Kanjurmarg-Mulund-Bhandup belt, considered to be an industrial powerhouse till recently in Mumbai, now swiftly is becoming a luxury housing center. Over the last few years, the area has witnessed a huge surge in demand for high-end residential properties, primed by a mix of infrastructure development, state-of-the-art projects and changing land use. What was considered merely an industrial zone is now in the prime destination for luxury living spaces.
Infrastructure: The game changer
The most compelling reason for the rising popularity of the belt is due to the steady improvement of infrastructures. This region comes between the Eastern and Western Express Highways, making it quite accessible to major business districts like BKC, Powai, and Thane. All this connectivity is sited by the professionals who want to be close to work but live in modern residential comfort at the same time.
The expansion of the Mumbai Metro is also another key factor of change. With lines like Metro Line 4 and 6, to name a few, with these direct connectivity points available for places like Andheri, Vikhroli, and Wadala, travel time will reduce not only with hassle-free commuting but also add more to the list of features that makes this region attractive for would-be homeowners. In addition, the construction of the Goregaon-Mulund Link Road and the Airoli-Mulund Bridge will further help decongest the traffic so that this belt would be more accessible.
From factories to luxury living
In fact, historically, Kanjurmarg, Mulund, and Bhandup were industrial locations where large parcels of land were taken up by factories and warehouses. Land-use policies have shifted now, and developers feel they can convert these industrial areas into planned residential hotspots. Here high-end residential projects have mushroomed with all the modern amenities targeting affluent buyers.
Today, the belt is witnessing a surge of real estate activity. Developers are launching projects with upscale amenities such as state-of-the-art gyms and infinity pools, landscaped gardens, and smart homes equipped with advanced security features. They target the end-user who’s looking for a home as much as a luxurious lifestyle. Area support is well-excelled, combined with the growing availability of premium amenities, is attracting investors and end-users alike.
The rise of Kanjurmarg as a commercial hub
Plans to major corporate office and business parks are underway in the area, which would feed a large amount of commercial activity into the locality. Since Powai and BKC business districts have reached extreme saturation levels, the Kanjurmarg platform becomes the cheapest and most accessible option for companies to set up offices there. Consequently, houses in its area gained more attraction to house hunters who are looking for luxury houses that could be competed for by professionals working within the said business districts.
Large commercial developments by Grade-A developers such as Godrej, Runwal and other prominent players are further enhancing the area’s appeal. Even as the commercial spaces are expanding, increasing demand for luxury residences in this location is on an upsurge. Salaried individuals who work in these corporate centers prefer to reside close to their workplaces to avoid daily crawling through traffic so easily they can reach their workplace quickly. The symbiotic relationship between commercial and residential real estate is the main reason why Kanjurmarg is emerging as a luxury housing destination par excellence.
Mulund: A perfect blend of connectivity and nature
Mulund is one of the east suburbs of Mumbai, known more for serenity and peaceful residential impression, but it is the balance it offers to the people between the urban usages and greenery that makes Mulund stand out from the rest. The connectivity in this area to the rest of Mumbai on the Eastern Express Highway, LBS Marg, and Mulund-Airoli Link Road helps make it a perfect location for residence for people who may have to commute daily into the business hubs.
In addition, Mulund is much more peaceful in comparison to the more alive regions of South Mumbai. With many parks and gardens and access to Powai Lake, Mulund brings together a rare combination of city life and a touch of nature. It is therefore a destination normally attractive to families seeking a quiet lifestyle but still connected and similar-minded individuals.
Bhandup: A rare real estate hotspot
Bhandup is one of the most preferred locations for a place to live in Mumbai with an extremely wide variety of real estate choices. The housing developments in the area range from flats to standalone houses, villas, and land, making the region a huge favorite among investors and residents alike. Developers across categories are making sure that the residential real estate market in the region is expanding at a rapid pace. Consequently, commercial real estate in the region is experiencing a boom due to the growing residential real estate. Residential rental apartments, industrial buildings, retail spaces, etc. – a wide variety of commercial real estate possibilities have driven the recent upswing in Bhandup. As a well-established micro-market, it has good social infrastructure and convenient connectivity to other important MMR locations. Major local facilities are Fortis Hospital, IIT Bombay, St. Xavier’s High School & Jr. College, etc. Some of the popular retail destinations in the area include Viviana Mall, R City Mall, Neptune Magnet Mall, Dreams Mall, etc. The office/industrial premises of Ackruti Corporate Park and Bhandup Industrial Area are also present in the area. Well-connected with JVLR, Mulund-Airoli Road, Suburban Railway, LBS Road, and Eastern Express Highway.
The future of the Kanjurmarg-Mulund-Bhandup belt
The future looks brighter for the Kanjurmarg-Mulund-Bhandup belt as it will be nearing the finishing line in infra projects and commercial activity is going to rise further. So, it waits with huge expectations-the demand for luxury homes to shoot up further, property prices to appreciate further and the area to further cement its position as a luxury housing destination with the launch of more high-end residential projects.
This is a perfect opportunity for the developers to be benefited with the advancing interest in this region. And as a homebuyer, this belt would mean the worthwhile combination of current amenities, wonderful connectivity, and peaceful residential life. So if you are an investor or going to look for a prestigious place close to your work, then the Kanjurmarg-Mulund-Bhandup belt is definitely worth viewing for investment.
To conclude this, it is no coincidence that the Kanjurmarg-Mulund-Bhandup belt has transformed overnight into a luxury housing boulevard. Instead, strategic infrastructural upgradation and commercial growth coupled with the smart use of erstwhile industrial land have worked together to bring about this transformation. Much with the advantage of modern conveniences and excellent connectivity, this belt is going to be one among the most popular residential destinations in Mumbai.
(The author is CMD, Arkade Developers)
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