Oshiwara in the Western Suburbs may have fallen off the real estate radar over the past couple of years, but it is quickly rising up the ranks once again. We give you the top 5 reasons why this region might be worth your while.
1 – New Commercial Hub in the Making
The Mumbai Metropolitan Development Authority (MMRDA) is coming up with the Oshiwara District Center (ODC) which will be modelled after the famous Bandra-Kurla Complex. Once that happens, global and Indian corporates are sure to invest here, boosting employment generation while encouraging the development of residential projects to house the many professionals who will work here
2 – Like BKC, but better
The government has learnt from its experience with the BKC which has more commercial projects than residential, leaving little room for people working here to buy homes or find adequate social infrastructure here. That is why the Oshiwara District Center will have a focus on both, with nearly 50% of the space reserved for residential complexes. The government also has incentives in mind to attract social infrastructure like malls, restaurants and other facilities in the area.
3 – Connectivity Set to Improve
Connectivity in Oshiwara is also set for a major boost, with a new railway station between Goregaon and Jogeshwari in the final stages of completion. A flyover has also been planned to connect Oshiwara to the Jogeshwari Vikhroli Link Road (JVLR), making commuting here that much easier.
4 – Choose From the Best
Connectivity and an upcoming commercial hub – home buyers are lining up to invest in the region and developers are not far away either. Top names like Kalpataru and Radius are looking at building projects here, while Sunteck Realty has already launched a 23-acre township in the region.
5 – A Good Bet for Investors & Home Buyers
Prices in Oshiwara have grown by 6% to 7% annually with average prices standing at around Rs. 15,000 per sq. foot. Experts say this price trend makes Oshiwara a good choice for both investors and end users.