Ar. Shantanoo Rane: The Real Estate Landscape in Suburban Mumbai

Architect Shantanoo Rane Roswalt Realty

Mumbai, the Maximum City, is home to some breathtaking edifices with booming industrialism and amped migration from various parts of the nation, consequently being India’s financial capital and most expensive real estate market. With an exponential curve in its development and limited space, the “City of Dreams” has propagated a considerable demand in its real estate sector, yielding a solid spurt in property rates.

With a humongous footfall in the City of Seven Islands and an astounding record of having the highest property registrations in the last two quarters, specifically in April 2022, the Suburban zone of Mumbai has been the centre of attraction when it comes to property dealing lately.

Aided by larger spaces and affordable property rates, Mumbai’s peripheral zones have seen a rise in their residencies. Introduction of self-sustainable integrated township models by Hiranandani, Godrej, Lodha, etc, the city outskirts like Dahisar, Vasai-Virar, Kalyan-Dombivali, Palghar and Panvel have become a hub of increased property registrations since 2019.

Not only the big names, but trailblazers such as Roswalt Realty have emerged with splendid infrastructural marvels. A classic paradigm of such an opulent project is RAY by Roswalt Realty; abundant with a plethora of luxurious & self-sustainable amenities such as a rooftop swimming pool, indoor cafeteria, spa, mini theatre, and pre-medic room and electric car charging points, etc.

Moreover, such sustainable properties are backed by an added advantage of being close to the railway stations and highways along with their approvals/legal procedures staying ahead of the curve. The development of such lavish and “zero space wastage” houses has set a benchmark as an ideal residence for people diverting towards leading a convenient lifestyle.

The spurring shift towards Suburban Mumbai has been a repercussion of various aspects, increased employment options being one of the most contributing ones. The majority of the multinational companies are based out of suburban regions that are easily accessible by all parts of the metropolitan as the connectivity is convenient to daily commuters.

Easy access to some busiest hubs of the city by well-planned road networks such as the Western Express Highway, Eastern Freeway, Bandra-Worli Sea Link, BKC complex, etc. in addition to the availability of commuting options like Mumbai locals, allegedly the lifeline of the city, BEST buses, Mumbai metro, and monorails add up to the success rate of Suburban Mumbai migration.

Speaking of any business sector, the residual daunting effects of Covid-19 are undeniable. However, the pandemic has had some positive effects as well such as the implementation of hybrid work models in various leading organizations, wherein employees can permanently work from home/anywhere or even walk to work.

Ar. Shantanoo Rane, Architect & Chairman, Roswalt Realty

Attributed to the uncertain times, such perks have enabled employees to work from a location of their convenience and owing to this, projects of Roswalt Realty give you layouts that are planned according to the new normal. As a result of the pandemic, the rental/lease market has experienced a considerable rebound, especially in the peripheral zones of the asphalt jungle.

Real estate, inevitably, is a sector that is vastly affected by government policies. The current real estate trends are experiencing the lowest ever banking interest rates and as a ripple effect, the property rates have risen notably. But to reinforce the real estate transactions, the government has introduced lucrative policies lately such as a 100% concession on property tax on properties under 500 sq. ft. and even stamp duty being waived off on capital gains up to 3 years.

Considering these facts and trends, the demand for potential projects is evident and shall record a rise in the coming years, encouraging huge masses of communities to deflect toward the unexplored regions of this metropolis.

Mr Shantanoo Rane
Mr Shantanoo Rane

Architect and Chairman Roswalt Realty


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