In the fast-changing landscape of the city of Mumbai, the burgeoning economy of Bhiwandi – Kalyan Corridor is an emerging destination for real estate investments. Here’s a closer look into why Bhiwandi – Kalyan Corridor should be next on your list of real estate investment.

EMERGENCE OF BHIWANDI KALYAN CORRIDOR

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The Bhiwandi-Kalyan Corridor, these days, is considered as one of the emerging real estate destinations, however the evolution started as two distinct and separate micro-markets with Kalyan being residential driven and Bhiwandi being the large industrial & logistics hub. Kalyan was chalked out as one of the growth centres by the Government of Maharashtra to boost employment and development in the Mumbai Metropolitan Region (MMR). The adjoining Maharashtra Industrial Development Corporation (MIDC) areas were developed as industrial hubs backed by integrated transport infrastructure, well knitted social amenities and housing to support the economic activity in the region. Having been identified as an affordable housing cluster, Kalyan attracted home buyers owing to dearth of affordable housing in Mumbai city and its suburbs. Over the last decade the real estate landscape of the region has drawn interest from big-ticket developers and investors, making it an emerging destination for home buyers. Inclusion of Kalyan-Dombivli in the smart city mission is expected to further provide impetus to the overall development of the region. The residential real estate development in Kalyan was predominantly driven by the demand arising from the adjoining industrial & logistics centers at MIDC’s in Dombivli & Kalyan, Ulhasnagar, Bhiwandi and Ambernath. Strategically located amidst these employment centres coupled with affordable real estate prices made Kalyan one of the ideal locations for residential real estate development.