Major Metamorphosis Of Bhiwandi-Kalyan Corridor

The Mumbai Metropolitan Region (MMR) is witnessing a massive infrastructure upgrade at a cost of over Rs Five Lakh crore (as per news reports). The immediate impact of this development is being felt in the rise of micro-markets close to the financial capital of the country.

Located only 20km from Mulund, the Kalyan- Bhiwandi corridor is undergoing a major metamorphosis.  The corridor primarily is a combination of two cities – Kalyan and Bhiwandi. While Bhiwandi is popular as an industrial and warehousing hub, Kalyan is dotted with low-income housing.  However, things are changing now.

The corridor is located on the north-east part of MMR with Thane market in proximity. Due to its strategically prominent location, the Bhiwandi-Kalyan corridor is an emerging hub for various large scale infrastructure projects. The infrastructure development, presence of job opportunities along this corridor is resulting in residential real estate development. Infact, this is the fastest growing residential market in MMR.

Some of the key proposed and on-going infrastructure projects that are changing the outline of the corridor are as follows:

Virar-Alibaug Multimodal Corridor - This 126km long highway will connect seven growth centers in MMR such as Virar, Bhiwandi, Kalyan, Dombivli, Panvel, Taloja & Uran.  The corridor will boost the warehousing & logistics activities in Bhiwandi due to improved road connectivity, providing easy access to the upcoming Navi Mumbai International airport, JNPT port, Trans-Harbour link and Vasai-Virar region.

Upcoming Mumbai Metro Line 5 between Thane and Kalyan via Bhiwandi - Currently, Bhiwandi is not connected to the suburban railway network in Mumbai. The metro line will enhance connectivity from Bhiwandi to Thane and other extended suburbs, employment nodes of Kalyan and Taloja, resulting in growth of demand for residential real estate in Bhiwandi.

Mumbai- Nagpur Samruddhi Marg and Delhi Mumbai Industiral Corridor - Bhiwandi is in the influence zone of both the critical corridors of MMR. Improved connectivity will boost warehousing, industrial, commercial and real estate development along this corridor.

Other Projects that will influence growth in Bhiwandi Kalyan Corridor

• Development of two new business hubs on the lines of BKC to be constructed in Kalyan and Dombivli
• In-land waterways project connecting Vasai to Kalyan via Thane
• Thane-Dombivli Link Road along with the Upper Thane-Dombivli Bridge over Ulhas river
• 8-lane widening of the currently 4-lane Mumbai-Nashik highway
• completion of flyovers at Mankoli and Ranjnoli

Collectively, these infrastructure projects will improve connectivity to Bhiwandi- Kalyan Corridor from various parts of MMR.

The residential market in Bhiwandi Kalyan corridor and its outlook

The Bhiwandi Kalyan corridor, the new real estate hotspot, has witnessed a dramatic growth in the past decade. On completion of the planned infrastructure projects, the price per square foot may rise further, thus providing attractive returns on investments made now.

Currently, the corridor has maximum supply of 1 & 2 bed apartments in budget-friendly category. However, increasing job opportunities and spending capacity will drive demand for 1 & 2 bed luxury apartments.

The strong outlook of this region has led to the presence of top developers offering luxurious residential projects. Today, a home buyer can easily find a well-designed spacious luxury apartment with many lifestyle amenities. Sky villas, designer lobbies, towers with neo-classical architecture, landscaped areas, and convenient stores are some features in the latest residential projects developed in Kalyan.  These new projects are an ideal choice for homebuyers residing in Kalyan, Ulhasnagar, Dombivali and Bhiwandi and are looking for an upgrade.

The price arbitrage offered by Bhiwandi Kalyan corridor is another reason for its impressive and potential outlook. For price- sensitive residents planning a home along Ghodbunder Road in Thane, the Kalyan-Bhiwandi Road is an ideal location for investment.  While the travel time difference from Majiwada to Ghodbunder Road and Majiwada to Kalyan- Bhiwandi Road is barely 10-15 minutes, there is a wide gap in pricing between the two locations. While a 2 BHK along Ghodbunder Road will cost over Rs 95 Lakhs, an apartment with same size will be priced in the range of Rs 60-70 Lakhs along Kalyan- Bhiwandi Road.

Similarly, a price arbitrage exists for home-buyers planning to buy a home in established locations of Kalyan. Apartments are priced higher at locations such as Khadakpada, Shahad in comparison to apartments along the Bhiwandi Kalyan corridor. However, the travel time difference to Kalyan station from these locations is minuscule. 

With improved physical infrastructure, the Bhiwandi Kalyan corridor has a good network of social infrastructure. Presence of popular schools such as Birla School, Holy Cross Convent, Green Acres Academy, Podar International School, hospitals such as Fortis hospital, Jann Kalyan, Vedant, departmental stores, entertainment centres enable residents to upgrade their lifestyle.

With improving connectivity and job opportunities, the Bhiwandi Kalyan corridor presents enticing prospects for homebuyers and investors. The corridor still has significant headroom for development due consistent demand from home buyers and availability of land parcels.

Infact, it has the potential to support Thane city as a satellite town and over time is expected to be one of a major residential cluster within suburban Mumbai.