Chandivali emerges as a lucrative destination for real estate development

Written by Manju YagnikMumbais real estate market is always changing and some neighbourhoods are becoming more wellknown than others because of their advantageous locations excellent infrastructure and desirable living environments Chandivali stands out among them as a key micro market offering the appropriate balance of quiet and quick access to the metropolis Chandivali has evolved with time due to its proximity to important commercial centres continuous infrastructural development and varied real estate options making it extremely popular for developers and residents alikeThe strategic location of ChandivaliLocated southwest of the wellknown Powai Lake Chandivalis most valuable feature is its advantageous location The closeness of Chandivali to Powai a reputable residential and commercial area has contributed to its explosive expansion Because of its accessibility and tranquil surroundings professionals working in Powai Andheri and the popular LBS Marg find Chandivali a great place to reside The neighbourhoods location guarantees short commutes to work while also providing residents with a tranquil haven from the bustle of the cityChandivalis location also has excellent accessibility to other regions of Mumbai The JogeshwariVikhroli Link Road JVLR is a key arterial road that connects the western and central suburbs significantly shortening travel times This road and convenient access to the Eastern and Western Express Highways simplify commuting to vital commercial centres and information technology parks Furthermore Chandivalis proximity to major IT parks corporate centres and educational institutions increases its appeal making it a top choice for professionals and familiesInfrastructure development A catalyst for growthThe major infrastructure improvements that have taken place in Chandivali are primarily responsible for its transition from a quiet suburb to a bustling residential hub The neighbourhood has seen the construction of additional roads flyovers and better public transportation choices in recent years Chandivalis rapid growth as a popular residential destination can be attributed to these projects making the area more convenient and accessibleThe ongoing Mumbai Metro expansion is one of the most awaited infrastructure projects that would increase Chandivalis prominence By 2025 the planned Pink Line Line 6 will link Lokhandwala with Kanjurmarg through Jogeshwari Powai and Chandivali This new metro line will serve as a muchneeded public transportation alternative by cutting travel times to important parts of the city and easing traffic congestion Chandivalis connectivity will be greatly enhanced when the metro is fully functional increasing its appeal to investors and homebuyersApart from the transportation network Chandivali has all the facilities a person could need The region has several wellknown hospitals schools and retail establishments fostering an ecosystem that supports itself and provides for its citizens daily needs The availability of these facilities guarantees that locals wont have to travel far for their daily needs which raises the areas allure as a residential centreAlso Read Generational shifts How Millennials and Gen Z are shaping luxury real estateChandivalirsquos real estate market A snapshotThe constant rise in demand and property prices in Chandivalis real estate market reflects Mumbais growth direction PowaiChandivali region has seen over 1200 property transactions in the last year indicating the areas rising appeal The average cost of real estate in this area is 30750 per square foot and it has increased by 437 annually An ongoing increase in property prices highlights the areas potential as a profitable investment destinationProperty prices increased by 1537 in the most recent quarter driven by a combination of end users and investors Investors are drawn to Chandivali by the areas potential returns on investment while endusers are enticed by the areas affordability compared to other desirable places in Mumbai As more people learn about the advantages of living in Chandivali and as infrastructural development advances the areas real estate market is anticipated to continue to riseDiverse real estate offerings Something for everyoneThe variety of real estate options offered by Chandivali is one of its primary benefits As a result the neighbourhood is an appealing location for people of all tastes and financial situations to live in The variety of Chandivalis real estate offerings which range from luxurious homes to affordable apartments guarantees that there is something for everyoneChandivalis appeal is further enhanced by the modern residential complexes created by prominent developers These complexes equipped with clubhouses gyms swimming pools and landscaped gardens cater to the needs of modern homeowners They ensure a convenient and comfortable lifestyle making Chandivali an even more attractive place to liveChandivali is home to wellknown neighbourhoods and modern homes that attract selective buyers These communities are characterised by thoughtful designs ample green spaces and highquality construction offering a perfect blend of luxury and tranquillity The presence of renowned projects further elevates Chandivalis status as a prime residential destinationA lifestyle of comfort and convenienceThe areas way of life is an ideal blend of urban comfort and scenic beauty The region has several parks playgrounds and green areas giving residents lots of chances to relax and engage in outdoor activities Chandivali is the more suitable choice for those who appreciate nature because of its profusion of vegetation which provides a welcome contrast to the concrete jungle that is most of MumbaiChandivalis allure is further heightened by its proximity to the serene Powai Lake This beloved spot is perfect for tranquil walks and outdoor pursuits Chandivali is an ideal retreat for those seeking a break from the city thanks to its abundance of natural featuresThe future of Chandivali A promising outlookChandivali will become one of Mumbais most desirable residential areas as it grows and develops further Due to its strategic position varied real estate options and continuous infrastructure development Chandivali is a desirable option for both investors and homeowners Given its attractive lifestyle options and potential for appreciation Chandivali will surely maintain its position as a major participant in Mumbais dynamic real estate marketChandivali is a vibrant and dynamic neighbourhood that has successfully carved out its niche in Mumbais competitive real estate market It offers the perfect blend of urban living connectivity and tranquillity making it a highly soughtafter place As the area grows it is poised to become one of Mumbais key residential hubs attracting diverse residents seeking convenience and comfortThe writer is Vice Chairperson of Nahar Group and Senior Vice President of NAREDCO ndash MaharashtraThe views expressed here are the individualrsquos and donrsquot represent those of the paper