Mira Road stands as a thriving real estate hub on Mumbai’s northern outskirts. Property in Mira Road has evolved from a little village to a bustling residential and commercial real estate district over the past two decades. Its strategic position and excellent accessibility to various districts of Mumbai have propelled it to the forefront of property developers’ preferences. In Mira Road property rates per square foot range from Rs. 4,000 to Rs. 5,000, depending on the house’s amenities and location. Due to the relatively low prices in comparison to other parts of Mumbai, Mira Road is a popular choice for families and investors looking to purchase real estate.
Today, Mira Road’s real estate agents provide a diverse selection of properties at competitive prices compared to other areas of Mumbai. This blog aims to make finding the greatest residential houses on Mira Road easier. By the end of this comprehensive guide, you should better understand the best housing in Mira Road real estate. With this knowledge, you can confidently decide on your next real estate developer. In this guide we would also inform you about the Mira Road property rates 1 BHK and 2 BHK.
Real Estate Market in Mira Road
Mira Road is a fast-rising Mumbai Metropolitan Region (MMR) real estate area. Renowned for its affordability, connection, and expanding infrastructure, it is popular for homebuyers and real estate investors. You can rely on the expertise of a local real estate broker to assist you through the buying process and help you understand the Mira Road property rates while trying to buy your first house.
The Mira Road real estate broker scheduled appointments for you to visit numerous listings that fit your requirements. You’d be delighted you worked with an expert real estate broker who could negotiate the greatest Mira Road property prices and make the home-buying process move as smoothly as possible.
The real estate market in Mira Road has experienced consistent growth in recent years. Real estate values have skyrocketed, with the average price per square foot currently topping $14,000. Mira Road property price expansion can be due to many sources, including:
Improved Infrastructure:
Ongoing development, including the construction of new roads, highways, and the future metro line, has enhanced connectivity within Mira Road and to other sections of Mumbai, causing Mira Road property prices to increase.
Growing Demand:
Mira Road is drawing many young professionals and families looking for larger homes due to Mira Road property prices, affordability, and proximity to Mumbai.
Limited Supply:
With limited land for future construction, available properties are in high demand, increasing Mira Road property rates even further. Limited land has greatly driven up the competition and, subsequently, the Mira Road property prices to new heights as demand far outweighs the constrained supply
Government initiatives:
Government programs such as PMAY are increasing the real estate market in Mira Road, causing a rise in demand and property prices in the area.
Popular Areas in Mira Road:
Some of the most sought-after properties in Mira Road include:
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Mira Road East:
This neighbourhood is recognised for its premium property in Mira Road and its proximity to the planned metro line.
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Mira Road West:
This region is popular among first-time homebuyers and young families since it offers a mix of inexpensive and premium property in Mira Road.
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Naya Nagar:
Naya Nagar is well-known for its tranquil setting and well-developed infrastructure.
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Shanti Nagar:
With a mix of residential property and business establishments on Mira Road, this location is great for individuals looking for a vibrant community atmosphere.
Property Rates Per Square Foot in Mira Road
Property developers’ prices per square foot on Mira Road, Mumbai, have risen recently. The improved accessibility and connectivity of Mira Road to various sections of Mumbai, thanks to the construction of new Roads, highways, and metro lines. Mira Road is gaining popularity among young professionals and families looking for cost-effective property rate alternatives in proximity to Mumbai. The limited availability of land for new development is driving up Mira Road property rates. Government initiatives like the Pradhan Mantri Awas Yojana (PMAY) are increasing the housing market in Mira Road even more.
In 2023, the average property developer rates in Mira Road’s various neighbourhoods are as follows:
Ramdev Park, Mira Road East
Property prices range from Rs. 7,088 to Rs. 9,015 per square foot, offering a spectrum of options to potential buyers.
Miragaon, Mira Road East
The average property rate is around Rs. 10,000 per square foot, with the most expensive property listed at Rs. 16,358 per square foot.
Mira Road Area:
The average per sq.ft price in 2022 was Rs. 14,000, up from Rs. 10,800 in 2015, underscoring the dynamic growth and appreciation of real estate in the region.
