Mulund Property market: An Overview

Article - October 2017

Mulund is a suburban locality of north-eastern Mumbai. It is divided into two parts – Mulund west and Mulund east. Located between Thane and Navi Mumbai, Mulund enjoys a strategic location

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A preferred residential destination, Mulund enjoys proximity to a number of developed areas of Mumbai. Mulund west enjoys the tag of ‘the prince of the suburbs’. Mulund west is linked to Sion via Lal Bahadur Shashtri (LBS) Marg. Mulund houses the business offices of some of the biggest companies, namely Johnson and Johnson, Wellcome (Glaxo), Hoechst, Richardson & Cruddas, Chicago Pneumatic, Oxygen, ACC, Merind and Agfa and Gabriel. Mulund east, on the other hand, houses both residential and commercial centres.

The locality is well-linked to various developed areas of the city and a number of hotels, schools, banks and hospitals via an excellent network of railways and roadways. The locality is witnessing an increase in population in recent years, owing to its proximity to various employment hubs and offices set up by some of the leading companies

Connectivity with nearby Mulund localities

  • - The locality is located close to the two prominent localities of Maharashtra – Navi Mumbai and Thane.
  • - The Airoli-Mulund Bridge, the Eastern Express Highway and Lal Bahadur Shastri (LBS) Road connect Mulund to various other parts of Maharashtra.
  • - The nearest airport is the Chhatrapati Shivaji Maharaj International Airport which is located at a distance of 14.3 kilometres.
  • - BEST bus transport network operates here.
  • - The nearest railway station is Mulund, which makes Bhandup, Ghatkopar and Vikhroli accessible from Mulund.

Employment hubs near Mulund

  • - MIDC
  • - SEEPZ
  • - Powai
  • - Bandra- Kurla Complex
  • - Agfa & Gabriel and Richardson & Cruddas

Schools in Mulund and other social amenities

Mulund provides its residents with all kinds of social amenities to live a happy and peaceful life. Various schools in Mulund include DAV International School, Billabong High International School, Vikas College of Arts and Commerce, Mulund College of Commerce, Datta Meghe College of Engineering, Ramanand Arya DAV College and many others.

The major hospitals in Mulund include Hira Mongi Navneet Hospital, Maruthi Nursing Home, Spandan Health Care – Chandraganga Hospital and Holy Trinity Hospital.

Apart from these it also provides recreational amenities and proximity to various banks and ATMs. The locality also provides its residents with many luxurious shopping centres such as R-Mall, Lifestyle, GBIM iStore, Vishal MegaMart, Ecstasy-The Mall and Kapeesh Mall.

Physical infrastructure in Mulund

Plans for the development of Goregaon-Mulund Link Road (GMLR) has been made by the Brihanmumbai Municipal Corporation (BMC) which will link Jogeshwari-Vikhroli Link Road (JVLR) and the stretch connecting Aarey Colony to Powai, Mulund and Vikhroli.

Price trends in Mulund

  • - Price appreciation in Mulund east – Around 27.9 % in last 2 years.
  • - Price appreciation in Mulund west – Around 19.9 % in last 2 years.
  • - Current property rates in Mulund east –Rs 12,544 – Rs 18,278 per sq ft.
  • - Current property rates in Mulund west – Rs 12,402 –Rs 19,672 per sq ft.

Reasons to invest in Mulund

The huge surge in property prices in Mulund east and west, is suggestive of the fact that the locality is sure to prove to be a good investment in the future. The presence of business offices in and around the locality is making Mulund a coveted working, as well as residential destination of Mumbai.

Big-ticket projects like HDIL Whispering Towers, Marathon Eminence, TATA Housing Aveza and Soham Eastern Crest make Mulund a preferred residential neighbourhood and also serve to trigger a surge in property pricing in the future.

Source - housing.com