Home and dry? 5 Mumbai areas that see waterlogging every year during monsoon
Home and dry? 5 Mumbai areas that see waterlogging every year during monsoon
Yes, you may be able to get a discount when buying or renting a house in these localities, but do consider the downsides
Mumbai Rains: The heavy rainfall in Mumbai every year not only results in water-logging, but also disrupts public transportation system of Mumbai.
Mumbai has been witnessing heavy rainfall and several cases of waterlogging have been reported across the city. The India Meteorological Department (IMD) has forecast heavy to very heavy rainfall for the next two days and has issued an orange alert for the financial capital.
Waterlogging during the Mumbai monsoon is not new for the city, but it is also a factor that impacts India’s costliest real estate market.
The Brihanmumbai Municipal Corporation (BMC) has identified around 100 waterlogging spots in the city across south and central Mumbai, and the suburbs. Moneycontrol looks at five micro markets that homebuyers may want to avoid investing in if they are averse to wading at least once a year.
1: Nana Chowk (Grant Road)
Nana Chowk is in south Mumbai near the plush Tardeo area abutting Grant Road. The micro market witnesses waterlogging if there is a downpour of over one hour. The price per square foot of an apartment in Nana Chowk and its vicinity is in the range of Rs 40,000 to Rs 60,000, according to local real estate brokers.
3: Gandhi Market (Sion)
Gandhi Market is not only famous for the wholesale market but also for the wholesale annual inundation. This too is a low-lying area and has the dubious distinction of getting flooded within minutes of heavy rainfall, leading to massive traffic snarls. However, over the years, the Mumbai civic body has worked to ensure that waterlogging is minimised in the area. Apartments in and around Gandhi Market go for between Rs 25,000 and Rs 50,000 per square foot, according to local real estate brokers.
Also read: Here’s how waterlogging impacts Mumbai’s real estate market
4: Kalanagar Junction (Bandra)
Kalanagar Junction is next to the India’s costliest commercial property market, Bandra Kurla Complex (BKC). The area has in the past couple of years been reporting waterlogging due to which the BMC has installed pumps to drain out the rainwater faster. Given its proximity to BKC, the area remains a top draw for those working in the prime central business district. Several top developers in the city have in the past one decade constructed apartments in Kalanagar. The rates for apartments here vary between Rs 25,000 and Rs 50,000 per square foot, say local real estate brokers.
5: Dahisar
Dahisar is a tiny suburb at the extreme northern tip of Mumbai and is famous for being the entry and exit point of Mumbai limits for those coming from northern India. However, water blocking the vehicular underpass known as Dahisar subway and its surroundings iis a regular feature during the Mumbai monsoon, affecting connectivity between the eastern and western part of the city. Here apartments are available at Rs 15,000 to Rs 20,000 per square foot, say realtors in the area.
Mumbai Rains: The heavy rainfall in Mumbai every year not only results in water-logging, but also disrupts public transportation system of Mumbai.
Lower pricing for homebuyers in waterlogging-prone areas?
According to real estate consultants, homebuyers looking to purchase or rent an apartment in a particular micro market that witnesses waterlogging can expect some sort of rebate.
“In case a homebuyer is purchasing or renting an apartment in a water-logging prone micro market, he or she can ask for 5-10 percent discount owing to the perineal problem of waterlogging during heavy rainfall,” said Dhiren Doshi, a property consultant from the Borivali micro market of Northern Mumbai.
