by Priya Jadhav
Kandivali, located along the western suburban railway line of Mumbai, has emerged as one among the best micro-markets for residential real estate investment. Offering excellent connectivity, wide-ranging civic amenities, and employment opportunities in the vicinity; the real estate market in Kandivali is much sought-after and has witnessed steady appreciation. The recent years have witnessed the locality burgeoning into an infrastructurally sound residential hub. Besides, its proximity to other developed localities such as Malad, Goregaon, Andheri, and Borivali; it has also helped spur realty demand in the region. Kandivali has received healthy traction from homebuyers and tenants on account of the wide range of housing options available.
Commenting on the advantage Kandivali, Mr. Bhasker Jain, Head Sales, Marketing & CRM, The Wadhwa Group says, "The area has witnessed rapid development in the last two decades both in terms of residential growth and population. This is fairly evident both on the Eastern and the Western side of this suburb, with several large residential pockets coming up in recent years. The Kandivali suburb has drastically evolved with the help of infrastructure reforms and demand driven by the homebuyers. The upcoming Metro lines and the easy access to the Western Express Highway will be going to be a game-changer for this location in terms of driving demand. Also, its proximity to commercial centres and the upsurge in new projects with modern lifestyles & amenities continues to generate interest amongst the prospective residential buyers."
Kandivali is well-connected to the rest of the city via the Western Express Highway, S V Road, and the Link Road. The Metro lines on both east and west will further enhance the connectivity of the area. The airport is a 30-minute drive, while the Borivali railway station is also in close proximity. The location also offers excellent bus services to all parts of the city.
Besides robust physical infrastructure, Kandivali also offers an array of social amenities to its residents. The locality is replete with a number of leading schools and hospitals such as Ryan International School, Gundecha Education Academy, Bal Bharti High School, Kokilaben Dhirubhai Ambani Hospital and Apex Hospital. Raghuleela Mall, Inorbit Mall, Hypercity, Infiniti Mall and Oberoi Mall are some of the popular destinations that cater to the shopping and recreational needs of Kandivali residents.
Commenting on the demand perspective, Mr. Jayesh Rathod, Director, The Guardians Real Estate Advisory says, ‘’Kandivali offers the best of social infrastructure, good connectivity and the finest of infrastructure. While several parts of the city are seeing stagnating prices, Kandivali has seen a 6.45% price increment from 2018 to 2019. The price range for apartments across Kandivali is in the range of Rs.18,500 - 25,500 per sq. ft. It is witnessing a good response to the developments launched over the past few years, which is why Kandivali East is amongst the top 15 micro-markets in the city that have sold the highest of all the newly launched apartments.”
Compared with the other areas in suburban Mumbai, homes in Kandivali is consistently in demand, and offer excellent returns. It is gradually turning into a place where outstanding high-end projects are offering amazing choices for home seekers.