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Borivali East is a thriving and well-established neighbourhood within the Mumbai Metropolitan Region (MMR). This locality presents a diverse array of housing options, ranging from budget-friendly apartments to upscale residences, catering to a wide spectrum of residents. With robust infrastructure encompassing educational institutions, healthcare facilities, shopping centres, and recreational amenities, Borivali East offers a comprehensive urban lifestyle. Its strategic placement along the Western Express Highway and accessibility via the Western Railway line renders it as a convenient choice for both Mumbai's urban denizens and suburban commuters. In the realm of real estate, Borivali East has exhibited consistent growth, firmly establishing its reputation as a highly desirable living destination in the city.
The month of October witnessed remarkable activity within Borivali East, with 57 flats changing hands. Among these, 37 were new purchases from the developers, while the rest found their way into the resale market. Notably, CCI Rivali Park emerged as the frontrunner with an impressive tally of 20 transactions, followed closely by Siddharth Nagar CHS with 8. Fortune Florence secured 6 deals, and Chandak Greenairy celebrated 3 successful transactions during the month.
Moreover, the dynamism of Borivali East's real estate market is underscored by its diverse pool of builders, ranging from renowned giants like Oberoi, Raheja, and Chandak to not-so-famed local developers. This eclectic mix ensures that residents are presented with a broad spectrum of choices when it comes to their housing needs.
During this period, a wide spectrum of carpet areas in Borivali East came into the spotlight. Ambrosia Tower presented a generous 1,518 square feet. In contrast, Chandak Nishchay featured the smallest carpet area in the vicinity, measuring a snug 368 square feet.
In the realm of property values, Oberoi Sky City claimed the pinnacle by selling a luxury apartment for a staggering Rs. 4.4 Crores. This lofty transaction elevated the rate per square foot to an impressive Rs. 40,219, significantly surpassing the locality's average. However, Siddharth Nagar CHS catered to the budget-conscious with a delightful deal of about 71 Lakhs. The apartment in Ossia Shivkari, on the other hand, clinched the title for the most economical rate per square foot, shining as the most affordable choice among the properties registered during this period in Borivali East.
The dynamics of Borivali East's real estate market in October tell an intriguing tale. Within the carpet area range of 500-1000 square feet, we witnessed the highest level of activity, accounting for a significant 75% of the flats sold. Notably, the 1-500 square foot range and the 1000-1500 square foot range made up 11% and 12% of the sales transactions, respectively. In a noteworthy exception, one flat went beyond the 1500 square foot mark, hinting at a surging demand for more spacious homes as families seek new abodes.
Delving into price brackets, the data paints an interesting picture. For the month of October, only 14% of the flats that changed hands were priced below the Rs. 1 Crore mark. Remarkably, over 85% of the transactions featured properties well above Rs. 1 crore. This trend underscores the area's growing allure for high-value investments, as evidenced by an average sale value that comfortably exceeded the 1.50 Crore threshold.
Nestled in the western suburbs of Mumbai, Borivali East has seen a flurry of real estate activity, with 57 flats changing hands, exemplifying its popularity among homebuyers. With solid infrastructure, including educational institutions, healthcare facilities, shopping centres, and recreational amenities, Borivali East provides a well-rounded urban lifestyle. A wide spectrum of builders, from industry giants like Oberoi and Sheth to local developers, adds to the area's real estate diversity. As property values continue to climb, Borivali East reaffirms its status as a coveted living destination in the dynamic city of Mumbai.
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