By Samyak Jain, Director, Siddha Group
At the beginning of this year, MMRDA announced its plans for Wadala that has attracted real estate entrepreneurs to this bustling neighbourhood. This strategically located micro market between South Mumbai and the suburbs, the prospect of greater connectivity and employment seems more promising than ever.
In the last decade, Wadala has witnessed rising real estate rates owing to better infrastructure, road connectivity, railways routes and Monorail. In the face of Wadala’s imminent rise, many homebuyers from MMR have been attracted to this new destination. So why are today’s homebuyers and developers attracted to Wadala?
1) Government plans
Fancy a walk to work? The government’s recent plans to make Wadala the third central business district of the city after Nariman Point and Bandra – Kurla Complex (BKC) involves a great deal of commercial and residential development and an increase in employment possibilities. So rather than get stuck in a 2-hour work commute, Wadala residents can rejoice in workplaces close to home. With commercial offices coming up MMRDA’s ambitious plan involves the creation of jobs in the next three decades. This plan will also boost the retail and hospitality sectors along with the formation of public open spaces.
2) New infrastructure
After Bandra Kurla Complex, Wadala is all set to get revamped into a business district with a multi-modal transport system. Travelling to North and South Mumbai will get easier; the fourth metro line planned via Wadala will offer citizens easy connectivity to both ways. Moreover, under the MMRDA plan, an inter-state bus terminal (ISBT) will be created which will likely reduce the number of illegally parked buses on the street. In addition, the plan has proposed initiatives to make the area pedestrian-friendly and introduce smart- parking along with well-laid utility lines.
3) Great connectivity and accessibility to commercial hubs
Being conveniently located between South Mumbai and the suburbs, Wadala already benefits from its connectivity with employment hubs across Mumbai. Being an important station on the harbour line, Wadala is a part of Mumbai’s heartbeat and connects to Andheri, Goregaon, Dahanu Road through the western line.
Additionally, infrastructure projects like the Chembur – Wadala Monorail and the Eastern Freeway, alongside the Kurla – Santacruz Flyover and Anik – Panjarpol Link Road have prompted an expansion in the residential and commercial segment. Mumbai’s largest bus depot is also located here and is known for having a very good frequency of buses.
4) Well known educational institutions
Wadala is home to famous educational institutions which makes it a great place for families to reside. These include the Veermata Jijabai Technological Institute (VJTI), which is one of the oldest Engineering colleges in Asia; the Auxilium Convent High School; Vidyalankar Institute of Technology (VIT); Khalsa College ; The University Institute of Chemical Technology and South India Welfare Society (S.I.W.S), all of which are situated close to each other. Known junior college campuses like Dr. Ambedkar Commerce and Law College, SNDT Women University, Shri Bansidhar Aggarwal Model School and Junior College are also situated here.
5) Attractive landmarks
Wadala has a plethora of places to eat out, and be entertained at. The world’s former largest IMAX dome theatre resides here, along with a number of restaurants and pubs. It is also famous for its temples that date back centuries, churches and dargahs. One of the ancient temples in Wadala is the Ram Mandir that was built in the 15 th Century that is prominent for its Ganesh Utsav and Ram Navami celebrations. Additionally, Wadala is home at the Flamingo bay, approximately 2 km from Wadala station which attracts a humungous number of
Flamingos every year their breeding area, Gujarat.mWadala has experienced a huge change in the course of ten years, from being an industrial zone to a forthcoming residential market. Its rapid development in terms of infrastructure, both civic and social, and enhanced connectivity has placed Wadala on a list of upcoming Mumbai localities to watch. The micro market has opened up new avenues for development and homebuyers looking for a holistic development at attractive price points will not be disappointed with the area. Wadala is poised to be the next futuristic smart city.