The Mumbai Metropolitan Area has a sizable cheap housing sector. Palghar is well-known for its affordable options, connection, and social infrastructure. Yet, as land prices in Palghar’s central neighbourhoods rise, investors are moving their emphasis to more inexpensive places in search of larger profits. As per reports has identified five growing housing hotspots in Palghar!
Purchasing a property in the Mumbai Metropolitan Area (MMR) on a budget may sound like a pipe dream to many. But, as property costs in Mumbai have risen and land pieces have become scarce, a slew of new places have sprung up as low-cost alternatives. Palghar is one such area that is near to Mumbai and provides inexpensive accommodation. It was designated as a district in 2014 and was then incorporated into the Mumbai Metropolitan Area (MMR). Palghar city, the district headquarters and the region’s largest metropolis, has piqued the interest of the most investors. However, as the city’s costs rose, numerous other neighbourhoods, like Manor, Boisar, and Dahanu in Palghar, rose to prominence as a result of developing infrastructure, industrial growth, and historical tradition.
Aside from allowing customers to create residences that suit their demands, comfort level, and financial constraints, purchasing land parcels or plots in Palghar also gives them the freedom to go beyond predetermined floor plans. Such adaptability is beneficial because purchasers in Mumbai’s main metropolitan regions have few options for customising a property. These places are also popular with tourists due to their pleasant climate, lush surroundings, and low pollution levels. If you want to buy property or an apartment in Palghar on a budget, here are the top five housing hotspots!
Popular Investment Hubs Near Palghar
Manor is situated around 90 km from Mumbai and 20 km from Palghar city. It is located along the Mumbai-Ahmedabad National Highway and close to the industrial town of Boisar. Nashik, the third largest city in Maharashtra, is also well connected through National Highway 160A.
It is also a preferred second home destination for those looking to escape the pollution and congestion in big cities. Surrounded by lush green landscapes, Manor is located along the banks of the Vaitarna River and is famous for tourism. The popular water conservation project, Manor Dam is also situated here. Further, Vandri Lake, Devkop Lake and Kelva Beach are some additional recreational spots. Kelva Beach is just 30 minutes’ drive for those looking to spend some quality beach time.
Leisure options coupled with the availability of large land parcels in Manor has attracted many property investors. Further, as land is now in less supply in MMR, Manor has ample developable plots and independent houses at affordable rates. Low ticket size, developing infrastructure, and the presence of reputed developers, like Godrej Properties, NMT Realty and Riddhi Siddhi Developers, are some factors driving investor sentiment to Manor.
Manor is also expected to benefit from a slew of upcoming infrastructure projects. It is located close to the planned Bullet Train station at Boisar, at about 20 km. In addition, the under-construction Mumbai-Vadodara Expressway and Mumbai-Kandivali Road are also expected to improve access to Manor.
Boisar, which is home to the Tarapur Atomic Power Plant, is the next area on the list that has seen an increase in housing demand. It is the headquarters of Maharashtra’s largest Industrial Development Corporation (MIDC), which has increased residential demand. In this industrial zone, over 1,500 industrial units are already active. Boisar is also strategically placed between Mumbai’s financial district and South Gujarat’s industrial zones. It’s featured on the Delhi-Mumbai Industrial Corridor map (DMIC). Also, as more trains are scheduled for Dahanu, which is located near Boisar, the extension of the suburban rail network is projected to improve connectivity in Boisar. According to insider sources, 1 BHK, 2 BHK, and 3 BHK flats are available in Boisar, with prices average approximately Rs 3,500 per sq ft.
Dahanu is a beach town. This location makes for a beautiful holiday destination thanks to the Arabian Sea on one side and the Sahyadri Range Mountains on the other.
Local trains on the Mumbai Suburban Rail network from Church Gate to Dahanu on the Western Line have enhanced public transportation access to this area. This is also a thermal power plant that feeds electricity to Mumbai. Dahanu is well-known for its horticulture and fruit production. It is one of the country’s largest producers of Chikoo fruit. The presence of fruit trees in the vicinity of Dahanu provides inhabitants with a green respite from the busy corridors of Mumbai and Thane. Also, a new shipping terminal is being developed in the Dahanu port, which may stimulate real estate in the future. Dahanu home prices are approximately Rs 5,000 per sq ft, with maximum apartments designed as 1 BHK and 2 BHK.
Naigaon is situated along the Western Express Highway, a significant thoroughfare that connects several sections of Mumbai. The most popular housing alternatives in this neighbourhood are 1 BHK configurations priced under Rs 50 lakh. It is connected to Navghar village by the Versova Bridge and is located close National Route 48. Because it is located between Mira Bhayander and Vasai, it is very desirable for investment. Naigaon’s social infrastructure is fairly developed, including a number of educational institutions and colleges. The Naigaon Railway Station, which has frequent trains on the Mumbai Suburban Rail Network, is part of the public transportation system.
Wada, also known as Vada, is a Taluka in the Palghar district. The existence of new industries in this region has influenced the demand for residential real estate. It has direct access to industrial centres in Bhiwandi and Thane. The anticipated infrastructure and industrial development, such as the Priyadarshini Cooperative limited industrial community, would provide excellent financial returns. This city is accessible through State Roads 76 and 35. The nearest railway station is Atgaon Railway Station. The Vikramgad-Wada Road, Manor Road, Agari Ali Road, and Siddheswar Road connect it to the rest of Palghar.
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