Kandivali Realty Looks Promising Amidst Infrastructural Growth
Mumbai, which is often criticized for being flooded could transform into one of the property hotspots due to major infrastructure developments taking place across Mumbai. The western suburbs of Mumbai host quite a few unknown places. One of the hidden jewels in the suburbs is Kandivali region of Mumbai.
Kandivali has emerged as one of the preferred locations for most of the home buyers as the development in the area is at an accelerated pace. This area has plenty of affordable homes too. With infrastructure projects progressing in the region, it has made the location buyer-friendly.
Kandivali is primarily home to most of the salaried professionals and businessmen belonging to the Gujarati and Jain communities but is also populated by many Maharashtrians, north Indian communities and East Indian Catholics.
Previously, standard 1BHK and 2BHK apartment in the suburbs regions were very expensive for the home buyers. However, due to various government initiatives such as the Pradhan Mantri Awas Yojna (PMAY), that helped the banks to lower the interest rates made sure that the sales numbers go up.
In the last couple of years, the real estate sector has seen tremendous changes starting from demonisation to the Real Estate Law and RERA followed by the Goods and Services Tax (GST). It was during this period that the real estate sector faced a slowdown in the construction and buying in terms of residential market, but the inventory which was lying vacant made sure that the sales scenario was not at zero either. One of the places which saw the light in this period from both buyers and developer end was Kandivali and it still remain the prime location for the homeowners looking to invest.
Every individual buyer chooses the location to buy his/her home considering the amenities that come with the location. Amenities such as school, colleges, hospitals, entertainment areas, sports ground and restaurants, are the key things buyers look for. With resources like Growel 101, the Sachin Tendulkar Gymkhana, the Poisar Gymkhana and many other recreation centers, Kandivali is on the verge of becoming a hub for residential buying in near future. It is not only near to malls like Infiniti Mall, In orbit Mall and Oberoi nut it also houses some of the tallest towers in the region.
The real estate sector will see a boost in Kandivali and the region around it in near future due to the accelerated pace of development in terms of infrastructure. It wouldn’t be wrong to quote that with the completion of the Metro project in the area along with the 29.2km long coastal road from South Mumbai to Kandivali, both buyers and developers shall witness the change it will bring to the area as well as the real estate sector around it.
Since the metro work is in full swing, it currently takes more than 2.5 hours to commute from Kandivali to Nariman Point. But once the work gets over and the Metro becomes operational, it will not take more than one hour under normal circumstances to reach your destination.
Besides, the Western Express Highway on the east and SV Road and Link Road on the west, the Kandivali Railway station on the Western Line also facilitates easy transport and commute. The New coastal road will be significant especially for the real estate sector as it will boost the prices of the vicinity through which it is passing through, Kandivali being an obvious beneficiary.
Rohit Poddar, managing director, Poddar Housing and Development Ltd
Views expressed are author's own.