Wadala- destination turning into development

By Accommodation Times News Service

Wadala has gone a major makeover sporting a brand new look

If we go to see the trend a normal buyer would never go out of its city limits mainly called ‘’suburbs’’ to seek a home. They had a very clear and cut choice of buying somewhere within the limits. But today with a boom in population and prices many developers with exception and one of the leading one in the markets have stretch themselves beyond the borders and have proved to be the benchmark development at present. One such very good example of this development is destination Wadala.

Sometime back a homebuyer use to think twice that why he should buy a home in Wadala, today the value of the flats being doubled it has become difficult for buy one. In fact, one is trying to book a second flat as well and take advantage of the value appreciation. Well this sudden approach towards the city has not been changed in one night; well spent years of infrastructure development have changed the mindset of the people. Previously this town was the last choice however the combination of lifestyle projects over the years; offices spaces have totally transformed Wadala.

Wadala also spelled as Vadala is considered as central suburb of the city Mumbai, but now it is well within the city limits. The area is bordered by Dadar on the west, Matunga on the Northwest and Sewri on the southwest. The western areas of wadala are covered by salt-pans which are on the shores of the Thane creek. Wadala was one of the seven islands that were joined together to form the modern island of Mumbai. The island used to be called by different names i.e. Parel, Dadar, Sion.

Wadala has witnessed particularly high level of infrastructure development thereby opening a new door towards the buyers.  A district suburb will be soon matching hard to the commercial capital of the nation. Many offices have been dwelling of global leaders are eyeing space for the city. Spread across 115 hectares and designed for a peak capacity of 3,000 trucks at a time, a truck terminus was being developed at Wadala to house offices and go downs of transport companies. Easy loading and unloading facilities, parking areas for trucks and other facilities like dormitories for essential staff, dispensaries, motor spare part shops and petrol pumps were to be part of the project. Now, with Wadala turning into a transport hub, the MMRDA is planning to restrict some of the services and develop the area in a way as to garner maximum profit. Alternate truck parking lots are being looked at Navi Mumbai and Ghatkopar and the search is on for the third location. The MMRDA also wants to develop a sleek, state-of-the-art interstate bus terminal with world-class passenger platforms, food courts, cinema halls, departmental stores, budget hotels, rest rooms and recreation centers.

One of the milestone infrastructure development is the monorail, the MTHL and the eastern freeway passing through wadala , it is to be believed that the area will attracts investments for national and multinational companies. Also soon Wadala is in making of the second business district after the Bandra Kurla Complex (BKC) which has gain momentum.

Wadala has several schools and some of the renowned institutions like Veermata JiJabai Technological Institute, South India Welfare Society, and Khalsa College. One of the largest bus depots is at Wadala. Many hospitals in which one of the renowned eye hospitals like Aditya Jyot Eye Hospital along with BPT hospital and many municipal hospitals.  Wadala is also home to the world largest IMAX dome theatre. Over the years the state government is working very hard for slum redevelopment.  When we talk about providing the holistic and fulfilling lifestyle Wadala has gone undergone a lot of changes. Malls and multiplexes have been mushroomed here offering brands.  Several malls have boasted here such as RMall, High Street Pheonix , Palladium Mall.  And no longer have the residents to travel to Mumbai to cater their shopping needs, there is much for the potential buyer that new Mumbai has to offer- supermarkets and malls like Apna  Bazaar, More, Spencer’s, Reliance Fresh, Spinach and Fairprice cater to the shopping needs of the residents. DMart has launched five hyper malls in Navi Mumbai. Leading banks such as the State Bank of India, Union Bank, Saraswat Bank, Bank of Baroda, Bank of Maharashtra, Bank of Hyderabad, Citibank India, ICICI Bank, and HDFC Bank have their branches and ATMs.  The city does not lag behind in the five star hotels too.   Considering so much in just one city there could be no disappointment in the potential buyer of residential premises in Wadala. Seeing the market demands the builders and brokers have also increased the rates. Owning a property in new Mumbai is no longer an easy task. However more and more people are moving here owing to better lifestyle, better housing schemes, and more scope of development in all sectors.

The city also has excellence safeguard law and order making it a preferred choice of living. After much of the development the city has maintaining hard to retain its ecological balance.

Also one of the vital things, Wadala today provides vital range of realty offerings from 1bhk to 5bhk apartments, duplexes, penthouse to villas. Hence there is something for every home seeker.  Buyers from all over the MMR region look up to the destination with well planned infrastructure that ensure future.
A decade ago, real estate prices at Wadala were Rs 1,800 per sq. ft. which went up to Rs 9,000 a few years ago. Now, though, they hover at Rs 13,000 per sq. ft. With the announcement of development projects, people from South Mumbai are shifting to Wadala.  There are several advantages to Wadala. Prices per sq. ft in Andheri and Borivali are between Rs 10,000 and15, 000. Wadala’s prices are at Rs 13,000 per sq ft. Yet, Wadala is closer to South Mumbai, than the Western suburbs so this explains why experts predict that while property prices in the suburbs might go down by 25-30 per cent, Wadala prices are expected to remain stable.

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