The overall real estate boom in the city of Mumbai has led to the phenomenal transformation of the suburb of Goregaon East, from an erstwhile Gaon (village) to a blossoming neighbourhood. This locality boasts of a centralised location, great connectivity, a slew of housing projects, and affordable property prices, making it one of Mumbais most attractive residential localities.
This area houses the Goregaon train station on the Western Line of the intricate network of Mumbai Suburban Railway, and is bracketed on either side of the railway line by the cardinal Western Express Highway and the arterial Linking Road, providing for easy accessibility and hassle-free commute.
Goregaons transcendent change has been spurred by a series of development activities in this locality, including the establishment of the famous integrated film studio complex, Film City, and the construction of several housing colonies like the picturesque Aarey Milk Colony, which lies on the fringe of the evergreen Sanjay Gandhi National Park.
The wide variety of housing facilities in Goregaon East, ranging from the monumental Oberoi Garden City project (a massive township sprawling over 80 acres) to the Nagari Nivara Parishad (NNP) project at New Dindoshi (a housing scheme for the lower-middle class), has attracted lots of people engaged in different professions and enjoying different lifestyles, thus creating a truly diverse and culturally rich residential district.
The civic and social infrastructure in this area has evolved in the past few decades, housing some of the best malls, schools, and hospitals in the city.
Key projects in this locality are:
Romell Umiya Grandeur
DB Orchid Woods
Connectivity and Transit Points
Goregaon East is quickly becoming one of Mumbais most preferred residential destinations due to the central location and excellent accessibility it enjoys.
It is one of the stations on the Western Line of Mumbais local railway network, which connects it to the likes of Jogeshwari and Malad. The railway station at Thane lies 12 km away from this area, and many interstate and intrastate trains operate from here.
The local BEST buses ply from various bus stops, taking commuters to different parts of the massive locality. Bus numbers 452, 451, and 342 begin at the Goregaon (E) station, and travel throughout the area of Goregoan, halting at Mayur Nagar, Adarsh Nagar, and Kokan Vikas Mandal respectively.
This locality is flanked by the Western Express Highway (WEH), which opens to the National Highway 8 (NH-8), taking commuters from Mumbai to Delhi. This road passes through most of the Central Business Districts in Mumbai, and connects Goregaon to Andheri, Bandra, Dahisar, and Vileparle. Shahar Elevated Access Road (SEAR) is connected to the WEH through tunnels and a bridge, and takes commuters to the Sahara International Airport.
Sanjay Gandhi National Park
Aparajita Durga Puja Samiti
Factors for Growth in the Past
Many decades ago, Goregaon was primarily a mango and guava plantation, filled with acres of lush greenery and dense trees. This was then bought over by the Maharashtra government, and was handed over to the Mumbai Housing Board in the 1950s. This area was sparsely populated until the early 1970s, when residential localities in the form of nagars began to spring up.
The housing boom of the 1980s saw expansion in terms of real estate and population density. In the East, newer areas such as Dindoshi, Gokuldham, Yashodham, Saibaba Complex, and the Oberoi Garden City, each boasting of vast residential complexes and state-of-the-art amenities, began to bloom. More recently, developers constructed a housing society for the lower-middle income group, called the Nagari Nivara Parishad (NNP) at New Dindoshi.
The primary reason for the growth spurt in this locality is the space crunch in the prime neighbouring residential locales of Andheri and Bandra. Developers were looking to start new projects in relatively new areas, thus closing in on Goregaon East.
The development of Oberoi Mall and several high-end hotels such as the Westin, along with the opening of the worlds most popular coffee-shop chain, Starbucks, has led to an unprecedented increase in realty prices and demand.
Residential & Commercial Market
Goregaon East has been a thriving residential locality since the time of independence, and the dominant property type in this area varies from residential complexes and apartments to villas and houses.
The vicinity of Goregaon East is a perfect blend of old and new, housing several antiquated bungalows, low-budget apartments, and pricey high-rise complexes, proving that there is something for everyone.
The current sales trends for multi-storey apartments fall within the range of Rs 15,100 to 16,550 per sq. ft. Residential houses fall within the bracket of Rs 10,450 to 21,715 per sq. ft.
Monthly rentals vary from approximately Rs 16,500 to 27,000 for a 1 BHK, and Rs 35,000 to 75,000 for 2 and 3 BHKs.
Commercial space in Goregaon East typically costs anywhere from Rs 13,300 to 15,200 per sq. ft. Leasing commercial space may cost between Rs 75 to Rs 105 per sq. ft.
The transformation of this locality from a sleepy corner of the city to a mushrooming residential locality has come at the cost of open land and free spaces. The expansion of Goregaon East has led to the deforestation of countless acres of trees and plantations, and lush greenery is being replaced by concrete blocks and stones. This has led to the congestion of roads, increasing traffic, and pollution.
Factors for Growth in the Future
The renovation of the Goregaon railway station has been slated for completion by the end of this year, promising commuters a foot-over-bridge across platforms, escalators, new platforms, and the beginning of the services provided by the Harbour Line. This will enhance connectivity and reduce travel time.
An upcoming residential project in Goregaon, Sunteck City, is a joint venture between Suntech Realty Ltd. and Disney Consumer Products (India). This project is going to emulate the structure and style of Disneyland, with similar interiors and decorations. This is going to attract a new breed of commercial property investors as well as home-seekers, guaranteeing an increase in residential property value.