What makes Kalyan attractive for both investors and homebuyers?

Situated in one of the most developed states in India, a captivating real estate destination has steadily made its mark, capturing the attention of both investors and homebuyers. Kalyan, once considered a distant suburb of Mumbai, has transcended its boundaries to emerge as a resplendent real estate hotspot — owing to its strategic location, seamless connectivity, remarkable infrastructure and notable price appreciation.

Here are a few factors behind Kalyan’s ascent, its evolution as a realty hotspot, and rise in property prices.

Strategic location and better connectivity fueling the demand

Kalyan’s allure lies in its strategic location and excellent connectivity, which has fueled the increasing demand for residential properties. Situated within Thane district, Kalyan offers convenient access to major economic centers like Mumbai and Pune, making it an ideal choice for those looking for affordable houses. With its proximity to key transportation facilities, such as the Mumbai-Pune Expressway and NH-61, as well as upcoming projects like the Virar-Alibaug Multi-Modal Corridor, Kalyan boasts seamless connectivity. The presence of suburban train services, Kalyan-Dombivli TMT bus service, and proposed metro line further enhance its accessibility, making it a compelling destination for homebuyers. Emerging residential projects and developers are utilising this feature to deliver value and better returns.

Infrastructure development resulting in improved lifestyle

Kalyan’s transformation into a desirable real estate destination owes to its remarkable infrastructure development, which has improved the quality of life and attracted homebuyers. A host of infrastructure projects, including road network expansions, enhanced water supply, establishment of educational institutions, healthcare facilities and shopping complexes, have contributed to the city’s self-sufficiency. These developments have enticed individuals seeking a better lifestyle with modern facilities. Ongoing and planned initiatives like Kalyan Smart City have further elevated the city’s real estate profile.

Furthermore, developers have seized the opportunity, constructing a variety of residential properties that cater to the evolving needs and aspirations of Kalyan’s growing population. There are emerging luxury township projects, offering premium lifestyle, 360° distinguished amenities and stunning views of Kalyan’s cityscapes.

Industrial and employment opportunities empowering homebuyers

Kalyan’s emergence as a realty hotspot is bolstered by the presence of thriving industrial zones and a plethora of employment opportunities in its vicinity. Bhiwandi, Dombivli and Thane among others, are industrial hubs that offer a range of employment prospects, attracting homebuyers. The development of industrial corridors and commercial enclaves has created an economic ecosystem brimming with potential and prosperity.

These industrial and employment opportunities have had a profound impact on the demand for quality houses in Kalyan. Developers have recognised the allure of the city’s thriving economic landscape and have responded by creating residential projects catering to the needs and aspirations of homebuyers.

Reasons for price appreciation

One of the most compelling aspects of Kalyan’s real estate market is the rise in property prices. Over the past year, property values in Kalyan have witnessed a remarkable surge, making it an enticing investment option. The region is now Maharashtra’s seventh-largest metropolitan area by population, a testament to its growing prominence and increased residential demand. With ongoing infrastructure projects and planned developments on the horizon, the upward trend in property prices is expected to persist. As the city continues to evolve and expand, it will attract further interest from investors and homebuyers, solidifying its position as a thriving real estate hotspot.

The growth of Kalyan as a residential destination is a remarkable journey. From its beginnings as a suburb, the city has blossomed into a sought-after location for homebuyers and investors. With the upward trajectory of property prices, emerging residential projects, and Kalyan’s evolving potential in terms of infrastructure, employability, and connectivity, it joins the crescendo of success, embracing a promising future.

(The author is MD and CEO – Birla Estates.)