MUMBAI: The changing landscape of the Mumbai Metropolitan Region (MMR) has ensured the rise of prime residential hotspots and one such area that has undergone transformation in terms of infrastructure development over the years and emerged as a great investment avenue is the north corridor of Mumbai’s western suburbs. A spurt in demand of residential projects from Malad to Dahisar has garnered increased enquiries from homebuyers due to excellent social infrastructure and improved connectivity.
Commenting from the investment point of view, Bhushan Nemlekar, Director, Sumit Woods Ltd. said, “This belt in the Western suburbs fulfils the expectations of homebuyers of all categories with its wide range of options for residential properties. The area is all set to witness more developments for providing a world-class living experience for its citizens. The property prices too are expected to increase once the Metro connectivity commences. The investors too are looking up to this booming marketplace for safeguarding healthy returns.”
The Government is focusing on a number of projects to develop infrastructure across the MMR. Mumbai Metro Line 2 and Line 7 are soon set to improve the region’s connectivity manifold. Line 7 will connect Dahisar East to Andheri East which is one of the prominent business districts in Mumbai. Line 2A will connect Dahisar to DN Nagar in Andheri West and a further extension of this Line 2B will connect DN Nagar to Mankhurd. This will make it a breeze to travel from the north corridor to the Western and Eastern Suburbs of Mumbai. The upcoming Coastal Road planned between Nariman Point and Kandivali along with the Metro connectivity is touted to enhance the connectivity nexus and real estate prospects around the north corridor of Mumbai’s western suburbs.
Commenting on the advantage of western suburbs, Bhasker Jain, Head Sales, Marketing & CRM, The Wadhwa Group says, "The area has witnessed rapid development in the last two decades both in terms of residential growth and population. This is fairly evident with several large residential pockets coming up in recent years. The north corridor of the western suburbs has drastically evolved with the help of infrastructure reforms and demand driven by the homebuyers. The upcoming Metro lines and the easy access to the Western Express Highway will be going to be a game-changer for this location in terms of driving demand. Also, its proximity to commercial centres and the upsurge in new projects with modern lifestyles & amenities continues to generate interest amongst the prospective residential buyers."
Over the years, the belt has witnessed rapid development of social and physical infrastructure consequently the demand for residential properties in the area has also thrived. Apart from being close to nature, it has access to some of the finest social infrastructural facilities such as reputed schools, colleges, health facilities, shopping malls and ample entertainment options. Although affordability highlights the residential market of this region, the demand for premium housing has also seen an upsurge in recent years. Also, it is noticed that many corporates have moved towards the suburbs to places like Bandra, Andheri, Goregaon, Malad, etc. Therefore the extended western suburb stretch is quickly becoming a sought-after place for employees to shift base too. High-rise apartments and integrated townships are growing in large numbers. Thus, house buyers of Mumbai in search of spacious house have found an alternative destination in this pocket of MMR.
Commenting on the locality, Himanshu Jain – VP-Sales, Marketing & CRM, Satellite Developers Private Limited said, "The western suburb of Mumbai is becoming an epicentre of realty transactions, both for end-users and investors. Called as the suburb with innumerable opportunities, it boasts everything from connectivity to social infrastructure to an urban lifestyle that is driving both end-users and the developers equally to it. With so much infrastructure development coming in this area, it definitely promises to be a safe bet for your real estate investments."
The western corridor from Kandivali to Mira Road also has numerous location advantages such as it is linked to Mumbai via the Western Express Highway and the suburban rail network; to Thane, Bhiwandi and Kalyan via Ghodbunder Road and to areas in Gujarat via the Mumbai-Ahmedabad Highway. The domestic and international airport is also 30 minutes drive from this region.
Due to its superior connectivity and so much to offer, the real estate market in this region is poised to grow by leaps and bounds in the near future. More builders are now catering to the rising demand in the region and spurting the growth and increasing the buying options