Hridesh Pathak left Mumbai in 2001 for the UAE and now he wants to make an investment in the city's property market. When one of his local contacts told him about Titwala, he got apprehensive. "I knew the place is known as a devotional tourist spot and I have visited the place as well many times for its famous temple but to say that it is an affordable housing destination, appeared to be a far-fetched assumption. However, as this is one area, which has just started to shape up as a residential zone and due to the lower ticket size, topography and planned developments, it promises to give sizeable returns."
This property destination is fast emerging as an investment magnet with an affordable ticket size. Titwala is a small town near Kalyan that is situated on the banks of the seasonal river, Kalu. It covers an area of 507.881 hectares and has been famous for the Siddhivinayak Mahaganpati Temple.
What makes it an attractive proposition from the standpoint of property market, is that Titwala is the third railway station on the central railway from Kalyan Junction on the CST-Kasara route of the central line and the time needed to travel via train from Kalyan is approximately 15 minutes. By road, Titwala is around 15 kms from Kalyan. The nearest international and domestic airport from Titwala is around 75 kms in Mumbai.
Titwala is also a railway terminal for local trains. Titwala local Trains (TL) from Chatrapati Shivaji Terminus (CST) are terminated at the Titwala station. Local trains on the central railway are further extended to Asangaon and Kasara station, which halt at Titwala station. This primarily devotional tourist attraction is developing into a residential area, with increased population and standard of living. Its proximity to the main Kalyan terminal (20-25 kms) is attractive to those who are looking for affordable housing.
Santosh Naik, MD and CEO, Disha Direct, maintains that Titwala is the local station on the central railway and this is the biggest advantage for it. Till a few years ago, it was a second home and farm house destination but now it is emerging as a budget residential destination.
"Many residential complexes are coming up and people are buying these apartments as budget homes. The average capital value of the residential property in the region is around Rs 3000 per sq ft and the average ticket size is around Rs 20 to Rs 30 lakhs," says Naik.
Mohan Tharwani, managing director, Tharwani Infrastructures maintains that Titwala benefits from excellent connectivity, thanks to the Kalyan-Ahmednagar Highway and NH-3 and good wide roads as well. The Titwala-Ambivali road is a busy arterial road within this locality as well. Besides, it offers a relatively peaceful and serene environment, with vast open spaces. The nearest commercial centres are Bhiwandi and Ambernath (20-23 kms).
"Titwala also has a number of quality schools such as King George High School and KMT Public School, and a few hospitals. It has recreation facilities close by, such as water parks and resorts like Ammu Water Park & Resort, and Shree Ganesh Park. The relatively affordable property prices in Titwala have led to a significant rise in demand for residential apartments," adds Tharwani.
Shrikant Shitole, managing director of Tycoons Group feels, Titwala stands today where Kalyan was a decade back and this market is showing the same signs of organic growth. "In terms of both, the price point and the size of the apartments on offer, it is an ideal choice for the working class."
Source: content.magicbricks.com
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