‘Kalyan, Bhiwandi may see real estate boom’

With the Mumbai Metropolitan Region Development Authority having planned to develop a logistics hub in Bhiwandi and the Maharashtra Road Development Corporation having planned an elevated road between Bhiwandi and Kalyan, experts feel this could bring a real estate boom in Bhiwandi, Kalyan and surrounding areas.

“Bhiwandi is already a logistics hub as of now, but with the MMRDA plan, the logistics sector will be more organised. Also, it is a fact that with development of infrastructure and connectivity, real estate gets a push. However, in this particular area, there is a possibility that Kalyan and its nearby areas could see an increase in demand for housing. People will prefer to work in Bhiwandi and stay in Kalyan and nearby areas,” said JLL India Residential Research Head, Ashutosh Limaye.

“Improving connectivity between Bhiwandi and Kalyan is important as currently, the route is narrow and full of potholes. We plan to complete the project within the next three years. We have floated tenders and once the detailed project report (DPR) is out, we plan to complete the project within three years,” said a MSRDC official.

MCHI Kalyan-Dombivali VP, Shrikant Shitole, said, “Kalyan has always been an end users market and it is very rational to interpret that any residential real estate growth requires growth in the industrial sector too which in the case of Kalyan will be the Bhiwandi logistical hub.”