Top Kandivali Real Estate Investment Catalysts!
Kandivali is a mid-segment residential community ideally positioned along Mumbai’s suburban train network’s Western Line. With plenty of open space and vegetation, this neighbourhood is well connected to the rest of Mumbai by an excellent road and train network. The township was semi-rural in the early 1980s, with agricultural land and villages, but it has since evolved into a cosmopolitan hub due to the area’s ever-growing population and work prospects. Let’s analyse how the region has grown over time and whether investing in Kandivali is a good idea.
Geopolitics and history of the area
Kandivali has been one of the top emerging communities in Mumbai’s Western suburbs in recent years. Kandivali East and Kandivali West are the two zones that make up the region. Whereas Kandivali East has housing prices at Rs 19,300 per sq ft, Kandivali West has rates around Rs 18,000 per sq ft (Source: insider report). Thakur Complex, Samata Nagar, Thakur Village, Asha Nagar, Hanuman Nagar, and Lokhandwala Complex are all nearby micromarkets. Before, the sole landmark in Kandivali was the Auto and Tractors Division of Mahindra & Mahindra Ltd. Nonetheless, with tremendous expansion over the years, several industrial units and upscale residential complexes may be seen. Raheja Developers, House of Hiranandani, and Ruparel Realty are among the reputable builders with housing societies in this area.
“The Western Highway, SV Road, Link Road, and the Western Railway Line have made commuting simple for those residing in Kandivali, linking South Mumbai to the suburban north of the city,” says Samyak Jain, Director, Siddha Group. A few key existing and forthcoming infrastructure projects, like as the Goregaon-Mulund Link Road and Coastal Road, as well as metro lines, will strengthen north-south and east-west connectivity even more. Property values will soar once these developments are completed. Kandivali is now served by two metro lines: Mumbai Metro Line 2A, which connects Dahisar to DN Nagar, and Metro Line 7, which connects Dahisar East to Andheri East.
Trend in residential prices
Kandivali’s eastern zone has seen an increase in land values in recent years. The average house price in the neighbourhood has increased by more than 10% in the previous five years and by 6% in the last year. This zone is brimming with mid-segment housing complexes, with 2 BHK flats being the most common configuration. Smaller 1 BHK alternatives are also accessible; nevertheless, the inventory is concentrated in the western region, accounting for around 40% of the overall supply.
Rentals in the region vary depending on the property’s location and closeness to nearby amenities. The cost of renting a single room is between Rs 18,000 and Rs 20,000 per month, while the cost of renting a 2 or 3 BHK is between Rs 30,000 and Rs 40,000. The overwhelming of the residential demand in the area is produced by industrial developments. Charkop Industrial Estate, Akurli Industrial Estate, Gundecha Industrial Estate, Jai Bonanza Industrial Estate, and Balaji Industrial Estate are a few examples.
Kandivali’s investment potential
Coupled with a 6-7 percent YoY increase in property prices, the neighbourhood offers a 5-7 percent yearly rental return. Furthermore, purchasers value convenience because it is a well-connected location in the midst of a plethora of facilities. As per insider Ratings & Reviews portal, residents rated the neighbourhood 4.4 out of five. Connectivity and lifestyle remain the region’s primary beneficiaries, with owners and tenants boasting of “excellent public transportation,” “well-maintained roads,” “markets within walking distance,” and “few power outages” in Kandivali.
‘Monsoon waterlogging’ and ‘parking difficulties’ require care here. However, as multiple road reconstruction projects are ongoing, planned infrastructure enhancements are anticipated to alleviate this popular neighborhood’s problems.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.