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What Makes Bhiwandi in Thane A Booming Real Estate Investment Destination
A prominent industrial destination, Bhiwandi homes the largest number of powerlooms in India, leading to it being designated as the Manchester of India.
Being among the largest employment hub, Bhiwandi is witnessing a rise in the number of housing demands because of its close proximity to industries as it is comparatively low in residential prices than other areas close to it.
Bhiwandi has national highways- NH 3, NH 222, the Mumbai Nashik Expressway, Bhiwandi Murbad Road, Bhiwandi Wada Road along with state highways- SH 76, SH 35, that offer the best connectivity benefits for any realty destination. Due to the reasons of it being one among the hubs of employment, most of the employees tend to find places to reside that’s close to their workplace making it convenient for them to travel.
Upcoming projects like the metro route connecting Mumbai with Thane is aiming to provide better connectivity boosting the development of Bhiwandi, thereby enhancing the residential housing segment. Despite skyrocketing real estate prices, Bhiwandi favoured the buyers base and emerged as the most preferred places in the city.
JLL India Residential Research Head, Ashutosh Limaye said, “Bhiwandi is already a logistics hub as of now, but with the MMRDA plan, the logistics sector will be more organised. Also, it is a fact that with the development of infrastructure and connectivity, real estate gets a push. However, in this particular area, there is a possibility that Kalyan and its nearby areas could see an increase in demand for housing. People will prefer to work in Bhiwandi and stay in Kalyan and nearby areas.”
According to a senior MSRDC official, “The aim is to ease the traffic congestion on the Kalyan to Bhiwandi road. The Bhiwandi-Kalyan Shilphata Highway will ease traffic along the roads, making it easier for the commuters to arrive at their destined locations faster. Along with it, the highway project will be widening the existing four-lane road to a six-lane road with a fly-over at Lodha Junction”. In addition to this, the MSRDC further said to the Times of India, “the distance is roughly equivalent from its office in Bandra Reclamation to Goregaon linking two ends of Mumbai Metropolitan Region (MMR) in Thane”.
Along with the development that is taking shape at Bhiwandi, the greener surrounding that Bhiwandi homes is something to be spoken about. Lakes like Khoni, the river Kamvari, lake Varala, lake Diwanshah, lake Shelar, lake Kalher and lake Purna are among the many water bodies Bhiwandi houses.
All of these aspects of Bhiwandi will not only stimulate more development in the region but will also attract commercialisation on a very large scale. Consequently, this would help to establish Bhiwandi as a realty hotspot making it the most prefered real estate investment destination.
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