Availability of affordable housing and proximity to Mumbai are making Majiwada popular with buyers
Being at the edge of Mumbai, Thane’s Majiwada has continued to be the focus of both end-users and investors for a long time now. Availability of vacant land parcels, influx of new residential projects at competitive prices and proximity to Mumbai, Thane and Navi Mumbai are the major factors that have worked in favour of this locality.
Its strategic location between Ghodbunder Road, Bhiwandi and Mulund makes it a preferred residential destination for the workforces working in all three directions. In addition, its proximity to Kalwa, which is planned to see massive commercial growth on the lines of Bandra-Kurla-Complex (BKC), is also expected to drive healthy housing demand here.
Commenting on the growth of Majiwada as a residential real-estate haven, Sandeep Ahuja, chief executive officer of Richa Realtors, a Mumbaibased real-estate firm, says, “Majiwada has the advantage of being close to the major industrial areas such as Bhiwandi and Kalyan; and the developing commercial pocket, Kalwa. With seamless connectivity by road and rail, the locality is preferred by both working professionals and businessmen for quality housing options.”
In addition to job opportunities and well-built connectivity, availability of affordable properties in comparison to neighbouring areas has been another major factor fueling housing demand in Majiwada. Property prices in the area are about 5% to 10% lower than those in Vasant Vihar or Pokhran Road, located about 5 km away.
High demand for housing units has attracted several major real-estate developers such as Rustomjee, Lodha Group and Cosmos Group to launch residential projects here. There are several integrated township projects in the locality. “Housing projects in Majiwada cover a very broad spectrum of demand and properties ranging from 1BHK apartments to lavish luxury homes are available here,” says Ahuja.
Infrastructure
The most awaited infrastructure advancement for Majiwada is the development of Kalwa as a commercial hub. Industry experts says that BKC-type commercial development in Kalwa, situated about 5 km from Majiwada, is expected to trigger massive employment opportunities. This will further increase housing demand and consequently property prices in Majiwada and nearby areas will also increase.
Improved connectivity by the Metro is another major infrastructure advancement that holds the potential to make Majiwada a prospective investment destination.
Moreover, development of road networks and new flyovers in Majiwada is also anticipated to impact connectivity and hence the real-estate market positively.
Ahuja of Richa Realtors says, “Of the three flyovers that are currently underway in Majiwada, one is expected to reduce the travel time to the Mira-Ghodbunder Road, while the second one leads to the Eastern Express Highway, which in turn connects to Mulund. The third one connects Majiwada to the Thane-Bhiwandi Road. This way, travel to Mulund and other parts of Mumbai will become less troublesome.”
For entertainment, residents can visit shopping arcades such as High Street Mall and Viviana Mall. Some of the popular resturants in the area include Mainland China, British Brewing Company, The United Sports Bar & Grill, Copper Chimney and The Yellow Chilli.
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