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Wow Wadala!!!

Saturday, August 18, 2018

The sleep suburban neighbourhood of Wadala which shares a waterway on the eastern periphery is slowly emerging as a Real Estate hotspot

By Dhaval Ajmera – Director, Ajmera Group

At one point of time, Wadala used to be considered as a distant central suburb of Mumbai, but is now well within the city limits. The area is bordered by Dadar on the West, Matunga on the Northwest and Sewri on the South. Locations like Wadala and Chembur were earlier known to be the main industrial zones where factories and mills were setup. These areas were initially not known to home-buyers, but in the mid 2000’s this perception took a 360 degree turn due to development of trans harbour Railway line which helped in connecting these areas to south Mumbai and other Central stations. Wadala has undergone phenomenal transformation, right from being an industrial zone to a residential area. It has further fuelled the real estate market with newer developments like monorail Phase 2, metro projects, Freeway, proposed Sewri Navasheva Sea Link and Chunnabhatti fly over.

It is a great example of multiple infrastructure initiatives driving an area’s real estate market. Wadala is the only suburb in Mumbai that has efficient connectivity via all the possible public transports, be it local train, buses, monorails or upcoming metro projects. The planned elevated corridor connecting BKC to the eastern express highway, near Chunabhatti and the proposed metro line 4 connecting Wadala-Ghatkopar-Thane-Kasarvadavli, are expected to further improve connectivity significantly.

Apart from the residential projects, the area is also a thriving location for Commercial market. With plans of converting the Wadala Truck Terminal into a Central Business Districts, the future is certainly looking brighter. A CBD essentially consists of major commercial hubs and residential hubs along with other social amenities such as hospitals, malls and education institutions. This MMRDA approved CBD is likely to be one of the biggest office complex covering a huge office space that will create a plethora of job opportunities which will make Wadala the most sought after suburbs of Mumbai.

Moreover, Chief Minister Devendra Fadnavis has advised to follow the mixed-use land policy for the Wadala CBD, which is the most ideal choice for the development of the area. It is extremely important for a place to offer a wholesome deal to the consumers for its sustenance. A good mix of commercial, residential and retail adds life to the area and makes its more desirable as far as real estate is concerned.

Speaking of amenities, Wadala has various schools and reputed educational institutions like Dr. Ambedkar Commerce & Law College, South Indians Welfare Society College and soon enough Ajmera Group will be launch a premier school too. This has contributed in increasing the demand of this region. These region also has many entertainment and recreational spaces like malls, gardens and the very popular IMAX Cinemas-India’s first dome theater is also located in Ajmera i-Land, Necessities like colleges, hospitals, schools and public parks are in vicinity along with the monorail that connects Chembur and Wadala. The second stage of mono rail which connects Wadala to south Mumbai has already got approval on the stations. All these features make these zones highly livable.

Wadala also has ample of green cover around the region and boost a 25 acres of garden called Bhakti Park Garden. Despite of being connected to the hustle and bustle of the city, Wadala gives you a sense of tranquility. Residents can enjoy the calm and peace and at the same time stay well connected to the city, which is like getting best of both the worlds.

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