By Accommodation Times Bureau
Kanjurmarg – A location in the Mumbai suburbs which holds the three aces of accessibility, affordability and appreciation potential consolidated with good social infrastructure and workplace hub integration, it can rightly lay claim the most coveted property investment hotspot tag.
Today, it is a vibrant, pulsating suburb that boasts of well-developed infrastructure, remarkable connectivity and residential projects that add a new dimension to luxury living. The icing on the cake are the tranquil surroundings, the lush green ambience and the serene locales which are a major draw for home buyers looking to live in the city and yet be apart from the congestion and pollution.
The central suburbs grew rapidly as a significant amount of industrial land was converted for residential purposes. Initially, locations such as Ghatkopar, Powai, and Mulund developed as major residential areas in the central suburbs. With the saturation of these regions, Bhandup and Kanjurmarg are now transforming from pure industrial locations to mixed-use destinations featuring commercial and premium residential developments.
The development of the Eastern Express Highway, along with JVLR and the Eastern Freeway, has significantly improved the connectivity to other parts of the city and aided the rapid transformation of the Central suburbs. Newly-developed locations along the Central suburbs such as Kanjurmarg have an edge over other locations due to the presence of high-end residential complexes loaded with state-of-art modern amenities and facilities. Reputed real estate developers have already established their footprint in Kanjurmarg owing to its future growth potential.
Kanjurmarg has excellent connectivity with the business districts of Thane, Powai, and BKC as well as South Mumbai via LBS road, JVLR, Eastern Express highway, SCLR, and the Eastern freeway. It is strategic positioning on the central line provides easy access to both the Harbour and Western lines of the city’s local rail network. Corporate campuses such as Eastern Business District, Akruti Corporate Park, L&T, Accenture, Godrej, Supreme Business Park, and Lodha iThink Techno are some of the most notable business complexes providing impetus to this growing business district.
Himanshu Kanakia, managing director, Kanakia Spaces said, “Over the time, conversion of industrial land in Kanjurmarg has helped in unlocking a treasure trove of land parcels for residential developments. Kanjurmarg is a rapidly growing residential hub of gated communities, mainly for corporate youths and business class due to its strategic location, quick access to Mumbai’s business districts and improved infrastructure across the Eastern Express Highway and the Eastern Free Way.”
Abundant social infrastructure is another factor that has helped Kanjurmarg & evolution as a residential hotspot in the city. Proximity to D-Mart, Huma Mall, R-City Mall and the high streets of Powai provide massive shopping and entertainment options for residents. Simultaneously, several renowned educational institutions such as IIT Bombay, Podar International School, Hiranandani Foundation School, Bombay Scottish, St. Xavier’s and Kendriya Vidyalaya address the local education needs. In addition, Hiranandani Hospital in close vicinity provides the assurance of quality healthcare.
“With excellent connectivity, access to upmarket lifestyle spots, quality housing such as what we are developing an extremely attractive real estate prices, Kanjurmarg is the poised for an exponential rise similar to Powai. It is an extremely attractive option for luxury home buyers”, says Subodh Runwal, Director of Runwal Group.
In a cost-intensive real estate market like Mumbai, questions of affordability without compromised social comforts and commuting convenience inevitably crop up in every home buyers mind. Kanjurmarg has ready answers to these questions. The average property prices here are lower when compared to the nearby established locations of Powai, Mulund, and Ghatkopar, and this has been a key determinant for its success and popularity among homebuyers. The attractive property rates in Kanjurmarg not only make purchasing a property a real possibility for a larger number of buyers but also indicate significant scope for appreciation.
Considering the overall real estate trends in Mumbai and factoring in affordability, infrastructure, and connectivity, Kanjurmarg offers good returns on investment. Large residential towers, office complexes, 5-star hotels, and shopping destinations now dominate Kanjurmargs skyline. With its already excellent connectivity set for further enhancements with the completion of the metro rail lines connecting it to Andheri and Thane, Kanjurmarg can comfortably put many other contending real estate locations in the shade – now and in the future. An enviable location, impeccable connectivity, developing infrastructure, well- planned projects at affordable values and green environs – it’s no wonder that Kanjurmarg is becoming the preferred residential destination of upwardly mobile individuals and families.
Chintan Sheth – Director, Ashwin Sheth Group said, Back in the days, Kanjurmarg was home to large industrial units. Kanjurmarg railway station was often used as a transit point by many commuters traveling to business districts like Powai, Chandivali, Seepz, Vikhroli, etc. However, over the past few years, the area has transformed into a top-notch location for residential development. The area has witnessed significant growth due to the presence of some excellent social infrastructure, also its proximity to Powai is an added advantage. Kanjurmarg serves as the start point for Jogeshwari-Vikhroli Link Road which connects the eastern and western express highways boosting the connectivity of the area. This helps to provide easy access to the IT/ITeS Hubs of Powai, Seepz, Vikhroli, and Airoli.”