Bhiwandi property market: An overview

The region of Bhiwandi dates back to much before the Mughal rule in India. Back then, it was known as Islamabad. In fact, there is a mosque on Eidgah road, named after the locality. The Islamabad Masjid is a significant landmark of Bhiwandi. Bhiwandi is known for having the maximum number of power looms in India. It is, thus, called ‘the Manchester of India’.

 

Bhiwandi is proving to be a well-coveted region of Maharashtra. The locality enjoys close proximity and accessibility to developed areas of Mumbai Central, Thane, Kalyan, Vasai, Wada and Borivilli, as well as Nashik, Shirdi, Aurangabad and Pune.

 

Connectivity with nearby Bhiwandi localities

The locality is well-connected to various developed areas and a number of hotels, schools, banks and hospitals via an excellent network of railways and roadways.

• MSRTC bus services operate in this locality and provide accessibility to various parts of Mumbai.
• The nearest railway station is situated at a distance of 2 kilometres.
• The nearest airport is the Chhatrapati Shivaji Maharaj International Airport, which is situated at a distance of 32 kilometres.
• The Mumbai-Agra Highway, which passes through Bhiwandi, provides connectivity to Mumbai, Thane and Nashik.

 

Employment hubs near Bhiwandi

Bhiwandi is known for its textile industry and has the biggest power looms in the country. It is a big industrial hub for the textile industry. Being situated close to Mumbai, Thane and owing to the development of the region by MMRDA, Bhiwandi is now a popular commercial hub with ample employment opportunities.

 

Schools in Bhiwandi and other social amenities

Bhiwandi provides its residents with all kinds of social amenities to live a happy and peaceful life. Various schools in Bhiwandi include Zaid Primary School, Balaji Hindi High School, Saraswati English High School, NES’s English Medium School, Peli School and many others.

The major hospitals in Bhiwandi include Globe Medical, Leela Joshi Hospital, Old Government Hospital, Late Kashinath Patil Hospital and Life Line Hospital.

Apart from these it also provides recreational amenities and proximity to various banks and ATMs such as Bank of Maharashtra, Saraswat Bank, Yes Bank, Vijaya Bank and ICICI Bank.

The locality also provides its residents with many luxurious shopping centres including Magnet Mall and Korum Mall.

 

Physical infrastructure in Bhiwandi

• The Thane-Bhiwandi-Kalyan Metro railway line is being built by the government.

 

Price trends in Bhiwandi

• Price depreciation – Around 8.43% in last 43 months.
• Current property rates- Rs 2,160–Rs 6,025 per sq ft.

 

Reasons to invest in Bhiwandi

Although the price rates have been seen to be decreasing in the present scenario, the increasing demand of properties owing to population increase in Bhiwandi, will soon cause property rates to rise. So, investing in Bhiwandi will prove to be quite lucrative in the future. One can easily buy properties in and around Bhiwandi at the present low rates and wait for the development to kick in.

Big-ticket projects like Squarefeet Regal Square, The Wadhwa Rhodesia, Haware Engineers Paradise and Ornate Kallisto are among the best projects to invest in Bhiwandi. Thus, Bhiwandi promises to emerge as a rather posh and coveted residential neighbourhood in the near future.

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