Why Borivali’s real estate market is booming: Expert gives sneak peek into Mumbai’s suburban hotspot

Borivali, a western suburb of Mumbai, is witnessing a remarkable transformation, making headlines in the city’s real estate market. The Borivali-Goregaon belt recorded Rs 40,083 crore in home sales during FY 2024–25, indicating a 39% increase from the previous year. This surge is primarily driven by redevelopment projects and a strong buyer demand, positioning Borivali as a prime location for both investors and end-users.

One of the major catalysts behind this boom is redevelopment. Abhijit Chokshi, Founder of Stockifi, notes, “Older societies in Borivali, many over 30 years old, are cashing out. They’re replacing ageing buildings with high-rises offering rooftop jogging tracks, digital work pods, and other lifestyle luxuries that today’s buyers want.” This redevelopment not only upgrades infrastructure but also enhances the lifestyle offered to residents.

The appeal of Borivali lies in its efficient processes, attracting developers who face challenges in other parts of Mumbai. “In Borivali, deals get signed, permissions come quicker, and towers get built faster. That’s every developer’s dream,” says Chokshi. This efficiency is complemented by the area’s improving connectivity, with the Metro 2A, Western Express Highway, and the upcoming Mumbai-Ahmedabad bullet train hub enhancing its accessibility. The ease of commuting has made Borivali a preferred choice for many.

Property prices in Borivali remain competitive, ranging between Rs 25,000 to Rs 35,000 per sq. ft., making it a viable option for first-time buyers and investors alike. “Borivali hits the price sweet spot. You’re not compromising on amenities or location, but you’re also not burning a ₹5 crore hole in your pocket,” Chokshi highlights. This affordability is crucial in a city where prime location properties are beyond the reach of many.

The redevelopment wave brings significant advantages for all stakeholders involved. Chokshi elaborates, “Redevelopment is profitable for everyone. Societies get bigger flats, developers get prime land without outright purchase, and buyers get new homes in established locations.” This model ensures that everyone benefits from the transformation occurring in Borivali.

With over 200 redevelopment projects underway and significant land deals, such as the Rs 539 crore purchase of 3.84 acres by Rishabraj Developers, Borivali is setting a precedent in Mumbai’s real estate landscape. The ongoing demand and quick sales reflect a robust housing market, with new launches selling out rapidly. This trend highlights the area’s growing popularity and potential for future growth.

Borivali’s transformation into a real estate hotspot underscores its potential as a strategic investment zone, offering a blend of connectivity, affordability, and lifestyle. As Mumbai continues to grapple with housing challenges, Borivali stands out as a beacon of opportunity, turning aspirations of homeownership into reality. Furthermore, the suburb’s rapid development is attracting a diverse range of buyers, from young professionals seeking modern amenities to families desiring spacious living environments. This diversity in demand further solidifies Borivali’s status as a thriving real estate hub.