Dombivli, from outskirts to a buzzing real estate market
Earlier a small locality, Dombivli has today emerged as one of the most promising destinations in the Mumbai real estate market. The location is witnessing the development of new residential projects at a very rapid pace. Dombivli's real estate has recently witnessed a boom, primarily due to the increasing prices in Mumbai suburbs and growing demand for affordable housing in Mumbai. While most other areas of Mumbai offer properties at skyrocketing prices, Dombivli offers properties at pocket-friendly prices, thus making it a popular suburb. The residential real estate here is driven by end-users as well as investors as the region has a good mixture of under-construction and ready-to-move-in projects. Commenting from the demand perspective, Mr. Subodh Runwal - Director, Runwal Group says, "Dombivli is the fastest growing micromarket in the Mumbai MMR region, the locality has witnessed considerable growth in residential real estate. Due to the upcoming infrastructure and connectivity with Mumbai, Thane & Navi Mumbai; Dombivli is fast becoming the preferred choice of first time home buyers." Several major neighbourhoods of Mumbai can be easily accessed from this area via the Kalyan-Shilphata Road, Agra Road and National Highway 4. Dombivli is also the busiest railway station on the central line in the Mumbai suburban railway network. CIDCO has planned to extend the Navi Mumbai metro rail to Kalyan which has fuelled the growth for housing in this region. The upcoming Navi Mumbai International Airport will also be at a distance of less than 35 kms. Dombivli is a small and cultural town with a number of eminent literarians, musicians, actors, authors and dramatists residing in the city. The locality boasts of numerous good parks, schools, medical facilities, markets, etc. making it a vibrant residential location. The region has seen a rise in population in recent years which reflects its increasing demand in the last few years. Dombivli is known to be a popular industrial hub. Several small and large industries are concentrated in this region. The Maharashtra Industrial Development Corporation (MIDC) has developed a big industrial complex around Dombivli. Thus, it offers numerous employment opportunities. This well-connected suburb has witnessed considerable industrial and infrastructural growth in the past two to three decades, which has resulted in rising demand for properties. With various infrastructure projects in the pipeline, the realty market here is showing positive trends and it is expected that one can easily witness a price appreciation of about 20-25 percent over the next few years. However, affordable property prices, good connectivity to other key areas in the MMR and the various market trends go on to indicate that the region has good growth potential in the near future.
Tags : News/Views