A promising city located on the banks of the Ulhas River in Thane, Kalyan, has been making quite the waves in the real estate market, given the rapid development of its infrastructure and social amenities, making it a top choice among home buyers. The Taluka subdivision has mainly gained traction among working professionals, offering convenience and affordability, with it currently having a population of an estimated 1.8 lakhs over an area of 137.2 sq. km.
Having been given the title of a Smart City, Kalyan has been witnessing an increasing population from Mumbai migrate for job opportunities, given the Thane district’s proximity to commercial and industrial centres such as Dombivali East MIDC and Bhiwandi. According to recent studies, most buyers prefer properties within ₹50 lakhs, with 1 BHK flat reigning supreme, especially in Kalyan West.
Nonetheless, let's look at some primary reasons why Kalyan has emerged as a top destination in the residential real estate market.
1. The upcoming Metro Line 5
Connecting Thane-Bhiwandi-Kalyan will be a 24.9 km elevated line. The Metro Line 5 will consist of seventeen stations, providing significant relief for commuters and helping reduce travel time. Acting as a transit between the government, commercial, and industrial areas, Line 5 will help boost the economy of Kalyan and other MMR cities, with forecast reports suggesting over 46 lakh people migrating to the city by 2031.
2. Rewarded the Smart City symbol
Recognised as a Smart City by the government, Kalyan holds the potential to overtake many of its MMRDA counterparts. The Thane district will be witnessing substantial development in its public facilities, such as water, sanitation, power, and healthcare, helping improve the quality of life of its residents. Some of these projects include Umbarde's ambitious 10-metric-ton bio-methanation plant project, the Solid Waste Management project and the segregation of garbage bins in households.
3. Upcoming Kalyan Ring Road No.2
The MMRDA authorities have been working on a 26 km ring road in Kalyan, connecting Dombivli West Titwala Village. The highly anticipated project will help reduce traffic congestion and save time, expected to reduce travel time to a mere 15 minutes. Other projects, like the flyover in Shilphata and the Mumbra-Panvel Road underpass, will only help make things better.
4. Affordable Housing
Offering the perfect and rare mix of comfortable yet affordable housing, the current average price per sq. ft is approximately ₹6,612. Ranked the 7th most populated city in the MMR region, Smart City has top developers building luxurious multi-storey apartments, making it an ideal investment destination.
5. Offering some of the best educational facilities
University sub-campus in Kalyan has provided students with an array of choices when choosing their courses, offering up to 100 options. Some upcoming campus developments include the Birla Institute of Technology and Science Pilani setting up a management school in Kalyan. The city also has the following schools and colleges to choose from:
- Regal College
- Shantinagar School
- Tilak Nagar Vidya Mandir High School
- Bhaskar School
- S.H. Johndale School
6. The improving network of roads will boost the economy
Improving road connectivity to economic hubs like Dombivli, Ambernath, Ulhasnagar, Bhiwandi, Badlapur, and Thane will help increase job opportunities for Kalyan residents, aiding their economy. Improving access and ease of commuting will help smooth business activities, leading to people migrating to this Taluka subdivision, which will ultimately cause a surge in demand for housing properties.
7. Revamping the Kalyan station
An outstation rail terminal, the Kalyan is a crucial junction on the central railway line. The redevelopment plan for the station is set to include six more platforms for long-distance travel. In addition, the ambitious revamp plan will also involve installing a route relay interlocking at the Kalyan station, which is necessary for signalling the system administration.
8. The rental real estate market in Kalyan
The current average rent in Kalyan stands at an estimated ₹6,637. The rent for a 1 BHK in the locality ranges between ₹3,500-₹8,500 per month and 2 BHK being between ₹7,000-₹18,000. Hence, for those unwilling to buy, leasing out a property can be very pocket friendly compared to other cities in MMR.
9. Upcoming developments
The concerned authorities and government continue to push for growth in Kalyan, formulating various infrastructure plans, some of them being the following:
- The construction of a freeway from Katai Naka to Kalyan will aid connectivity to parts of Navi Mumbai.
- Easing commuting between Kurla and Kalyan, with ongoing work on new railway lines.
- Developing cycle tracks in Kalyan as a part of the smart road project.
- Establishing a railway line between Kalyan and Asangaon under Mumbai Urban Transport Project (MUTP) 3A
Conclusion
As we come to the end of the blog, it's easy to understand that Kalyan is a top choice among home buyers, given it still has a lot of untapped potential. The factors listed in the blog make it the perfect destination for homebuying and even from an investment point of view as it promises healthy returns in the future.
