The evolution of Kandivali as a residential hotspot in Mumbai
Oct 08, 2013
Source : The Times of India


MUMBAI: Kandivali has seen a drastic transformation in recent times. Homebuyers prefer this location due to its proximity to important commercial centres, like BKC and Andheri. With projects focused on modern lifestyles and amenities coming up in the area, buyers have another reason to rejoice. There are a number of exceptional facilities, like schools and colleges, restaurants, theatres and gardens in Kandivali; the area has undergone a complete makeover.

Hitesh Rawtani, a resident of Kandivali east, Thakur Village, says, “I have been living in this area for the past eight and a half years. Everything is a stone’s throw away. There are a lot of options for eating out too. The roads in Thakur Village were pretty bad and there used to be a lot of water logging during monsoons, with water from the mountain side and highways percolating here. This has now been taken care of by developing an underground drainage system and cemented roads, at least on the main Thakur Village road. With such a young resident population and college crowd around, I see it becoming a more happening place, with more places to hangout and an improved nightlife.”

Kandivali also has an excellent rail and road connectivity. The suburb provides a substantial network of roads and highways connecting the entire city, like the Mulund-Goregaon Link Road, Malad-Andheri Link Road and the western express highway. “The soaring real estate prices, space crunch and increase in demand for housing, saw the city expanding towards the suburbs. While south Mumbai continues to face space crunch, locations such as Kandivali, which is a new residential hub, have emerged as flourishing residential hotspots, with quality construction, plush homes and state-of-the-art lifestyle amenities that have been made available by developers. There is bound to be an upward revision in rates here, given the tremendous progress it has made in the last decade,” opines Percy Chowdhry, director, Rustomjee.

Originally, Kandivali was an industrial hub with the presence of headquarters of companies based here. Ravi Ahuja, executive director, Cushman & Wakefield, explains that the history of the area is responsible for its rapid growth.

“Kandivali has originally grown as an industrial hub, with the presence of companies like Mahindra and Mahindra, Tata Steel and Associated Capsules, operating out of this location. The entire western suburb has witnessed high preference from the end-users over the years and with lower capital values compared to locations like Bandra, Andheri and Malad, the demand for residential apartments in Kandivali grew. Easy connectivity through the western express highway and the suburban rail network to commercial office locations has helped Kandivali grow as a preferred residential destination. In the early 2000, the eastern part of Kandivali witnessed a number of high-end developments along the western express highway, due to the presence of large land banks,” adds Ahuja. Since then, Kandivali has been developing, growing and redefining itself to become what it is today.

Close proximity to other parts of Mumbai and commercial destinations like BKC, Andheri and Goregaon, make Kandivali a residential hotspot. Siddharth Bhatia, marketing head, the Wadhwa Group, says, “Kandivali is a largely residential suburb with an urban makeover and developers are eagerly cashing in on its proximity to the arterial western express highway and improved infrastructure. Kandivali, over the decade, has undergone a complete urban transformation and now, rates as one of Mumbai’s fastest developing suburbs, preferred retail destination and known for its educational institutions. Its landscape is now adorned with a huge number of high-rises and housing complexes.”

He adds, “While the eastern part of this suburb has witnessed the bulk of construction activities, given the ample land available and a booming demand, Kandivali, with its large Gujarati population, is the ideal destination for the suburban crowds. Cleanliness, excellent connectivity, affordability and well-defined distance between its residential complexes and commercial areas, are some of the key drivers. The area also has a multi-ethnic mix of houses and shopping malls, leisure sector and entertainment zones, making the location a wise choice for anyone.”

With so many advantages in the area, the property prices are in the mid segment. There are a range of projects available, from affordable housing to high-end lifestyle apartments in Kandivali. “The approximate price range in Kandivali west is Rs 11,500-15,500 per sq ft and the eastern side is Rs 10,000-13,500 per sq ft. Residential prices in ready projects are expected to remain stable. However, under-construction projects are expected to witness a correction in the range of 5-10 per cent,” informs Ahuja.

Profiling the population in Kandivali, Subhankar Mitra, head-strategic consulting (west), Jones Lang LaSalle India, discusses the different types of people residing in this area. “The availability of decent-sized land parcels, redevelopment schemes on private and public society layouts, redevelopment of slum and industrial lands is catering to the much eminent residential property demand in Kandivali. The population profile of these suburbs is marked by consumer class SEC A and SEC B population, which is driving the residential and retail sectors. Burgeoning upper-middle-income groups and high income group population is fuelling the residential development in this area. Nuclear families and dual income households mark the profile of the residents, with higher disposable incomes. Kandivali has the best of social amenities, with the presence of quality schools, colleges, healthcare and recreation facilities.”

Regarding the future of Kandivali, experts believe that demand for this location is expected to continue, with quality projects under development. Bhatia concludes, “Specifically, the east side of Kandivali still has a lot of empty land, even attracting people who wish to buy land and make investments. The area is blessed with fresh air, the national park nearby, greenery and hilly outskirts close to the nature. The best thing about this place is its friendly atmosphere, safety and easy transportation. Kandivali is likely to get more accentuated in the near future, with many more developers waiting in the wings to announce their new projects, while the existing ones make merry of a rising demand.”

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