The fast-developing western suburb of Mira Road has lots in store for potential buyers
Everybody wants a home at a low price, with good amenities, good supporting infrastructure support and in a good lo cation! If you think it is not possible to get such a home package in Mumbai, then wait! You must check out the realty location at Mira Road if you are targeting for an all-in-one package. “As realty prices in Mumbai began rising, people started migrating northwards. The MiraBhayandar region benefited from this movement and people started moving towards Virar-Vasai. Until the mid-80s, the area of Mira-Bhayandar was a part of a gram panchayat and mainly consisted of agricultural land. The area, being located very close to Mumbai, and having easy accessibility by road and railways to the city, resulted in further increase in population. The municipal council was changed to a municipal corporation in the early 2000s as population increased. Most of the development in Mira Road has occurred only on the east side, whereas, the west is covered with salt pans and mangroves,“ explains, Ashutosh Limaye, head, research and real estate intelligence service, JLL In dia. The residential flats in Mira Road are the most preferred property investments among people due to their good connectivity, affordability, availability of facilities and improving infrastructure that are needed for a modern livelihood.Surjit Singh, president, marketing, RNA Corp, says, “The area has been transformed into a `suburb' from a distant satellite town. You tend to get the best of both worlds homes at competitive prices and proximity to Mumbai.“
INVESTMENT RETURNS
One of the major reasons responsible for the development of Mira Road is the active MiraBhayandar Municipal Corporation (MBMC). With the infrastructure development and growth, many industries and companies have been set up there, thus boosting job opportunities in the area.
The MBMC has many such development plans like setting up a sewage treatment plant under JNNURM; establishing of two more fire stations; upgrading of storm-water drain systems and slum rehabilitation.
Brotin Banerjee, MD and CEO, Tata Housing Development Company, says, “Mira Road and Dahisar are preferred loca tions for the buyers due to reasons like connectivity and affordability. These areas have recently witnessed a number of upcoming projects that offer a good mix of housing from premium, affordable to integrated townships along with support facilities like schools, colleges, hospitals, malls and amusement parks. With housing in suburbs like Kandivali and Borivali moving beyond the affordable range, the next location that affordable housing buyers are turning to is the Mira Road and Dahisar belt. In fact, a little further is Boisar which is also gaining popularity as a commercial and residential hub.“
...ON A GROWTH PATH
Experts acknowledge that once known as an agricultural land area, which was deprived of the basic facilities, including water supply and electricity, Mira Road now enjoys all the facilities and is a rapidly-developing suburb these days.Affordable housing facilities, good connectivity, better infrastructure and quality lifestyle, make the Mira Road belt a favoured destination in the western suburbs. The real estate western suburbs. The real estate scenario has also witnessed a strong transformation with a seamless expansion of develop ment along the western express corridor. Achyut Hange, commis sioner, MBMC Mira Road, says, “For good connectivity to Mumbai city, Thane and Navi Mumbai, six flyovers have been constructed along the western express high way. Witnessing so many new projects in Mira Road, the de mand from residents from Mum bai to invest in a property in Mira Road is on the rise. Also, the MM RDA has constructed a skywalk near Mira Road railway station to offer more ease to residents. Mira offer more ease to residents. Mira Road is still developing with roads, subways, flyovers and drainage systems undergoing improvements. So in the next five years, it would be the most attractive locality.“
Dhaval Kumar, a resident of the area says, “It is an ideal location for buyers who want to enjoy a good lifestyle and stay close to Mumbai. Prices in the area are proportional to the amenities, which the residential complexes offer. You can easily find wellventilated flats and houses with schools for your children. Prices in the area have increased by 20 to 25 per cent.“
Gaurav K Shah, director, marketing, Ravi Group concludes, “The growth in infrastructure has acted as a stimulus for the growth of real estate in the region in the recent past. With the many initiatives taken by the corporation, the development profile of the area is now a mix of a number of housing projects from premium, affordable to integrated townships along with support facilities like schools, colleges, hospitals, malls to amusement parks.“
In Mumbai every years more than millions of people are migrating and due to that its essential and responsibility of real estate developers to make the much number of affordable residential units in Mumbai to cater the housing needs of the city. These days real estate developers are building much number of 2 BHK flats in Dombivli because it is the region which is attracting many new people due to good connectivity and presence of other facilities.
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