Mumbai is one of the most expensive property markets in the world; it is more costly than those in Tokyo or New York. One of the most challenging parts of moving to a city like Mumbai is finding a cheap place to live.
Nowadays, when someone finds a home for themselves, the main requirement is to find a location with the best values and the services and amenities provided at these locations.
There has always been a significant demand in Mumbai for apartments for sale in the 25–30 lakh price range. However, locating affordable homes in the nation’s financial metropolis is challenging due to Mumbai’s high property rates.
However, there are only a few locations in Mumbai where one may find a reasonably priced apartment for under 20 lakhs.
If we talk about buying budget property in Mumbai, it is hard to find a suitable budget property near Mumbai. The best option most people like is to find properties under budget around and near Mumbai. This way, they have excellent access to Mumbai’s commercial hubs.
A person always tries to find the ideal neighbourhood in Mumbai where you have easy access to Local transportation, schools, universities, healthcare facilities, retail malls, and other amenities are factors that must be considered when choosing a place to live.
Breathe deeply and keep reading to learn more about affordable places near Mumbai.
Affordable Budget Property near Mumbai
If we talk about places near Mumbai, there are many. However, it would help if you focused n those with all the locational advantages. Below are a few places near Mumbai which p[eovides you with the best destination for a perfect home.
Asangaon is one of the best places to buy budget property near Mumbai. Asangaon is located 40 kilometres from Thane and 53 kilometres north of Jalna. Before the modern revolution, Asangaon was only a tiny village on the Mumbai-Nashik Highway, which no one knew about.
A few years ago, this tiny village caught the attention of real estate and became the perfect place to buy budget property near Mumbai. The area near residential development has seen increased commercial properties, and locals can enjoy themselves in restaurants, cafes, theatres, and sports facilities.
Asangaon is becoming famous for individuals looking to purchase a cheap property near Mumbai.
The property rates in Asangaon for 2022 are as follows:
- Highest Locality Price: Rs 4,023/Sq-ft
- Average Locality Price: Rs 3,374/Sq-ft
- Lowest Locality Price: Rs 2,725/Sq-ft
Nashik is a well-Developed location where you can get a budget property near Mumbai, and Nashik is the second place to find the most budget-friendly property near Mumbai. Nashik is located in Maharashtra and is known as the city of history, and people love to live here because Nashik is known as a pilgrimage centre. Both Mumbai and Pune are about 190 kilometres away from Nashik.
The industrial hub Nasik is also becoming a hub for education, providing fantastic connectivity to Mumbai and Pune. Due to the city’s rising demand, the administration focuses on enhancing the municipal and social infrastructure.
Nasik has become a hot location for property investment near Mumbai due to the rising demand for real estate. Nashik is one of the most appealing geographical locations, and you might find your dream place to buy a home in Nasik.
Living there will surely be an unforgettable experience with its breathtaking natural beauty and high-quality fruits and greenery like grape and mango trees. The city is home to well-known enterprises and current development projects that may be purchased relatively and are helpful for residential and affordable properties close to Mumbai.
Residential property rates of Nashik multistorey apartments for 2022.
- Dwarka Nashik: 3,394-5,191/Sq-ft
- Gangapur Road: 3,844-5,973/Sq-ft
- Govind Nagar: 4,437-6,297/Sq-ft
- Indira Nagar: 3,265-4,925/Sq-ft
- Nashik Road: 3,035-4,623/Sq-ft
- Panchvati: 2,857-4,166/Sq-ft
- Pathardi Phata: 2,857-4,166/Sq-ft
Panvel is the best location for buying budget property near Mumbai. Panvel was a weekend getaway location; no one imagined purchasing a home in Panvel, Navi Mumbai.
However, after undergoing a significant transformation in a few years, Panvel is now considered an ideal destination for buying budget property near Mumbai.
One main factor that makes Panvel a perfect place is its broad spaces, sizable expanses bordered by trees, luxuriant vegetation, and reasonably priced real estate. Apart from that, the administration also plans to undertake other large infrastructural projects in Panvel.
Road and rail connections in Panvel are first-rate. In essence, the area links the central and western lines. It has good access to both the Mumbai-Pune Expressway and the Sion-Panvel Expressway. Travelling is made more accessible and more practical as a result.
Residential property rates of Panvel for 2022
- Highest Price: Rs 8,922/Sq-ft
- Average Price: Rs 7,088/Sq-ft
- Lowest Price: Rs 5,255/Sq-ft
Ulwe is a prime location for a Budget Property Near Mumbai.
Ulwe in Navi Mumbai is the new city of dreams. CIDCO (City and Industrial Development Corporation of Maharashtra) transformed Ulwe from a little fishing community to a tidy neighbourhood.
In Ulwe, the mode of transportation is the auto-rickshaw. Ulwe is a sought-after location to acquire inexpensive real estate close to Mumbai because of its road access to other communities like Kharghar and Panvel.
Soon Ulwe real estate industry will get successful because the ongoing railway line construction between Nerul and Uran will pass through Ulwe. Apart from that, the Navi Mumbai metro line construction will help people to travel to and from Ulwe.
The reputation of Ulwe as a community will increase because of the Navi Mumbai International Airport, and it will also lead to higher property taxes.
Residential property rates of Ulwe for 2022
- Highest Locality Price: Rs 9,386/Sq-ft
- Average Locality Price: Rs 7,739/Sq-ft
- Lowest Locality Price: Rs 6,092/Sq-ft
Taloja is between Mumbai and Pune; it makes the Mumbai-Pune highway accessible. There are now more residence alternatives because of the rail connectivity from Kharghar and Panvel. Real estate values will rise soon, making Taloja the ideal investment choice in Navi Mumbai if you’re searching for long-term growth.
