Both Matunga East and West are famous for the cultured Maharashtrian and South Indian families. The real estate market in Matunga West in Mumbai is very strong and there are both redevelopment and new properties coming up.
Matunga is an actual user driven market and with no speculation of investment angle etc. The markets have grown well and property rates in Matunga vary from Rs.30000 to 45000/- PSF again depending on the Developer etc.
Ekta Invictus, W 54 by Wadhwa Group are the marquee buildings in Matunga. Between Matunga West and East there are close to 50 odd new buildings which are under construction. Most of the demand and supply in Matunga Property market comes from 5 Gardens, Dadar, Chembur and Wadala. Most of the new buildings which are coming up have self contained and modern amenities which appeals to the growing young population in these areas.
Matunga has more Retail concentration in both east and west side, with Saree Stores and eateries etc. Matunga from the eastern express highway offers excellent connectivity to Vashi, Thane or going out of Mumbai towards Nasik or Pune.
There are not many top of the line developers developing Commercial Properties in Matunga, the focus remains on residential real estate which gives good traction to developers who are developing under construction properties in Matunga.
The lease rent demand in Matunga is luke warm and barring a few top buildings, there is not much inventory which comes out openly in the market. Lots of Top of the line Schools are located in Matunga.