Both Kalyan and Dombivli have an industrial
belt up to Badlapur. This provides very good employment opportunities
for people residing around the region.
Buoyed by the positive sentiment led by the
government, the Indian real estate market is at the cusp of a recovery.
According to a report, the twin city of Kalyan-Dombivli, on the
outskirts of Mumbai, will be one of the biggest beneficiaries of this
boom.
The Kalyan-Dombivli stretch comes under
Kalyan-Dombivli Municipal Corporation (KDMC) and forms a part of Mumbai
Metropolitan Region (MMR). This respective location is witnessing the
development of new residential projects at a fast pace. Developers that
operate in this area include Lodha Group, Nirmal Lifestyle, Raunak
Group, Laxmi Housing Builders & DevelopersLaxmi, Versat ile Housing
and Mehta Group, among others.
Kalyan-Dombivli's real estate has recently witnessed a
boom, primarily due to the increasing prices in Mumbai suburbs and
growing demand for affordable housing in Mumbai. A proposal for
extending the Navi Mumbai metro rail to Kalyan too has fueled the growth
for housing in Kalyan-Dombivli, highlighted the report.
The twin city has large industrial belt to its
south-east from Kalyan to Badlapur. There are several small and large
industries concentrated in this region.
The availability of local trains from Dombivli has
made it a prominent suburb of MMR. The region has seen a rise in
population in recent years which reflects its increasing demand in the
last few years.
The Maharashtra Industrial Development Corporation
(MIDC) has developed a big industrial complex around Dombivli. Kalyan
junction is currently one of the major railway stations on the central
line of the Mumbai Suburban Railway network. It is also the third
busiest station in the suburban railway network, after Thane and
Andheri.
Factors driving growth:
The primary factor driving the real estate growth in
the Kalyan-Dombivli is the sky-rocketing prices in Mumbai suburbs,
coupled with the growing demand for affordable housing.
Mumbai continues to attract migrants who come to the
financial capital with hopes of employment opportunities. This has
increased the demand for affordable housing. Yet, the present capital
values have led a huge gap in demand and supply, though there is unsold
inventory of up to four years.
Property values in the Kalyan and Dombivli area
offers projects within the affordable range. For example, the average
property value in Dombivli East is about Rs 5,440 per sq. ft while it is
about Rs 6,040 per sq. ft in Dombivli West. The average property value
in Kalyan East is about Rs 5,230 per sq. ft while the average property
value in Kalyan West is about Rs 5,920 per sq. ft, the report added.
Another factor driving demand is the availability of
industrial belts and improving infrastructure around this area. Both
Kalyan and Dombivli have an industrial belt up to Badlapur. This
provides very good employment opportunities for people residing around
the region.
The City and Industrial Development Corporation
(CIDCO) has planned to extend its Belapur-Taloja metro rail service up
to Kalyan and Ulhas Nagar. This is expected to give a big boost to the
economy as well as real estate around Kalyan. MMRDA has also planned to
lay down a road networks including a 29 km Kalyan ring road in Kalyan
region.
Kalyan and Dombivli have very good connectivity to
parts of Mumbai and other cities via the Kalyan-Shilphata Road, Agra
Road and National Highway 4. This also increases the growth prospects of
the region. The proposed Navi Mumbai International Airport is at a
distance of less than 35 kms.
Kalyan-Dombivli realty market witnessed stagnation
in property prices over the past few quarters which could be primarily
attributed to the overall slowdown in the real estate market in the
country.
However, affordable property prices, good
connectivity to other key areas in the MMR and the various market trends
go on to indicate that the region has good growth potential in the near
future.
“With sentiment improving all around in the realty
sector, the area is set to witness high demand for affordable housing.
With various infrastructure projects in the pipeline, the realty market
here is showing positive trends and it is expected that one can easily
witness a price appreciation of about 20-25 per cent over the next few
quarters.
To Buy Property in Kalyan and Dombivli or Know More about Builders and Developers Contact Us at 022 2580 6868
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