The MMR rings in the psyche of Indians as a gigantic unplanned stretch of road and railway lines winding through concrete, high rise buildings, chawls and slums where a sea of humanity travels in a huge mass urban transport system from one end of the city in the morning only to return in the evening and where traditional shops hawk wares alongside plush shopping malls, arcades and designer boutiques. In Mumbai it seems to many outsiders, its each man against the other and every man for himself trying to make it big in the biggest city in the nation where fortunes can change overnight and celebrities often become commoners after a single flop or public outburst.
The Mumbai Metropolitan Region has a glamorous ring to it, whereas once the city was known largely as Mumbai, today it has grown so large that those who live in the many diverse suburbs of Mumbai need a unique identity signaling their particular status and place in the pecking order of the city, reciprocating to these suburbs and taking them under its wings, Mumbai is gradually shedding its identity from just Mumbai into that of the Mumbai Metropolitan Region.
One such suburb of Mumbai is Navi, a relatively quiet and prosperous suburb in the MMR on the north western part of which lies a locality known as Ghansoli. For someone who want to own property in Mumbai or perhaps more appropriately MMR the locality is a great place to buy real estate, the price of property here has appreciated steadily over the past 3 years rising from slightly under 8,500 rupees per square foot to a notch over 9,500 square foot. The rise in the value of real estate here has been steady and more importantly consistent with virtually no dip in prices in any month since mid-2013. With a very strong score on the livability index Ghansoli has great access to high quality schools and is home to the offices of several large companies as well.
For buyers keen to own a 1 BHK Flat in Mumbai, Ghansoli may have few equals in the MMR. The price of such units in the locality is usually in the neighborhood of 40 lakhs. Though most of the developments housing such flats are more than 15 years old considering the maturity of the amenities in and around the locality, purchasing such homes makes a great investment for homebuyers and investors alike.
Affordable housing in Mumbai may be dwindling in numbers but the MMR ensures plentiful affordable housing for newcomers into the city, regardless of whether such new arrivals intend to stay temporarily or to permanently cast off their old identity in exchange of garnering one as a Mumbai Wala and commuting to work for hours a day in the hopes of striking gold.