Real estate booms in the Kalyan Dombivli stretch
This growth corridor is witnessing the development of new residential projects at a fast pace
Jul 08, 2013
Source : The Times of India

 

MUMBAI: The Kalyan-Dombivli stretch in the western part of Maharashtra, is the new stretch of real estate growth in the state. Kalyan and Dombivli come under the municipal corporation of Kalyan-Dombivli Municipal Corporation (KDMC). It falls in what is now called the greater Mumbai built-up area.

Neighbourhood localities along this stretch include Thane, Bhiwandi, Ulhasnagar and the municipal councils of Badlapur and Ambernath. This growth corridor is witnessing the development of new residential projects at a fast pace. Some developers that operate in this area are Nirmal Lifestyle, Dynamic Buildtech Ltd, Saisatyam Group, Ashapura Constructions, Lodha Group and Gajra Group, among others. The residences offered in ongoing projects are in the budget of approximately Rs 23-82 lakhs.

As per MagicBricks.com data, in the quarter of March to May 2013, 1 and 2-BHK apartments saw the highest demand in both, Kalyan and Dombivli. Kalyan recorded 58 and 37 per cent demand for 1 and 2-BHK apartments respectively, while Dombivli recorded 63 and 33 per cent demand for the same.

Bandish Ajmera, president, MCHIKalyan-Dombivli unit opines, “Kalyan-Dombivli and its peripheral region has affordable housing, large homes for the middle-class and also, premium and luxury segment homes.” The reason behind the demand in the area is the civic infrastructure. Being one of the largest localities of the Mumbai Metropolitan Region (MMR), the Kalyan-Dombivli belt has adequate water and electricity supply, garbage disposal system, parks, playgrounds and other amenities.

The transport network of the area is well-defined too. Autorickshaws, buses and trains are the popular modes of transport here. The main and side roads are in a good condition, allowing locals to move around seamlessly.

Employment opportunities have also contributed in making this stretch popular. While new job opportunities are coming up around these locations, there are also employment prospects at Thane and Navi Mumbai, so not everyone needs to commute all the way to the heart of Mumbai to earn a living. Even people looking for opportunities in Pune, find locations in and around Kalyan-Dombivli a good ‘halfway house’, which enables them to stay close to their area of employment without completely cutting off ties with Mumbai or Pune. There is a lot of potential in the Kalyan-Dombivli region and its neighbouring areas, especially for budget housing, with hues of lifestyle-plus premium homes.

Another factor is the developed social fabric. Good schools, medical facilities, markets, shopping malls, educational institutes and others, have made Kalyan-Dombivli a favoured residential growth corridor. Commercially, this region is undergoing industrial and infrastructural growth – be it the SEZs or the MIDC estates, along with the transport linkages that are being implemented, making it a vibrant residential location. Areas in and around Kalyan-Dombivli are also fast witnessing new developments and infrastructure growth. Manju Yagnik, vice-chairperson, Nahar Group, says, “Within two-three years, as the social and physical infrastructure picks up, these areas are expected to develop even more. In the last year, the locality has witnessed a rise of almost 30 per cent in the capital value of apartments, owing to the huge demand spilling over from the main cities.”

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