The cheapest flats or Affordable Housing for rent in Mumbai or any other city are usually on the outskirts or the suburban area of the city.
Mumbai as a city has 3 distant suburbs or outskirts – Mira Road to Virar zone. Thane to Kalyan Zone and Navi Mumbai – Panvel to Dombivali side zone. In Mumbai suburbs, the ideal locations for Affordable Housing for rent in Mumbai are Kandivali East, West, Malad East and Malad West and most of the locations in Western Suburbs.
These locations offer medium to superb connectivity to Mumbai city and therefore have an ongoing demand for homes.
In India, the good part for real estate is that, people like to buy their own homes and renting is a little tedious at times and to shift every few years or in some cases each year becomes a little tiring for the family and impacts the families well being.
These zones offer apartments in the range of 15 lakhs going upto 30 lakhs for a 1 BHK and 2 bhk could start from 20 Lakhs going upto 50 Lakhs.
Off late affordable housing is in the news with the PMAY schemes etc for the average Indian who years to buy a house.
So coupled with Lower GST, Taxes and some tax sops the suburban markets for buying homes will remain favorite for the home buyers in Mumbai.