Wadala, located between South Mumbai and the suburbs, has experienced a remarkable transformation over the years. Once an industrial area, it has now emerged as a leading destination for upscale residential projects and shopping malls. If you’re considering investing in real estate, here are the top three compelling reasons to consider buying a 3 BHK in Wadala and making this locality your new address:
Rapid Growth
Over the past decade, Wadala has experienced a significant increase in rental yield thanks to its impressive connectivity and infrastructure developments. With numerous of infrastructure projects on the horizon, such as those proposed by the Mumbai Metropolitan Region Development Authority (MMRDA), the area is poised for even more growth in the real estate sector in the coming years. As such, investing in Wadala could yield excellent returns.
Strategic Location and Smooth Connectivity
Wadala is a prime location with modern infrastructure and superior connectivity, situated between South Mumbai and the suburbs. The area boasts excellent commercial potential, thanks to its proximity to the eastern freeway, eastern express highway, monorail, and upcoming metro-4 corridor.
Moreover, the Mumbai Metropolitan Region Development Authority’s (MMRDA) Transit-Oriented Development Plan includes the conversion of Wadala’s monorail depot into Mumbai’s first walk-to-work hub, further enhancing the area’s value proposition.
Infrastructural Upgrades
Dadar-Wadala is an ideal destination for families due to its exceptional educational institutions, medical facilities, and shopping options. The area is home to several renowned educational institutions, such as Wadala Hindu Mahavidyalaya, Ramnarain Ruia College, and Don Bosco High School.
Additionally, the region boasts some of Mumbai’s top hospitals, including the Tata Memorial Hospital and KEM Hospital, providing residents with access to high-quality healthcare services. With an abundance of retail establishments available in the area, residents can enjoy a variety of shopping experiences.
Upcoming Developments
Wadala is poised to become the third Central Business District (CBD) after Bandra-Kurla Complex (BKC) and Nariman Point, according to plans released by the Mumbai Metropolitan Region Development Authority (MMRDA). The region is expected to undergo significant commercial development, leading to a surge in the development of retail, hospitality, and serviced apartments in and around the area.
With projections suggesting that Wadala will offer more than four million residential and office spaces in the years ahead, the area is likely to create numerous employment opportunities. As a result, many reputable developers, including Lodha, Dosti, and Ajmera, have already expressed their interest in the area.
Prominent Builders
A major development is underway in Wadala that has propelled the region to one of the world’s most promising real estate hubs. The 288-acre truck terminus is being shifted out of Wadala, and the land is being transformed into a prime real estate location similar to Bandra Kurla Complex. Once complete, the Mumbai Metropolitan Region Development Authority (MMRDA) will auction the land to developers and institutions, opening up enormous realty prospects for the region.
The MMRDA sees the potential of Wadala as a business hub, similar to that of Bandra Kurla Complex, and is keen on developing it accordingly. With the potential for cap rates similar to BKC, the region is expected to experience a huge boom in real estate investments if the MMRDA is successful in its plans.
Conclusion
Wadala is poised to become a sophisticated and modern business district in Mumbai, providing an unparalleled lifestyle experience for the nouveau riche and premium homebuyers. The area’s projected growth is expected to add significant value to Mumbai’s burgeoning real estate market and contribute to the city’s overall economy. So, for people planning on buying a 3 BHK in Wadala, it would prove to be a great decision in the long term.