Goregaon is no longer the rural or underdeveloped space that it was previously known to be. It has now emerged as one of the budding Mumbai localities that has not only the best amenities and facilities, but is also surrounded by enough trees and gardens. If you study the real estate market closely, you would realise that more and more people are investing in properties based at Gurgaon because the area promises great connectivity, promotes efficiency, and saves time.
The great part is that the prices of Goregaon Mumbai real estate haven’t escalated yet, making them affordable for the aspiring middle class who are looking for a great neighbourhood to buy a home for their families. On the other hand, Goregaon Mumbai real estate serves as the ideal location for investors because the prices of properties are expected to rise in the near future. The area is gaining all the more popularity because of its historic significance to the city of Mumbai and the beautiful future prospects it has for the city dwellers. Scroll down to learn about the past, present and future of Goregaon in terms of real estate and profitable investments.
1. A glance at Goregaon’s history
Goregaon was reportedly underpopulated until the late 1970s with areas like Shastri Nagar, Siddharth Nagar, Motilal Nagar, Mahesh Nagar, Piramal Nagar etc forming the few residential localities. Even then, the Western Express Highway was the separator between Goregaon and Aarey Milk Colony.
You might be amused to learn that Goregaon is named after a former resident of named ‘Gore.’ Post the demise of Gore, his wife – Mrinal Gore continued working towards social causes such as providing clean drinking water for the area. Goregaon was initially a small group of villages and was therefore a quiet neighbourhood rich in forested area, and farmlands inhabited by the tribal communities. Goregaon was known as a rural area till the early 20th century. It got its first railway station in 1862 and was one among the four railway stations between Borivali and Grant Road.
2. Goregaon real estate – present and future
Now a popular suburb of Mumbai city, Goregaon comes under the jurisdiction of the Mumbai Suburban district. The Goregaon railway station falls on the Western Line and connects its to Churchgate. After the 2018 extension of the Harbour Line, the region now has easy train connectivity to CSMT. The constriction of the metro lines have further rendered this hitherto hilly forest region into a crowded Mumbai suburb.
The IT and corporate boom of the late 90s and early 2000s led to a shift in attention from South Mumbai to the suburbs. As more and more people began working in the nearby expensive areas like Bandra, Andheri, and Powai, Goregaon emerged as an affordable and convenient living option. This was accompanied by the surge in developers’ interest in constructing sky-rises in the area and includes big names like the Oberoi Group and the Balwa Group and A20 Realty.
The influx of residential projects in Goregaon is also driven by other socio-economic factors such as the rapid commercialization, proximity to major IT hubs, availability of reputed retail malls, and green spaces like Sanjay Gandhi National Park. Gradually, the area has had an evolutionary trajectory – from being a rural neighbourhood to housing the middle class and now attracting the upper middle class with new-age luxury flats in Goregaon.
The last decade in particular has witnessed major infrastructural developments happen – from new metro lines and flyovers to link roads and luxury flats in Goregaon. The future looks bright, green and prosperous for Goregaon and its residents. With adequate city planning, the area is sure to retain its subtle charms and comfort!
3. Real estate investment in Goregaon – a popular choice
Almost every city in the world blooms at the cost of its rich natural biodiversity and greenery. Mumbai too has withstood major deforestation in order to facilitate its urban plans. This has consequently normalised the new-age problems of water shortage, flash floods, and erratic climate patterns.
However, Goregaon is one Mumbai locality, that has managed to retained a significant part of its lush forests and gardens. The area is full of gardens like the Sanjay Gandhi National Park and Aarey Bhaskar Garden (among others) which ensure that residents have enough options to go for morning walks, yoga sessions or meditative sprees in nature.
In addition, there are a diverse range of residential projects in Goregaon, that offer different living experiences. From 1, 2, 3 and 4 BHK apartments to penthouses, villas and duplexes – there are multiple projects that you can choose from. Avalon Residency is one such upcoming project offering multiple attractive residential options.
However, the most lucrative reason making apartment buildings in Goregaon a popular choice is the consistent rise in property values along with attractive rental yields. This brings a lot of domestic and international investors to Goregaon in search of the ideal property.
Conclusion
Goregaon is where the future of quiet and sustainable living in Mumbai is. Your search for the best residential property ends with Avalon Residency’s meticulously designed apartment buildings in Goregaon. Visit our website to learn all about our prices, amenities and other details.
FAQs
Why is Goregaon so popular among homebuyers?
Several reasons make Goregaon upcoming real estate projects a top preference among homebuyers. These include comparatively lesser prices of properties with a speculated increase in value shortly, availability of all basic amenities and the best of all – access to a cleaner, greener and quieter milieu where families could live peacefully.
Will Goregaon become like other areas of Mumbai?
While Mumbai is expanding into Goregaon and there is a lot of residential, social and commercial development (like other parts of the city), there is also a good chance that owing to the more sustainable architectural plans of current times, the region will retain most (or parts) of its good old suburban charm!
Is Goregaon safe and suitable for families?
Goregaon upcoming real estate projects are certainly a safe space to raise kids in. It comes with quicker access to some of the best educational and healthcare hubs. It is a quieter neighbourhood, ensuring that the family’s elders have a breathing space while the kids grow up being attached to greens instead of screens.
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