Mumbai Real Estate: How The Exurbs Have Become The New Hotspots

Mumbai Real Estate: How The Exurbs Have Become The New Hotspots

Many of Mumbai’s exurbs have experienced notable evolution in their real estate landscape over the years

S. SudarshanUpdated: Thursday, March 21, 2024, 08:21 PM IST
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When a city’s development is set to burst at its seams, it moves outwards towards the peripheral suburbs and then, further beyond towards the exurbs. Kalva (which is often spelt as Kalwa by many), was once a predominantly rural area with agricultural land and sparse population. Situated close to Thane, it has experienced notable evolution in its infrastructure and real estate landscape over the years. The proximity to industrial areas has led to the establishment of small-scale industries and businesses in Kalva, plus some commercial development as well.

With the expansion of Mumbai's urban sprawl, Kalva gradually began to witness residential development, primarily in the form of low-rise buildings and stand-alone houses. The comparatively lower property prices, coupled with the availability of land for development, made Kalva an attractive choice for middle-class homebuyers.

Aaryan Rana is one of them; having moved into a 2BHK, 720 square feet flat in a standalone building at Kalva in May 2006 on the auspicious day of Akshaya Tritiya, where he currently resides with his wife Asha, daughters Manay and Mansvi and son Rudra. “It was a big dream of mine to own a house. Zeroing in on Kalva was like shifting four stations ahead from Bhandup, where I was living with my relatives. Location, affordability and home loan availability were important factors in my decision making.”

Recounting his choice, he added, “After visiting various properties with ready to move in and under construction options in Navi Mumbai, Kalyan, Dombivli and Thane, I decided to go in for a ready to move in flat. This property had the plus point of being at a walkable distance to the railway station and was well connected by roads, the market situated close by, and so on.”

The improvement of civic amenities such as schools, hospitals, parks, and recreational facilities has contributed to the overall liveability of Kalva. These amenities have helped enhance the quality of life for residents and make the area more appealing for families and individuals looking to settle down.

Aaryan has been a witness to the trend of developers catering to the demand for modern amenities and community living experiences by offering residents a range of facilities such as swimming pools, gyms, and landscaped gardens. Kalva has emerged as a favoured destination for those seeking affordable housing options in the MMR, he points out.

In recent times there has also been a trend of mixed-use developments in Kalva, with residential, commercial, and recreational spaces within the same complex. This not only maximises land use but also creates vibrant, self-sustaining communities where residents can live, work, and socialise.

With ongoing infrastructure projects, planned developments, and the increasing demand for affordable housing, Kalva's real estate market is expected to continue evolving in the coming years. The area holds potential for further growth and investment opportunities, making it an area to watch in the MMR real estate landscape.

(The writer is a Trend Science, Communication & Marketing Consultant)

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