Lifestyle

Kalyan property market: Eight factors accelerating real estate demand

[ecis2016.org] Kalyan is emerging as a lucrative location to invest in real estate, because of its booming infrastructure development

Today, Kalyan has emerged as one of the most lucrative locations to invest in real estate, because of its booming infrastructure development. Its well-connected transportation and host of social facilities, have made it the perfect residential and business choice for the working class. The city also offers a wide range of high-tech houses to suit every budget of those seeking their dream home.

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Advantage Kalyan

After the Covid pandemic, as a result of the increased number of individuals working from home, people are looking for spacious houses in areas that provide them with the latest high-tech amenities to enhance quality of life. Kalyan is the best choice to invest in, since it has been established as a smart city that is comfortable to live in and enhances the lifestyle of people. Furthermore, the development of infrastructure like the Bhiwandi-Kalyan corridor, would undoubtedly offer Kalyan with enhanced connectivity in the future. Also, Metro Line-5, which will link Kalyan to Thane and 17 other locations, would result in a significant increase in the value of the real estate in the area.

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8 demand drivers fueling Kalyan property market

1. Metro Line 5

Metro Line 5 is a 24.9-km elevated line, connecting Thane-Bhiwandi-Kalyan, covering 17 stations. By linking the commercial, industrial and government sectors in Thane, Bhiwandi and Kalyan through rail, it is expected to reduce travel time for commuters significantly. As a consequence of this connectivity, people are migrating to Kalyan at a faster pace. According to research and experts, around 46 lakh people are expected to migrate to Kalyan by 2031.

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2. Kalyan Ring Road

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The MMRDA has proposed a 26-km ring road in Kalyan that would connect Dombivli west to the Titwala village. The project is quite ambitious since it would significantly reduce traffic congestion and travel distance. With the completion of the ring road, it would be feasible to travel from Kalyan to Titwala in just about 15 minutes. Also, the 12.3-km elevated road project from Airoli to Katai Naka is expected to cut down the travel distance between Kalyan-Dombivli and Mumbai by 10 kms. Besides, the flyover at Shiphata Junction, as well as an underpass from Mumbra to Panvel Road, will help to allow the free flow of traffic into Kalyan.

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3. Designated Smart City

Kalyan has been designated as a Smart City by the government. It is poised to showcase better development prospects in the next 10 years than any other locality in the Mumbai Metropolitan Region (MMR). The Smart City will consist of integrated systems and public amenities in a variety of areas such as power, water, sanitation and health care. The Smart City plan includes 20 projects, three of which have been executed to date: automated solid waste management, a 10-metric-ton bio-methanation plant in Umbarde and trash bins for segregation at the house level.

The control command room, traffic signals and CCTV project are complete and will be inaugurated shortly. The chamber is located in the KDMC offices in Kalyan, near Shivaji Chowk (W). It will aid with the monitoring of traffic lights, CCTVs and other initiatives associated with the Smart City objective.

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4. Kalyan station revamp plan

Kalyan is an important junction on the Central Railway line and serves as a terminal for outstation trains. The Kalyan station renovation plan will involve the building of six new platforms for long-distance trains and the current eight platforms will only be used for local services, which will result in faster movements of trains. The project will also involve the installation of route relay interlocking (RRI) at Kalyan station, which is critical for signaling system management.

5. University sub-campus and upcoming BITS Kalyan campus

The Mumbai University has launched a new sub-center in Kalyan, where students can apply for admission to the school of engineering and enroll in 100 courses offered by the Institute of Distance and Open Learning. Currently, they offer four new courses to its sub-center Kalyan, expanding educational opportunities for students.

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The upcoming Birla Institute of Technology and Science Pilani (BITS) will open a management school in Kalyan. The campus will include faculty from prestigious institutions like the Wharton and the Kellogg School of Management. These institutions in Kalyan will not only offer a good academic environment for students but will also improve the residential demand for the area.

6. Enhanced road connectivity with six economic hubs

Augmented growth of transportation and road connections between Kalyan and six economic hubs, namely Bhiwandi, Dombivli, Ambernath, Ulhasnagar, Badlapur, and Thane, have improved access for individuals to commute within these areas, while also assisting industrial sectors to transport their commodities in a faster and safer manner. As a result of this, property demand in Kalyan has skyrocketed since the development would link to several locations.

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7. Welspun One Logistic Park at Bhiwandi

In Bhiwandi, Welspun One Logistics Park (WOLP), India’s first MNC-based storage platform, has opened its doors. This warehouse provides a variety of services to its clients, including ready-to-move-in space and the possibility to establish long-term relationships via fast and transparent leasing processes. Owing to its proximity to Bhiwandi, a huge logistic hub, Kalyan has been recognised as a growth centre for forthcoming micro-markets by MMRDA.

8. Future perfect

Commuters from Kalyan, Bhiwandi, and Thane will soon have the choice of travelling by monorail or expressway in five years. Apart from the monorail, skywalks and expressway projects are also in progress, to improve connectivity in Kalyan city. Considering the robust infrastructure development, Kalyan could well be referred to as a developed area by 2028.

(The writer is head – marketing, Tycoons Group)

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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