The stretch between Vikhroli to Mulund through the LBS Road has steadily emerged as a vibrant and affordable destination as compared to central Mumbai or western suburbs. The locality grew rapidly as a significant amount of industrial land was converted for residential purposes.
The stretch 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. The icing on the cake is the tranquil surroundings, the lush green ambiance, 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. It is also the “GREENEST” suburb of Mumbai because of its extensive and soothing green cover.
Describing the growth story of this suburb, Mr. Rajat Rastogi, Executive Director, Runwal Group said, “With the rapid growth of upmarket towers, retail outlets, and commercial establishments, this area is changing the suburban skyline. Numerous tall towers have marked their presence and more are coming. The infrastructure developments to have played their role in seamlessly connecting the location to other locations such as Navi Mumbai, Thane, South Mumbai, and the western suburbs. The emergence of a vibrant lifestyle in the region along with the presence of top-notch brands, malls, and restaurants, has provided the home buyers with access to a high street living. Apart from all this, the location has been surrounded by beautiful green belts. These factors have transformed the area into an enviable mix of convenience and leisure making it an ideal destination for those looking to be a part of the buzz, yet have the privilege of green tranquil surroundings.”
Speaking about the locational advantage, Mr. Ketan Musale – Founder & Director, Dotom Realty said, “The development of the Eastern Express Highway, Eastern Freeway along with JVLR and the Santacruz Chembur Link Road, 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 LBS Road on the Central suburbs such as Vikhroli, Kanjurmarg, Bhandup, and Mulund have an edge over other locations due to the presence of high-end residential complexes loaded with state-of-art modern amenities and facilities.”
With the saturation of the prime residential locations such as Ghatkopar and Powai; this stretch on the LBS Road is now transforming from pure industrial locations to mixed-use destinations featuring commercial and premium residential developments. The area not only encompasses residential complexes but also comprises of several business centers and plush shopping malls. Reputed real estate developers have already established their footprint in this location owing to its future growth potential.
Speaking from the demand perspective, Mr. Kunal Chheda – Vice President, Corporate Affairs, The Wadhwa Group said, “Multi-storied towers and complexes have become a norm in Mumbai’s suburbs. As compared to the more affluent property destinations of Mumbai, this residential market is still quite reasonable and is, therefore, seeing considerable demand. The location’s value proposition is instantaneously enhanced with seamless connectivity and easy accessibility to social infrastructure like schools, malls, hospitals, restaurants, parks, etc. Despite rapid growth in its residential and commercial sectors, the area continues to retain a serene atmosphere that appeals to home buyers.”
The stretch between Vikhroli and Mulund on the LBS Road has excellent connectivity with the business districts of Thane, Powai, BKC as well as South Mumbai connected through Jogeshwari Vikhroli Link Road, Eastern Express Highway, Santacruz Chembur Link Road, and the Eastern Freeway. It is strategic positioning on the central line provides easy accessibility to both the Harbour and Western lines of the city’s local rail network. It is also well-connected with IIT Mumbai, Andheri SEEPZ, Vikhroli IT parks and the SEZ at Powai. Corporate campuses such as Eastern Business District, Avior Nirmal Galaxy, 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. LBS Road is today lined with major shopping malls like R-Mall, Huma Mall, Dreamz Mall, and Nirmal Lifestyle; also along the LBS road, there is D-Mart & METRO Cash & Carry, popular high street in the form of R-Galleria and the world-class Fortis Hospital. It is also blessed with good infrastructure, better transport facilities (than most other eastern city suburbs) and competent education and medical facilities, making it an ideal residential option for those looking for an upmarket lifestyle.
With infrastructure-based projects like Mumbai Metro – Line 4 flourishing in the vicinity along with the proposed construction of Goregaon Mulund Link Road, property prices in the area are bound to shoot up. These projects when materialized will enhance connectivity and lead to more appreciation in property rates. The area is witnessing tremendous growth in terms of upcoming and near-completion projects by various developers. The real estate price graph has been on the rise almost consistently from the year 2013 to 2019. The prices have doubled and in some cases, almost tripled in the past six years.
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 buyer’s mind. This belt has ready answers to these questions. An enviable location, impeccable connectivity, developing infrastructure, well-planned projects at affordable values and green environs – it’s no wonder that this stretch is becoming the preferred residential destination of upwardly mobile individuals and families.