Ambernath: From an industrial suburb to the MMR’s affordable housing hotspot

[ecis2016.org] Ambernath, in Thane district of the Mumbai Metropolitan Region, is slowly transforming from an industrial suburb to a sought-after destination for affordable housing. We examine the factors driving this change and what the region has to offer

Ambernath, a well-developed industrial micro-market of Thane district, is famous for its wealth of medium to large-scale industries. The locality is bisected into east and west sections by the Central Railway line that starts from Chhatrapati Shivaji Maharaj Terminus (CSMT) and passes via Thane, Kalyan and ends at Khopoli.

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Ambernath’s growth took off, when the government established a large ordinance factory and a Machine Prototype Factory (MPF) in the region. These industries prompted residential real estate developments and also encouraged other medium and large-scale industries, to establish their manufacturing base in the city.

With the rapid industrialisation of the Ambernath-Badlapur MIDC area and the excellent Central Railway line connectivity between Thane, Kalyan and Ulhasnagar, the professionals working in these micro-markets see Ambernath as an affordable option, to meet their housing needs. Thus, Ambernath is transforming into one of the major affordable housing destinations of the Mumbai Metropolitan Region (MMR).

Connectivity to Ambernath

• Road: Ambernath has an excellent connectivity to Kalyan, via Maharashtra State Highway (SH) 80 and Thane, via National Highway (NH) 160. It is connected to Pune via the Bengaluru-Mumbai Highway, which is less than a three-hour drive.
• Rail: Ambernath has a station on the Central Railway line.
• Air: Chhatrapati Shivaji International Airport is a 1.5-hour drive from Ambernath (50 kms away). The proposed Navi Mumbai Airport will be a one-hour drive from Ambernath, via the Badlapur-Katai Road and NH-48.

• Since 2013, around 17,300 new residential units have been added in this micro-market. Of this, more than half of the launches (around 57 per cent) were added during 2015-17 and an additional 33 per cent came in 2013-14.

• Huge employment opportunities, wide industrial presence and availability of land, have triggered residential real estate growth after 2013.

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Despite the slowdown in the MMR’s residential real estate segment since 2014, Ambernath’s real estate performed well, in terms of supply and capital value appreciation.

In 2017, new launches dropped by 55 per cent, as compared to 2016. This was primarily due to the ambiguity following the implementation of the Real Estate (Regulation and Development) Act (RERA) and the overall burden of existing unsold inventory in the market (around 8,600 units, as of Q1 2018).

• Nearly 34 per cent (around 6,000 units) of the total supply, since 2013, is in the ready-to-move-in stage and nearly 15 per cent of the units (around 2,600) will enter the market in less than 12 months. This gives a wide range of options for the home buyer.
• Around 40 per cent units (around 7,000) of the total supply, is likely to enter the market within 12-36 months.

• Ambernath is a definitive affordable housing destination in the MMR, with close to 95 per cent of the total supply falling within the Rs 40-lakh price bracket.

Check out properties for sale in Ambernath

Social infrastructure in Ambernath

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Ambernath has good social infrastructure facilities in the form of healthcare, educational institutions and retail outlets, for day-to-day requirements. Data indicates a healthy supply of new units entering Ambernath in the coming years, which will give more options to home buyers. Also, it will tighten the competition for developers who wish to enter this micro-market.

Price appreciation in Ambernath

Property prices in Ambernath have seen decent appreciation since 2015 and the trend has been more or less consistent, over this period. This micro-market has witnessed a price rise of nearly five per cent CAGR, during the period 2015-18 (Q1). Data suggests that Ambernath’s realty market is experiencing an upward trajectory, with capital values seeing price appreciation after Q2 2015.

In addition to its other market drivers, ITC now plans to set up a world-class food processing plant here. This means that Ambernath will see considerably increased real estate activity, even as its easy accessibility to Mumbai, Thane and Kalyan-Dombivli, continue to be distinct advantages.

The MMRDA’s infrastructure plans for Kalyan-Ambernath, are also likely to boost housing demand in the near future. Consequently, industrial workers from Ulhasnagar, Ambernath, Badlapur and Anand Nagar MMIDC, view this buzzing affordable residential hotspot of MMR, as a preferable housing destination.

(The writer is head – research, ANAROCK Property Consultants)

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