A suburb in the north-east of Mumbai, Mulund is nestled alongside the foothills of the Sanjay Gandhi National Park. Awarded with the tag of ‘Prince of suburbs’ Mulund marks the end of Mumbai city. Among all the other areas of the financial capital, Mulund property market is most sought after and is still gaining momentum.
Mulund is the one of the earliest planned neighbourhood of Mumbai city. Its development plan was designed by architects Crown & Carter in 1922, which extends from present-day Mulund railway station to Paanch Rasta road junction in Mulund (West).
Mulund is home to a cosmopolitan mix of large number of industrial factories as well as residential colonies. Because of this, it has attracted many home buyers in recent times.
So let’s understand what makes this place a sought-after property market of Mumbai:
The region is well connected to the other suburbs of Mumbai and other cities by an adequate network of trains, buses, and roads including a national highway. Mulund station falls on the central line of Mumbai railway. It has also easy access to the Eastern Express Highway and Navi Mumbai through the Mulund-Airoli Bridge.
Education and Entertainment
Mulund is home to many renowned and famous educational institutes of Mumbai like Mulund College of Commerce and V. G. Vaze College of Arts, Science, and Commerce. Many other colleges and schools like H.K. Gidwani High School, IMS India, Sharon English High School, St. Pius X High School etc are also located in this region.
Mulund is also famous for many recreational centers like Cinema halls, shopping malls, auditorium etc. Several gymkhanas and fitness centers, including Mulund Gymkhana and Talwalkars, are also located here. Kalidas Sports Complex is the major sports complex. Malls like R-Mall and Nirmal lifestyle are also the most loved destinations of the residents.
Because of the presence of quality social and civic infrastructure, such as educational institutes, hospitals, as well as various industries in its vicinity, Mulund’s property market fueled up in recent times with an increase in demand from many home buyers.
According to realty experts, “Due to its strategic location and better infrastructure, Mulund attracts many home buyers. Apart from this, the suburb also enjoys close proximity to the Sanjay Gandhi National Park. Well-defined industrial presence, streamlined connectivity and increasing number of residential projects, are making Mulund a sought-after destination, both, by buyers and developers.”
Further, in order to boost infrastructure in this region, BMC is working on the 14-km-long Goregaon-Mulund Link Road (GMLR). Once it is completed, the travel time between Mulund and Goregaon is likely to reduce to 15-20 minutes, as compared to the present time of over one hour. Other major infrastructure projects that will boost the real estate market in future include a monorail and extension of the metro rail line.
Experts further say that the proposed GMLR will be the fourth east-west corridor connecting the suburbs. This stretch will consist of three flyovers, an underpass, a rotary and a five-km, six-lane tunnel under the Sanjay Gandhi National Park, from Goregaon Film City to Bhandup.
Property price and trend
One of the most well settled and livable places of the Mumbai, Mulund today is preferred by many residential home buyers due to its infrastructure and connectivity to many industries. The residents of the locality come from the middle class, entrepreneurs and those who are working in the movie and television industry.
Moreover, Mulund is expected to witness nearly 3,000 million sq ft of development, with priority towards residential realty.
Furthermore, first-time buyers have the options to choose from studio apartments as well as two BHK flats at much affordable rates. On the other hand, the larger business families prefer spacious three and four-bedroom residences which they can easily avail in the region.
As per the analyst NRIs, service professionals and the business class, are driving the real estate demand in this micro-market.
So, with lots of open spaces and natural surroundings, Mulund offers a high standard of living with healthy lifestyle too.