The real estate market will experience exponential growth thanks to the proximity to Central Park, the Kharghar Golf Course, schools, and colleges. The area has successfully lured homebuyers thanks to a gradual rise in residential property prices over the past few years. Unaffected by its proximity to the planned Navi Mumbai International Airport, Wadhwa Wise City is one of the projects providing modern amenities and a different alternative for real estate investment.
Badlapur is located in Maharashtra’s Thane district. It lies on the outskirts of MMR and is witnessing massive interest from end users and investors. Mumbai real estate prices have increased significantly as a result of this location.
People who work in Mumbai and seek two-bedroom apartments in Mumbai are increasingly choosing to purchase in Badlapur. After Thane, Kalyan, and Dombivli, Badlapur emerged as the next destination for the discriminating property buyer. Affordable homes in Platinum Sagar include top-notch features. It is the ideal domestic setting where one can introduce their loved ones to a new way of living.
The modernisation of Badlapur’s real estate market is primarily due to seamless connectivity. East and West Badlapur provide reasonably priced housing options and well-designed and planned structures. The town’s skyline will undoubtedly change, giving potential for better returns.
Khopoli is an industrial town with panoramic beauty in Khalapur Taluka. Homebuyers prefer Khopoli because of its advantageous location, which provides quick access to Navi Mumbai, Mumbai, and Pune. Real estate developers are creating upscale residential buildings with improved infrastrmain train hubs connecting Railway Station and Lowjee Railway Station, the two main train hubs connecting Khopoli.
Jainam Garden and Balaji Infra Balaji Complex are the area’s most prestigious residential developments. These projects offer top-notch features and specs for a pleasant existence. Thanks to innovative space utilisation, every unit is the ideal place to call home. Additionally, the town’s National Highway 4 is accessible to residents, and the neighbourhood is rapidly developing with new apartment buildings, single-family homes, and independent villas.
Shahapur is encircled by mountains and draws tourists due to its proximity to Mahuli fort, Aaja Parvat, Manas Mandir, and Gurudwara. Asangaon, the closest train station, is home to spectacular housing developments. Mumbai receives a lot of water from Shahapur. The government designates the town as a "No Chemical Zone."
Shahapur is a superior investment option with a good return on investment because it is removed from the bustle and has decent air quality. Most of the apartments in Shahapur with stunning views are brand-new buildings with contemporary conveniences.
Boisar, in the Palghar district, is one of Mumbai’s suburbs with the most significant population growth. The neighbourhood encompasses Mira Road and the surrounding regions, and it has excellent access to all areas of Mumbai. Due to its reputation as Maharashtra’s largest MIDC, the site has built residential neighbourhoods. There is good connectivity on Boisar-Tarapur Road, Boisar-Palghar Road, and Navapur Road.
From Boisar, one can get bus and train services at the nearby bus stop on Mira Road and the nearby Virar railway station.
One of the main factors in Boisar’s rapid development is the fact that it provides good infrastructure and connectivity to its citizens.
While cost is the primary determinant of where a person lives, career possibilities are also crucial to property purchasers. The area’s planned infrastructure and real estate developments are projected to turn this area into a residential neighbourhood that promotes tourism. Property prices in Boisar have historically been relatively reasonable.
Bhiwandi is one of the most incredible places to seek because the western suburbs are already overpopulated and central offers quality homes at a higher cost. The neighbourhood is conveniently adjacent to and accessible to Mumbai Central, Thane, Kalyan, Vasai, Wada, Borivali, Nashik, Shirdi, Aurangabad, and Pune, as other developed districts.
The most considerable power looms in the nation are located at Bhiwandi, recognised for its textile sector, and is an important industrial centre for the textile sector. Due to its location near Thane and Mumbai and the MMRDA’s development of the area, Bhiwandi is now a well-known commercial centre with many employment prospects, which has led to building more residential properties nearby.
An integrated development called Ambika City is surrounded by hills and sprinkled with wide-open green spaces.
Due to Bhiwandi’s impending social, economic, and physical infrastructure development, the area has significant growth potential.
Titwala resides near the Kalyan city on Murbad highway. Apart from the scenic views, the place offers schools, hospitals, restaurants, and shopping malls nearby which can lead to a good lifestyle. Individuals can soon find the most budget-friendly 1-BHK flats here, making it an affordable residential area.
A railway station is also near Titwala, connecting it to the Mumbai local railways’ central line. It was a farming place and a second home for the people until recently. However, now this place is emerging as a budget-friendly residential area. All the factors, including robust connectivity, infrastructure, business hubs, and affordable residential apartments, make this place ideal for the working class.
For people who love to make a home in nature, Neral is one of the best options near Mumbai. Neral is a town in the district of Raigad surrounded by greenery and nature’s beauty. For buyers looking for houses that come into the budget, Neral offers several investment options. It boasts scenic resorts and farmhouses, which makes it a tourist attraction and a good investment area.
Neral is a part of the MMRDA development zone. It has an incredibly diversified landscape, and real-estate developers are making their way to initiate various mega infrastructure projects.
If you are searching for a place to buy budget property near Mumbai, you can visit all the above places. Buying a house in Mumbai can cost a lot; however, purchasing a home near Mumbai will be budget-friendly and provide many location advantages. Go and build your dream house with your family and be happy.
Should I choose a readymade apartment or an under-construction property?
Both of the properties have their benefits and drawbacks. You can start at a lower price if you book an under-construction property.
Are Mumbai's suburbs an excellent place to buy a budget property near Mumbai?
Yes, the suburbs of Mumbai are excellent because they provide accessible accommodation and easy access to all main employment centers, educational institutions, and medical facilities.
How much does it cost to register a property?
The Maharashtra government levies a flat registration fee of 30,000 INR for properties valued at more than Rs. 30 lakhs.