Redefining the western suburbs

Every city has its own momentum of development and growth. And suddenly, areas that one thought would not be very exciting places to stay become hotspots. According to the 2010 census, Mumbai now houses around 14 million people, which makes it India’s mostpopulous city and the world’s second-most populous city. It is also India’s richest city because it has the highest GDP.unfortunately; it also has an extremely complicated and lopsided real estate market. Properties in the island city are notorious for being the most expensive real estate in India. This has caused the city to grow far into the mainland in the north and east directions, and this has resulted in the working population having to commute at least two hours to and from work every day. To compound it all, there is a massive annual inward migration of aspiring job seekers into Mumbai. The city has been bursting at the seams for quite a while now, and its infrastructure is rocking and reeling.  Mumbai is no exception to this rule. Once it was Nariman Point as the business district, then quite rapidly it moved to the Bandra Kurla Complex and to Lower Parel.

The same is happening with housing. Once it was South Mumbai. Then it was Juhu and Santa Cruz, then it moved to the Lokhandwala Complex.And while some were looking at Vasai-Virar and Panvel as the next boom-time areas, the western suburbs have begun to attract both developers and home-makers alike.

Many real estate projects have been establishing in the western suburbs.

Some of the hotest real estate projects include Akruti Aditya-Grant Road ,Shreepati Castle – Grant Road, Shreepati Tower  – Girgaon,Soham Towers  – Walkeshwar,Orchid Towers  – Bombay Central,Next Gen Era  – Lower Parel,Legend  – Worli, Atlantis  – Worli ,Horizon  – Worli ,Trinity Towers – Prabhadevi ,Siddhivinayak Horizon – Prabhadevi,Prithvi Emperor – Prabhadevi,La Sonrisa – Matunga,Omega  – Lower Parel,Harmony  – Worli,Queens Court – Worli ,Fairmont-khar.

Talking about lower parel,the area was dominated by textile mills some decades ago (which all went defunct). The lands of these mills are being redeveloped in large stand alone housing buildings such as Ashok Towers (one of the tallest buildings in Mumbai with its own football ground), Ashok Gardens, Kingston Towers, and Kalpataru Habitat.

Lower parel has seen huge property price appreciation in excess of 8X over the last 10 years. Cafe’ Coffee day has finally opened up here; MTV has its head office in Parel. Maharshi Dayanand College of Arts, Science, and Commerce is situated next to MTV office, near ITC Grand Central Hotel and opposite to Mahatma Gandhi Hospital in Parel at Dr.S.S.Rao Road.

People aspiring to have a lifestyle, the neo-rich, the corporate sector, who want to buy a flat in Lokhandwala, those who have missed the bus somehow, now have an opportunity – by moving to Goregaon.

There is a Link Road on both sides of Goregaon – one linking Andheri to Malad, and another linking Jogeshwari to Vikhroli.Thus the connectivity to the East is simple and convenient. What place is better than Goregaon to stay in? Given the opportunity, I’d like to shift here.Everything from business hubs, shopping malls, theaters to schools and hospitals is present in Goregaon. And Gaiwal from the Corporation has been extremely important in the development of this entire suburb, bringing it recognition which was lacking earlier.Earlier, Goregaon was lacking recognition.People still had that feeling of being in the midst of a clustered, unorganised development.

Kandivali is a busy station along the Western Line on the Mumbai suburban railway. Road connectivity is provided by means of Western Express Highway on the East, S.V. Road and Link Road on the west. A Metro line, terminating at Charkop, had been proposed which was supposed to be completed by 2011. But the project has been delayed due to unavailability of land for car sheds at both Charkop and Mankhurd

The fast developing western suburb of Mira Road is all set to become one of the most sought-after residential destinations considering good connectivity and affordability.

One of the major reasons responsible for the development of Mira Road is the active Mira-Bhayandar Municipal Corporation.

Today, the cost of homes in buildings with G+ 5 storeys and without too many amenities is between Rs 4,000 and 4,500 psf. The cost of homes in tall buildings of about G+14 floors is between Rs 4,800 and 6,000 psf. Mira Road offers easy connectivity to all directions of the city – Mumbai, Thane and Navi Mumbai. The Mira-Bhayander belt enjoys easy accessibility from the western suburbs through the Western Express highway, and Thane through the Ghodbunder Road. Due to its proximity to Mumbai and better connectivity to Thane and Bhayandar , there has been a significant growth of population in this area. Besides, the entry of Thakur Mall, Cine Max Theater, Rassaz Theater, Reliance Fresh, Big Bazaar, Spinach and Reebok Store has increased the profile of the area.

Some of the renowned developers in Mira Road include RNA, Sanghvi Group of Companies, among others. Their prestigious projects include RNA Viva, RNA Courtyard, RNA Liberty, RNA Broadway, Sanghvi Ecocity, Sanghvi Clock Tower and so on.

In terms of accessibility, the Western Express Highway, S. V. Road and Linking Road along the western line have made Mumbai’s western suburbs very attractive to upper mid-income homebuyers who are seeking a better lifestyle. In fact, the direct road connectivity offered by the Western Express Highway has caused Thane’s Ghodbunder Road to emerge as an extended western suburban destination.
*. In the Western Suburbs, Malad and Goregoan have been the examples of destination development in the past where developers like Raheja and Oberoi have created a cluster of excellent commercial office, retail and residential projects.
*. Similarly, the Versova-Andheri-Ghatkopar Metro will make locations along its route very lucrative for both commercial and residential space developers.

Source : Accommodation Times News Service