PNN Mumbai (Maharashtra) [India], September 25: The residential rental market in Mumbai's western suburbs has witnessed a sharp increase, driven by rising demand and limited supply of quality homes. Popular localities such as Andheri, Goregaon, Malad, and Borivali have seen rental prices surge over the past year, making it one of the hottest real estate markets in the city. Also Read | India Captain Harmanpreet Kaur Confident About Overcoming Australia Ahead of ICC Women's T20 World Cup 2024, Says 'We Have What It Takes To Lift the Trophy' (Watch Video).
"Rental growth across premium gated societies in Mumbai has cooled down to 5-9% in 2024 after a growth of almost 50-60% in the last two years between 2021-23," according to data shared by Zapkey.com research. Several industry experts have weighed in on this growing trend, citing various factors such as the influx of professionals, the city's expanding infrastructure, and the development of premium housing projects.
This shift is reshaping Mumbai's rental landscape, creating opportunities for both developers and investors. Also Read | Popcorn Brain Meaning: Do You Have a Popcorn Brain? Here's What You Should Know if Your Attention Span Is As Fleeting as Popping of Kernel. Commenting on the trend, Shraddha Kedia-Agarwal, Director, Transcon Developers, noted, "The rise in rental prices in Mumbai's western suburbs is a direct reflection of the demand for modern, well-equipped homes.
The area's connectivity, proximity to commercia.
