Goregaon property market: An overview


Goregaon is a locality in the suburban district of Mumbai, Maharashtra. It is divided into Goregaon east and Goregaon west, both of which are preferred residential destinations

Goregaon has witnessed immense commercialisation in the recent past. Economic growth, coupled with infrastructure development in Goregaon, are responsible for making it a coveted locality of Mumbai. The locality offers almost all kinds of transportation facilities, including buses, taxis, auto rickshaws and trains. Goregaon houses some of the major company offices, such as IBM India Pvt Ltd, Abbott India Ltd and Aegon Religare Life Insurance. Major builders such as Lodha Group, Oberoi Group and Rustomjee Group have their presence here.

 

The locality is well-linked to various developed areas of Maharashtra and a number of hotels, schools, banks and hospitals via an excellent network of railways and roadways. The locality is witnessing an increase in population in recent years, owing to its proximity to various employment hubs.

 

Connectivity with nearby Goregaon localities

  • The locality is located close to the two prominent localities of Mumbai namely Andheri and Borivali.
  • The nearest railway stations are the Goregaon railway station and Malad railway station.
  • The nearest airport is the Chhatrapati Shivaji Maharaj International Airport.
  • It enjoys convenient proximity to Jogeshwari-Vikhroli Link Road (JVLR) and the Western Express Highway.

 

Employment hubs near Goregaon

These include offices set up by some of the leading companies, such as:

  • IBM India Pvt Ltd.
  • Abbott India Ltd .
  • Aegon Religare Life Insurance.

 

Schools in Goregaon and other social amenities

Goregaon provides its residents with all kinds of social amenities to live a happy and peaceful life. Various schools in Goregaon include Ryan International School, St Xavier’s High School, St Thomas Church, Royal Academy School and many others. The major hospitals in Goregaon include Life Line Medicare Hospital, Sai Sparsh Critical Care Center, Matushree Gomati Hospital, Vasudha Hospital and Vishwakripa Hospital. Apart from these it also provides recreational amenities and proximity to various banks and ATMs.

The locality also provides its residents with many luxurious shopping centres such as Oberoi Mall, HUB Shopping Mall, Inorbit Mall and Infiniti Mall.

 

Physical infrastructure in Goregaon

Plans for the development of new link roads have been made by the government.

 

Price trends in Goregaon

  • Price appreciation in Goregaon East – Around 9.4 % in last 2 years.
  • Price appreciation in Goregaon West – Around 3.1 % in last 2 years.
  • Current property rates in Goregaon east – Rs 6,000– Rs 30,000per sq ft.
  • Current property rates in Goregaon West – Rs 13,245–Rs 16,117 per sq ft.

 

Reasons to invest in Goregaon

Considering the high rate of increase in property prices in Goregaon and the obvious rise in demand, the locality is sure to prove to be a good investment in the future. The presence of business offices in and around the locality is making Goregaon a coveted working, as well as a residential destination of Mumbai.

Big-ticket projects like The Lion Park by the Makwana Group, Sunteck Avenue 2, Aaditya Realtors Prayag Heights and Paranjape Ujval by Paranjape Schemes, make Goregaon a preferred residential neighbourhood and act to trigger a surge in property pricing in the future.

Check properties in Goregaon

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