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Mulund: The Emerging Suburban Investment Destination

Blox Social
Posted on
Apr 26, 2023

With a population of over 27.1 million people, Mumbai is one of the most populated cities in the world. With every passing year, the limits of the Brihanmumbai Municipal Corporation (Municipal Corporation Greater Mumbai) are expanding to accommodate new and upcoming suburbs. So much so that even residents of the Thane district are now referred to as Mumbaikars.

The ubiquitous dream of every Mumbaikar to own a home, a residential property that will be the perfect place to make beautiful memories and bring prosperity, has led to a high demand for residential projects in Mumbai suburbs. Mulund is one such neighbourhood which is quickly turning into a real estate hotspot and a homebuyer's paradise.

Location Advantage

Mulund's location to the northeast of Mumbai offers it a unique advantage. It is a midpoint, a focal hub that is nearly equidistant from commercial centres in Mumbai, Thane, and Navi Mumbai. And therein lies its greatest attraction. With highly developed suburbs like Andheri, Malad, and Chembur running out of space, the city's top developers have now found a new suburb to plan and develop expansive and luxurious projects. What attracts home buyers is the lower cost of housing than many of the busier suburbs. Mulund has struck gold!

The 21-kilometre-long Lal Bahadur Shastri Marg running through Mulund West is the arterial road that connects the eastern suburbs. Parallelly, the Eastern Express Highway makes its way through the centre of Mulund East, offering quick connectivity to Thane in the north and Chembur, Sion, Dadar, Parel, and Byculla in the south. Running transverse through the suburb is the Mulund-Airoli Road that goes over Thane Creek right into Navi Mumbai and connects with the Thane Belapur Road. Road connectivity is excellent, but nothing quite compares with the quick commute offered by the Central Line of the suburban rail network through Mulund Railway Station. Work on the Goregaon-Mulund Link Road (GMLR), an INR 8,000 crore project to connect the Western Express Highway to the Eastern Express Highway, is also in the works.

The Social Connect

With work commute out of the way, the next thing homeowners in Mumbai look for is social infrastructure. Mulund is a planned suburb with great roads and infrastructural development. Growing families and young professionals can find themselves in a neighbourhood with lots to do and experience. Mulund has some of the best schools, medical centres, and entertainment options in Mumbai. This leaves residents with very little need to travel to the heart of Mumbai or Thane for their daily needs or socialising.

Holy Angels Marthoma, DAV International School, St. Mary's Convent High School, and Bombay Presidency International are among the best schools in the suburb. The Fortis Hospital in Mulund is a state-of-the-art medical facility with multiple specialities. For those who love shopping, the suburb has several malls, street markets, and shopping centres as well. Despite the hybrid growth, Mulund offers residents unique opportunities for a calm, peaceful, yet stimulating lifestyle.

Greens and More

Like Goregaon East, Mulund West enjoys the advantages accorded by its proximity to the Sanjay Gandhi National Park – the veritable lungs of Mumbai. The 25,000-acre large, lush green, ecological paradise with its beauty and birdcalls is something every homeowner wants to wake up to. This is what makes ready-to-move apartments in Mulund West sell like hotcakes. Not to be outdone, the wetlands wedged between Mulund East and Thane Creek are a diverse bio habitat for several species of birds, including flamingos that come here from Gujarat. So if you are looking for a Mumbai suburb that has great air quality and is connected to Nature, Mulund has to be it.

Mulund – An investment destination

Owing to the booming demand, property prices have risen tremendously in Mulund. Average property rates were about INR 7,000 per square foot in 2008 and have risen to more than INR 20,000 in 2023. Now that is the kind of asset appreciation every real estate investor chases. According to property experts in Mumbai, this is a good time to buy property in Mulund, particularly with the upcoming Navi Mumbai airport.

The real estate market in Mumbai is on an upswing, and micro markets like Mulund are the favourite of some of the city's top developers like the Piramal Group, Runwal Real Estate Group, Anon Developers, the Lodha Group, and Oswal Realty. In addition, the launch of Metro Line 4 and the GMLR will further improve connectivity to the suburb and make commuting to Mulund quick and easy.

Mulund is perfect for families looking for a clean, green environment, upscale locality, projects with ample amenities and facilities, and a holistic social life. Now that is the dream that most people come to Mumbai with, and that is exactly what this beautiful eastern suburb has to offer.

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