MUMBAI: Located off the Thane-Ghodbunder Road, Majiwada is one of those locations where residential real estate market is riding high on connectivity. Experts say that the area is expected to drive significant residential demand in the coming years. Apart from enhanced connectivity, social infrastructure and comparatively lower prices has gradually rendered Majiwada a prospective residential option for home seekers.
Majiwada is surrounded by three important roads namely Ghodbunder Road, Eastern Expressway and Thane-Bhiwandi Road. “There are three flyovers under construction at present in Majiwada. One of these would reduce travel time to Mira-Ghodbunder Road while the second one leads to Eastern Expressway which in turn connects to Mulund. The third one connects Majiwada to Thane-Bhiwandi Road,” informs Wasim Akhtar, co-founder, Property Fete.com.
At present, people working in areas such as Borivili, Malad and Kandivili are wary of residing in Majiwada. Travelling to Borivili from Majiwada takes about an hour and above. Since one of the under-construction flyovers ensure connectivity to Mira Road within 10-15 minutes, it would become easier and faster to reach locations such as Borivili and Malad for work. Similarly, the flyover connecting Majiwada to Eastern Expressway would make travelling to Mulund less cumbersome.
Apart from improved connectivity, Majiwada also offers comparatively lower capital values. For instance, buying a house in Majiwada would cost you about Rs 1,000-2,000 per sq ft lesser as compared to neighbouring areas such as Borivili, Malad and Kandivili. “At present, buyers do not prefer Majiwada as it is not easily accessible from other parts of the city. However, once the flyovers are ready, travel time to locations such as Borivili and Kandivili would be reduced drastically. Hence, it would not be a bad option to invest in Majiwada,” says Surendra Yadav, owner, Platinum Properties.
“Capital values vary from Rs 8,000-11,000 per sq ft in Majiwada,” informs Akhtar. On the other hand, values in Borivili, Kandivili and Malad vary from approximately
Rs 11,000-16,000 per sq ft, as per MagicBricks.com.
Another reason that may compel a home buyer to consider Majiwada as a potential residential destination is the availability of social amenities. The locality is popular for malls such Viva City Mall and R Mall, that attract shopping buffs from various neighbouring localities. Moreover, the locality has several educational institutes, hospitals and neighbourhood markets.