Kalyan, considered by many as the gateway to Mumbai from the north and south India, is a part of the Thane District and along with Dombivli forms the Kalyan Dombivili Municipal Corporation (KDMC).
So why should you look at Kalyan for real estate investment? What factors should guide your decision?
Good water supply, power and sanitation are some of the important features of a good residential locality. The Ulhas River and its many tributaries are the source of water supply to Kalyan and its twin city Dombivli. It also has high water storage tanks and eco-friendly waste water cleaning and treatment plants to provide clean drinking water to its residents. Yet there are times when cut in supply is enforced by the KDMC.
Connectivity & Transport
Railway is the major means of transport in Kalyan. The Central Railway offers connectivity right up to CST (formerly Bombay VT) with regular local train services. Most long distance trains form North and South India pass through Kalyan, which is an important junction
Kalyan Dombivli Municipal Transport (KDMT) operates busses serving the twin cities of Kalyan and Dombivli and the surrounding villages. It also serves areas like Panvel and Vashi, in Navi Mumbai. Besides, auto-rickshaws abound here for local travel.
The Mumbai Metropolitan Region Development Authority (MMRDA) has plans for a multi-modal bus rapid transport system (BRTS) and mass rapid transport system (MRTS) that will cover Kalyan also. Besides, the four-lane expressway, when completed, will provide faster transport to places like Panvel, Alibaug, Virar, Vasai and Bhiwandi.
The Mumbai international airport is at a distance of 50 km while the upcoming Navi Mumbai International Airport will be 38 km away.
Hospitals & Health Care
Some of the well known hospitals providing health care 24/7 are Khadakpada Multispecialty Hospital, Holy Cross Hospital, Fortis Hospital, Kalyan Metro Multispecialty Hospital, Dr Mhaskar Hospital and Spectrum Hospital
There are many schools offering different syllabi in Kalyan. The General Education Institute’s school is one of the oldest having been established in 1890. There are over 30 recognised schools like St. Mary’s High, Guru Nanak English High, Ganesh Vidya Mandir, Holy Cross Convent High, Arya Gurukul, Don Bosco, Saraswati Mandir, etc.
Some of colleges affiliated to Mumbai University are K M Agarwal College of Arts & Science, Birla College of Arts & Science, Model College of Science & Commerce, Ideal Jr. College, etc.
Shopping & Entertainment
One of the biggest malls here is the Metro Junction Mall housed in 750,000 sq. ft of space and features most retail brands in the country. This is a one-stop for entertainment and dining with multiplexes and eateries that offer a multi-cuisine dining experience. Sarvoday Mall is another popular mall which also houses a multiplex.
The industrial belts in the twin cities of Kalyan and Dombivli up to Badlapur, with several small and large industries, provide good employment opportunities for people living in the area. There is a big industrial complex near Dombivli set up the Maharashtra Industrial Development Corporation (MIDC).
Ongoing real estate projects
The real estate drivers in Kalyan are mainly end-users with some investors also in the play. There are many ongoing housing projects in Kalyan East and West. The East is slightly more expensive than the West. The price in Kalyan East ranges from Rs. 3,300 upwards while in the West it ranges from Rs 2,600 upwards. The buyer has options to choose from 1RK and 1BHK to 2 and 3 BHK. 1BHK and 2BHK are more predominant.
Kalyan is one of the many growth centres planned by the Maharashtra government, to boost employment opportunities in the Mumbai Metropolitan Region. These will be developed as a business hub and will have a well-developed transport system, smart city facilities and necessary infrastructure for housing to attract investors.
The real estate market here, though not yet as vibrant as Navi Mumbai, is still growing and with the future developments that are planned, especially with Kalyan being nominated for the Smart City project, it is bound to take an upward leap. With the MMRDA planning to construct some major highways in the Kalyan area, the proposal to extend Navi Mumbai Metro to Kalyan and the almost unaffordable price in Mumbai suburbs, real estate growth in Kalyan is set for some good times.
Despite many negatives like narrow and congested roads, Kalyan has good future prospects and therefore is worth looking at it for real estate investment; but as always it would be prudent to do a proper research and investigation looking at all the pros and cons before putting the money in.
Stanley Varghese for IndiaProperty.com
Image: By Superfast1111 – अपना काम, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=22511040