Bhavik Bhandari, CSMO, Ashwin Sheth Group
Mumbai’s real estate landscape is a dynamic and ever-evolving one, with its Western suburbs emerging as a prime hub for homebuyers in recent years. These suburbs have transformed into vibrant residential hubs, offering an attractive blend of modern amenities, connectivity, and lifestyle opportunities. Nestled within this burgeoning landscape, Kandivali has not only kept pace with the transformation but has often led the way. In March 2023, the Western suburbs dominated sales registrations, capturing an astounding 62% of the market share. This surge in registrations not only reflects the increasing demand for residential properties in the western corridor but also highlights Kandivali as one of the preferred destinations for new homebuyers in the Mumbai Metropolitan Region.
Furthermore, one of the key reasons for Kandivali’s popularity among homebuyers is its status as an end-user market. Unlike some areas that are primarily investment-driven, Kandivali offers a lifestyle that appeals to those seeking spacious long-term residences. Talking of spacious residences, recent years have witnessed notable trends. The preferences of homebuyers have evolved, with a growing emphasis on spaciousness and comfort.
According to a recent survey carried out by CII Real Estate Confluence 2023, 42% of the respondents preferred 3BHK apartments, while 40% favoured 2BHK options, reflecting the evolving needs and lifestyle aspirations of modern homebuyers. In line with this, Kandivali’s real estate market has adapted to these changing preferences by offering well-designed, spacious properties that provide ample room for families to live comfortably.
Let’s look at a few notable factors that make Kandivali a preferred residential destination for the homebuyers:
Strategic Location: Nestled between the bustling business hubs in the southern and northern parts of Mumbai, Kandivali is strategically located in the serene Sanjay Gandhi National Park to the north and offers a unique blend of accessibility and tranquillity. Its proximity to the Western Express Highway, Link Road, SV Road, GMLR, JVLR, International airport, Domestic airport, Metro, and the Western Railway Line ensures efficient connectivity to other parts of the city, making it an ideal choice for commuters and professionals. Further, a proposed ropeway project in the area will connect Mahavir Nagar in the Kandivali West locality to Essel World, Gorai and many other such places.
Moreover, the ongoing construction of the Coastal Road in the locality will ensure seamless connectivity between Kandivali and the Marine Lines will take half your time to commute. This strategic positioning not only reduces travel time but also allows residents to enjoy the best of both worlds making Kandivali an attractive destination for a diverse range of homebuyers.
Infrastructure Growth: The growth of infrastructure in Kandivali has been nothing short of remarkable, transforming this once-sleepy suburban enclave into a thriving urban center. The railway infrastructure of the area has seen upgrades, with Kandivali Railway Station being a pivotal transportation hub in the Western suburbs. Moreover, the development of leading schools, colleges, healthcare facilities, and shopping complexes has not only elevated the quality of life for residents but also attracted new businesses, investors and Grade-A developers to the area.
High-Rise Buildings and Opulent Amenities: Over recent years, Kandivali has undergone a vertical transformation, with towering skyscrapers dominating its skyline. This shift is propelled by the escalating population density of Mumbai as high-rise constructions efficiently utilize limited urban spaces. Thereby, making them an appealing choice for both developers and residents alike.
These soaring towers not only provide panoramic views of Mumbai’s urban landscape but also offer a plethora of upscale amenities that cater specifically to luxury residents. From infinity pools, landscaped gardens, and state-of-the-art fitness centers to concierge services that ensure residents’ every need is met, these high-rises redefine luxury living in Kandivali. Other amenities may include spa facilities, Amphitheatre, and exclusive lounges, creating a truly lavish and convenient lifestyle that befits the discerning tastes of luxury homebuyers.
Potential for Appreciation: For those looking to invest in Mumbai, Kandivali presents itself as one of the most appealing micro-markets for residential real estate investments. Its ongoing transformation and growth make it an excellent location to invest and reside in. In recent times, there has been a noticeable surge in land values within Kandivali’s eastern district. Over the past three years, the typical cost of a residence in Kandivali East has risen by approximately 15%, with the last year alone witnessing an increase of over 6%. Additionally, over the preceding five years, property prices in Kandivali West have surged by more than 15% and rental demands are high in Kandivali.