Five reasons why Palghar is a great residential destination
It’s a no-brainer that one of the most important factors that drive decision-making in real estate is location. And when zeroing in on a location, most of us will try and strike a balance between ticket size; current infrastructure and future development potential; quality of life; social amenities; and connectivity, depending on individual needs and preferences. However, we all envision and aspire towards comfortable living with our families in natural, green surroundings - a luxury not easily afforded by core urban areas. Suburban destinations offer a viable and reasonably priced alternative, especially those that are located in fast-growing and well-connected neighborhoods.
Let’s consider Palghar, Maharashtra’s newest district, which was carved out of old Thane in 2014. There are several potential benefits to buying a home in Palghar:
The dual advantage - Palghar is both a popular tourist destination and an emerging industrial hub. Situated in the lap of the Sahyadris, Palghar is home to several historic spots and natural attractions such as beaches, waterfalls, lakes, farmlands and orchards. The indigenous art of the Warli tribes (Warli painting) finds its origin in Palghar. Moreover, it is also a vibrant industrial destination and home to Tarapur MIDC; 5750+ small registered industries; 1880+ temporary, small registered industries; 425+ large/medium industries; and industrial colonies and estates. * Maharashtra's biggest fishing centre Satpati is located here. Of the 15 large approved projects under the Collective incentive scheme in Palghar, 7 have already begun production. There are also plans to build a new port in Dahanu taluka of Palghar district.
- A ‘high-potential urban residential destination - With rising demand for quality homes in India’s financial capital, Mumbai has continually rediscovered its affordability by expanding its urban growth boundaries along the populated western coastline - from Borivali, to Dahisar, to Vasai-Virar and now Palghar. And as Mumbai continues to widen its footprint, Palghar is seeing commensurate infrastructure development.
As the first developed locality after Virar, Palghar is expected to significantly benefit from the planned proliferation of new growth centres in MMR. Moreover, the presence of several reputed real estate brands; and social amenities such as banks, ATMs, shopping centres, healthcare and educational institutions, hotels and restaurants; and movie theatres adds to Palghar’s attractiveness as a well-developed real estate destination. Similarly, well-known hypermarkets such as DMart and Big Bazaar are important social development indicators.
- Location and connectivity - Situated 90 km from Thane, 100 km from Andheri and 113 km from Navi Mumbai, Palghar is well-connected to Mumbai and accessible from the Mumbai-Ahmedabad National Highway (NH8). The district is also a major railway hub - shuttle/MEMU/EMU (local trains) services already connect Palghar to Mumbai’s western suburbs. Iin addition, many long-distance trains halt at Palghar. The proposed quadrupling of railway lines between Virar and Dahanu Road, and future high-speed rail connecting Mumbai and Ahmedabad will further strengthen Palghar’s connectivity quotient. Palghar’s location can be termed as its ‘sweet spot’ - close enough to Mumbai to facilitate convenient and easy access to the city, and yet far away from the stress and strain of core city living.
- Infrastructure development - CIDCO has been appointed as the authority for the development of the planned Palghar District Headquarters. CIDCO is expected to spend ~Rs. 3800 Cr. on the new township development. The project will include the building of residential, commercial and industrial zones. The new township is also expected to have quality community centres, gardens and waterfront developments to add to Palghar’s visual appeal. Palghar’s elevation as a district and a new administrative system to focus on its growth underscores its reputation.
- Quality of life - The importance of healthy living in planned communities that foster social and cultural interactions, and provide opportunities for outdoor family activities in green, natural surroundings is steadily gaining ground. Palghar scores well on this front, as a residential location that offers homes with abundant open spaces, and an emphasis on health and wellness. A comparison of the temperature range across seasons, noise levels and the air quality index shows a significant difference - Palghar offers a cooler climate (by 2-3°C) and 50% lower air pollution levels**.
To sum it up, Palghar enjoys a reputation as a fast-developing urban hub in MMR - a budding industrial zone complemented by green, clean surroundings. With a number of initiatives taken up by the administration and the resultant growth in local economic activity, Palghar is today a coveted destination. Its scenic location, relatively cool climate and unpolluted environs enable well-balanced and healthy living to boot.
Real estate offers significant returns when investments are timely and well-evaluated – Palghar is one such urban growth opportunity waiting to be explored.
The author is Vimalendra Singh, Chief Sales Officer, Mahindra Lifespaces. Views expressed are author's own.