Explore Mumbai’s Most Exciting Suburb: Kandivali
In addition to being a Mumbai suburb, Kandivali serves as a rail hub on the western railway line. Near Kandivali, it is thought that some stone-age items were discovered, proving that the area had been inhabited previously. The township was semi-rural in the early 1980s, with agricultural land and villages, but it has since become more cosmopolitan as a result of the population’s continual growth.
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RECENT EVOLUTIONS
The eastern portion of Kandivali has been rapidly developing over the last few years, ranking among the top areas in Mumbai’s Western Suburbs. Some of the oldest residential neighbourhoods in this cosmopolitan region are Thakur Complex, Samata Nagar, Asha Nagar, Thakur Village, Hanuman Nagar, and Lokhandwala Complex. The Mahindra & Mahindra Limited tractor division had previously been the lone landmark in Kandivali E, but with the current growth, other locations, such as the large buildings and upscale residential complexes developed here, can now be mentioned.
Several people have expressed interest in purchasing property here. The reason is because it is easily accessible from the Western Express Highway, has decent infrastructure facilities including malls, schools, and colleges, and is more affordable than other Mumbai suburbs.
TRENDS IN CAPITAL/RENTAL
The neighbourhood has also seen Mumbai‘s biggest increase in land value. The region is worth between Rs 19,000 and Rs 30,000 per square foot for commercial use. The cost of the business space is based on where it is. Depending on the locality, you can rent a commercial space for between Rs 40 and Rs 100 per square foot.
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If owning a home in the neighbourhood is something you’ve always wanted to do, expect to pay anything between Rs. 7,000 and Rs. 9,000 per square foot. The top developments cost between Rs 10,000 and Rs 15,000 per square foot here. Developers including Ekta Meadows, Bhoomi Arkade, Dheeraj Group, Avon Housing, and RNA Corp have enjoyed some success in this area. Once more, the area’s location and closeness influence the rental rates. The area’s rental value has increased significantly over the past year, and Kandivali East has seen a 20% increase in rent. Recent rental costs in this area range from Rs 20,000 to Rs 30,000 for a 2 or 3 BHK and from Rs 14,000 to Rs 15,000 for a single room.
REGION OUTLOOK
Vicky Singh, a local real estate agent, believes that Kandivali has an advantage over the surrounding regions due to its central location and excellent train and bus connections. Here, renting houses is more popular than buying them. The key market for homes in this neighbourhood is the upper middle class, who would gladly invest one crore here.
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All the other parts of Mumbai are now fully developed. And some are too pricey and saturated, which is one reason for the rapid rush to Kandivali E. In Kandivali, there is a renowned gowshala that spans 5 acres and is home to 200 cows. The Gowshala is the sole patch of greenery in the neighbourhood because officials were forced to take down the trees due to previous events.
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Due to congestion and space constraints, people are moving out of the main town and into less populous places. People are moving to this area because of Kandivali E, and it is also enticing new buyers. There are also a lot of malls with multiplexes and kid-friendly hangouts in this area. To satisfy you want to shop, all you need to do is come to Kandivali E.
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