Real Estate Property Rates Trend in Mira Bhayandar
Mira Bhayandar, nestled along the Mumbai-Ahmedabad highway within the Mira Road neighbourhood, has burgeoned into a highly coveted node in Mumbai’s northern suburbs. To fulfil the increased demand, numerous big developers have developed substantial townships and residential complexes on Mira Road over the last decade. AsmitA Garden, AsmitA Orchid, Casa Rio, and Paradise City are some of the most prominent real estate projects in Mira Road.
These real estate projects in Mira Road provide homeowners with modern amenities and comforts in self-contained developments stretching across several acres. Mira Road real estate projects comply with the most recent construction standards and give great homes to thousands of families. With several infrastructural projects in the works, real estate professionals expect that the market value of property in Mira Road will rise by at least 10-15% during the next year. Mira Road property rates per square foot have risen significantly over the years due to high demand and ongoing infrastructure construction.
Industry reports indicate that the average Mira Road property rates per square foot for residential units currently range between Rs. 7,000 and Rs. 10,000 for flats, depending on the location, amenities, and project status.
Remarkably, property experts observe that the market value of property in Mira Road per square foot for premium projects near key transportation hubs is quickly approaching Rs. 12,000-15,000 levels. Property prices are projected to rise further in the near future due to large-scale sops and connection enhancements planned in the region.
Due to its accessibility and ongoing real estate projects in Mira Road, the Mira Bhayandar micro-market has emerged as one of the most attractive residential locations in the northern suburbs during the last decade. The average property rate of Mira Bhayandar per square foot has risen from over 5,000 in 2015 to over 14,000 in 2023, reflecting a roughly 200% increase.
Mira Road Property Rates 1 BHK
Based on previous transactions in the Mira Bhayandar, the average Mira Bhayandar, Mira Road property rates 1 BHK is roughly Rs. 14,258 per sq ft. The property rate for 1 BHK in Mira Bhayandar, Mira Road varies depending on the location, facilities, and other considerations. For example, Mira Bhayandar, Mira Road property rates for 1 BHK in Poonam Estate Cluster 1 is offered for resale for INR 31 Lac. Another 1 BHK home in Mira Road is for sale for an amazing INR 53 Lac.
The upward trajectory of property rates for Mira Road for 1 BHK units has been evident in recent years. The average per square foot price has ascended from Rs. 10,800 in 2015 to Rs. 14,000 in 2022, reflecting a dynamic market that continues to evolve. Overall, Mira Bhayandar, Mira Road property rates 1 BHK are competitive and give purchasers strong investment prospects.
Mira Road Property Rates 2 BHK
Mira Bhayandar, Mira Road Property rates 2 BHK vary according to location, amenities, and other variables. The monthly Property rates for 2 BHK in Mira Bhayandar, Mira Road range from INR 16,300 to INR 37,820. Mira Road property rates 2 BHK, price up to INR 60 Lac, with an average built-up space of 750 square feet per unit.
Some specific examples of property rates for 2 BHK in Mira Road homes include:
- A two-bedroom flat in Mira Road West with a built-up space of 750 square feet is for sale for INR 60 lac.
- Mira Road rates 2 BHK property at an excellent property rate of INR 63 Lac.
Property In Mira Road By AsmitA India Reality
AsmitA India Reality stands as a renowned real estate developer for its meticulous planning, cutting-edge building techniques, and top-tier facilities. Their large townships function as mini-markets, offering residents a life of opulence within self-sufficient communities. Notable among their contemporary residential spaces on Mira Road are Asmita Vihanga, Asmita Vihar, and Asmita Aditya.
Many consider AsmitA India Reality to be the leading real estate developer on Mira Road. Located on Mira Road, AsmitA Grand Maison is a one-of-a-kind development offering 1 and 2 BHK flats with thoughtful design and a prominent location. The core mission of our renowned real estate development firm is to foster community unity by providing housing and dynamic living spaces.
