Affordable housing destination
Nov 19, 2013
Source : Business Standard

 

MUMBAI: Badlapur is a small town on the periphery of the Mumbai Metropolitan Region (MMR). Badlapur city is virtually divided into two areas, East and West, by the Central Railway track. Badlapur East is mostly built on the hills and so are some parts of Badlapur West. The Ulhas river flows between Kulgaon and Badlapur.

Badlapur has a locally driven economy. It has witnessed industrial growth thanks to spillover from Mumbai and is growing rapidly in terms of industrial development, providing employment to a large number of workers.

Badlapur is an affordable housing destination, given the high real estate prices in other parts of Mumbai. In terms of the residential sector, it caters primarily to the lower- and mid- income segments. Badlapur is cosmopolitan and attracts many migrants looking to settle there, thanks to the town's cost-effective housing options.

After Thane, Kalyan and Dombivli, Badlapur is fast becoming the next destination for discriminating homebuyers who tend to work in Mumbai but prefer to live in the suburbs because of the multiple amenities, as well as affordable housing affordable rates there.

Earlier, Badlapur tended to be defined largely by standalone homes with open areas and gardens. However, the trend is changing now; over the past two years, large apartment complexes have come up in Badlapur, whose residential growth is set to go vertical.

Badlapur's real estate sector, being among the latest emerging ones on the peripheries of Mumbai, is currently witnessing a lot of action by investors looking to cash in on the anticipated housing boom. Increasing demand in this area is assured in the future. Investment entry points at Badlapur are still within the affordable range.

The writer is head -strategic consulting (west), Jones Lang LaSalle India

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