BADLAPUR: AN INFRASTRUCTURAL BOOM : The Times of India

During the last few years, the growth in Badlapur has been on an upward path and the future looks promising for both, buyers and real estate developers

Diwakar Mhatre, a businessman, bought a flat in Badlapur four years ago, as he was looking for an investment within a specific budget.

“As there are limited options for the middle income group family, most of them search for areas, which suit their budgets.“ According to Subhankar Mitra, head, strategic consulting (west), JLL India, “Currently, Badlapur is seen as an affordable housing destination, given the high real estate prices in other parts of Mumbai. In terms of the residential sector, it caters primarily to the lower and mid-income seg ments.“ Recently, the city made headlines due to the steepest hikes in real estate values in the locality.“The massive infrastructure development in Badlapur and the saturation of the residential real estate market in Mumbai and Thane, have led to its massive residential development. Availability of a vast expanse of land at prices cheaper than Thane and Mumbai, has ensured the prices of properties remain in the affordable range of Rs 10-45 lakhs,“ says Mayur Shah, managing director, Marathon Group. Lifestyle has been the main reason for its increasing demand apart from the growing infrastructure. Mahesh Khare, a local property consultant says, “An individual needs to invest approximately Rs 35-45 lakhs to own an under-construction property here. With property values going sky-high in Thane, Kalyan and other areas, Badlapur is becoming the most obvious choices for buyers.“ Mohan Tharwani, managing director, Tharwani Infrastructures says, “Kalyan, Badlapur and Tiwala are considered to be the most sought-after affordable luxury areas, wherein you find homes at affordable costs with all the luxurious amenities.“ Sunny Bijlani, director, Supreme Universal, adds, “Currently, the extended suburban markets are on the wish-list of a lot of buyers, as the rates here are more affordable as compared to the other areas of the Mumbai Metropolitan Region (MMR).“

The Maharashtra Industrial Development Corporation (MIDC) has developed an industrial area within the area governed by the KulgaonBadlapur Municipal Council. This industrial area is reserved primarily for chemical industries. The industrial belt that stretches till Badlapur has led to an increase in employment op portunities, thus escalating the demand of affordable housing. Dhruv Jaywant, CMO, Ahuja Constructions, says, “The availability of large land parcels and rising demand, has encouraged the development of the Ambernath-Badlapur region, which has emerged as the next sought-after destination. Ravi Ahuja, executive director, Cushman & Wakefield, feels, “These locations offer affordable options of plots and apartments and have witnessed high levels of interest from end-users and investors. Connectivity to the business districts through the suburban railway network and National Highway-3 has helped the growth of these locations.“ Dipesh Gandhi, a resident of Badlapur says, “Badlapur east is better developed and in the future, this area will be connected to the Panvel airport via Navi Mumbai.“