Its dedication to offering consumers first-rate home solutions and outstanding quality has earned it widespread acclaim. Build your dream home with the help of AsmitA India Reality, a reputable property developer. As a property developer, AsmitA India Reality mainly aims to construct community-enhancing, visually beautiful, and useful structures.
With a spacious, level hallway, many windows letting in natural light, and a peaceful, comfortable interior, the 1 and 2 BHK flats at AsmitA Grand Maison provide tenants with the maximum amount of living space imaginable. To provide the greatest living experience for inhabitants, property developers have utilised modern amenities and high-quality finishes.
AsmitA India Reality provides easy possession and flexible payment choices. As an early innovator in property development, they have a history of satisfying investors with consistent investment and rental income returns. Constant property development by the group improves connection and economic potential, positioning property development in Asmita townships to generate high long-term profitability.
Asmita Orchid 1
Asmita property developer was responsible for developing Asmita Orchid 1, which concluded its construction in 2005. It can be reached quickly and easily due to its location off the Mira-Bhayander Road. Between 1200 and 1500 square feet, the property comprises three-bedroom, three-bathroom apartments. A clubhouse, a fitness centre, a yoga room, a swimming pool, a playground, and a senior citizen area are all included as amenities. Each apartment features a modular kitchen, wooden flooring, abundant storage space, and access to a lift. One to one and a half crores of rupees is the current pricing.
Asmita Orchid 2
Asmita Orchid 2 was introduced in 2005, and it is located within close proximity to Asmita Orchid 1 and offers a comparable connection. It provides apartments with 1BHK, 2BHK, and 3BHK living spaces ranging from 900 to 1300 square feet. In addition to the regular amenities, it features a basketball court, an indoor games area, a party lawn, and a barbecue area. Prices begin at Rs. 60 lakhs for one-bedroom apartments and Rs. 90 lakhs for two-bedroom apartments. Apartments with three bedrooms and three bathrooms typically cost between Rs. 1.1 and Rs. 1.3 crores.
Asmita Orchid 3
In Mumbai’s Mira Road, AsmitA Group’s property AsmitA Orchid 3 redefines modern living. Every apartment showcases a dedication to excellence. There are three towers in the Asmita Orchid 3 property development. Although certificates of occupancy and commencement are still awaiting, the emphasis is still on providing an amenity-rich lifestyle. Easy access to Umrao Hospital and Mira Road East make this location quite convenient.
This project bridges the gap between comfort and connectivity; it’s more than just a house. It’s a monument to modern ideals. AsmitA Orchid 3 is a canvas where you can cultivate your fantasies in the embrace of modern living because of its ideal location. The apartments, which are located off the Mira-Bhayander Road, are anticipated to have prices ranging from Rs. 40 to Rs. 80 lakhs for 1BHK/2BHK units and Rs. 90 lakhs and above for 3BHK units.
Bottom Line
Mira Road has fantastic chances for either your dream house or a good real estate investment. As one of the area’s leading real estate developers, AsmitA Group has regularly delivered high-quality projects throughout the last decade. You can call various real estate agents in the region to assist you in finding the greatest properties that meet your needs. The real estate agent will take you on a tour of the neighbourhood and offer you vital information about the local market.
Consider AsmitA Group while seeking your dream home or your next investment property. Their property development projects meet the perfect balance of quality, location, and cost. You can anticipate a better living experience as well as reliable returns.
Frequently Asked Questions
What is the typical price of a one-bedroom and two-bedroom flat in Mira Road?
The average price of a one-bedroom property in Mumbai is between Rs. 35 and 45 lakhs. 2 BHK homes are typically priced between Rs. 60-80 lakhs, depending on location, amenities, and builder quality.
Who are some of the most well-known developers in Mira Road?
Asmita Group, Orris Infrastructure, Lodha, Kalpataru, and other major developers are building large townships and residential developments on Mira Road.
How has the Mira Road Metro Rail Project affected property prices?
The forthcoming metro rail corridor running across Mira Road is projected to improve connectivity significantly. This has boosted demand for properties near prospective metro stations. As a result, housing values in these areas have increased by 10-15% in the last year.
