4 Factors Fueling the Demand for Flats in Wadala East

An upcoming bustling neighbourhood located in central Mumbai, Wadala road lies on the harbour line of the financial capital’s railway network. The locality consists of a population above 1.4 lakh residents, with an area of 6.52 sq. km. Over the years, there has been a sudden boom in the infrastructure of the suburban area, especially Wadala East, with residential real estate being the game changer. There has been a sizeable increase in the demand for flats, with 2 BHKs being one of the most popular choices. 

Nonetheless, this blog will walk you through Wadala East, explicitly understanding the factors driving the real estate market: strategic location, connectivity, affordable pricing range, and social infrastructure.

Now, let's look at these reasons and how they affect the demand for flats. 

1. Strategically located and smooth connectivityr
Wadala East’s proximity to commercial centres like Bandra Kurla Complex (BKC), India Bulls Finance Sector, and Mumbai Port Trust make it an attractive investment destination. Neighbouring localities like Dadar, Matunga, and Sewri surround the central suburb. Regarding commuting, the eastern section of Wadala has an efficient network of roads, railways, and the Monorail 1. 

• The Wadala road railway station connects the central suburb to other essential city areas. 
• The Mumbai and eastern express highways connect Wadala East to Thane and Navi Mumbai.
• Consisting of the largest bus depot in Mumbai, one can expect a high frequency of bus services. 
• BKC Chunabhatti Flyover helps reduce the travel time to BKC from 45 to 6 minutes. 
• Access to Monorail 1 services and Versova-Andheri-Ghatkopar Metro Line

2. Robust social infrastructure 

With Wadala East becoming a hotspot for real estate, the neighbourhood has been luring buyers, offering them top social amenities in schools, colleges, medical centres, and recreational spots. Nevertheless, let's look at some of the landmarks of the locality.
Schools and Colleges

• Little More Pre School
• Tree House Play Group
• Shree Amulakh Amichand Bhimji Vividhlakshi Vidyalaya    
• I.H.Bhatia English Primary School
• Little Angels' High School        
• Institute of Chemical Technology    
• Veermata Jijabai Technological Institute    
• MCGM L K Waghji Mumbai Public School    
• The Dadar Parsee Youths Assembly High School    
• Swami Vivekanand College    

Healthcare Facilities

• Shanmukhananda Jasubhai R k shah Medical Centre    
• Smt. S.R. Mehta and Sir K.P. Cardiac Institute    
• Shanmukhananda Aditya Jyot Eye Institute    
• Iyers Polyclinic    
• Mata Lachmi Hospital    
• Shah Nursing Home
• Vyas' Surgery
• Jyoti Nursing Home    
• CGHS Polyclinic Koliwada    
• Genesis Speciality Center Health-Check Up

Recreational Centres (Restaurants and shopping centres)

• Cafe Madras
• Anand Bhuvan
• Anna Coffee
• Ram Ashray South Indian
• Palladium 
• K Star Mall
• Noora Mall

Commercial spaces

• Mirchandani Business Park    
• Raiaskaran Tech Park    
• Leela Business Park
• Neelkanth Business Park    
• Neelkanth Corporate IT Park

3. Effective pricing

The current average price per sq foot in Wadala stands at an estimated ₹22,861, showing an appreciation rate of 6.41%, courtesy of the rise in housing demand. However, the upcoming locality offers an array of choices for its audience, with some upcoming exciting projects in the pipeline. 

Ajmera Treon: Next to Bhakti Park in Wadala, the upcoming premium residential project offers flats ranging in 2, 3, and 4 BHKs, with a starting price of ₹2.15 crores and carpet area between 919-2172 sq. ft. Some of its eye-catchy amenities include a luxurious clubhouse, tennis court, 24x7 CCTV surveillance, yoga area, and kids playing area. The development should be ready to launch by December 2024. 
Johaan Signature Isle: Situated in Wadla village, the luxury housing project has 1,2 and 3 BHK flats as its offering, having a starting price of ₹1.99 crores and a RERA registered carpet area that ranges between 490-872 sq. ft. Here is a list of some its recreational offerings such as a jogging/cycle track, green spaces, indoor games, and reflexology. 

Tattva Mittal Codename Five Gardens: Located in the Dadar-Parsi colony, the luxury project offers 2 BHK flats at a starting price of ₹2.26 crores, with a RERA registered carpet area of 741 sq. ft. Buyers will be entitled to some of the world-class amenities such as a gymnasium, swimming pool, kids playing area, and a designated spot for senior citizens.

4. Upcoming developments
As the locality looks to upgrade its infrastructure, the real estate sector will boom with some of the following projects. 

• A water tunnel running from Wadala-Chembur-Parel will help increase the water supply.
• The central business district (CBD) in Wadala will boost commercial growth.
• Upcoming metro station on Line 4, connecting Kasarvadavali- Bhakti Park and Line 11, aiding commuting between CSMT and Bhakti Park.
• The proposed Mahul pumping station will help resolve the issues of waterlogging. 
• The Mumbai Port Trust Hospital is expected to develop a 600-bed facility by the end of 2024. 

Final Thoughts

The real estate market in Wadala East is expected to witness an upward curve in its graph for the coming years. The harbour line suburb is an attractive destination for investors, with the above blog discussing the factors behind it in detail.