4 things that make Palghar a lucrative destination to invest in
- 6 February 2018
The one thing we all desire is the luxury of spacious living. To come home to open spaces, clean and fresh air, and nature’s bounty, is certainly a blessing. When coupled with all the amenities for easy living, it adds up to an offer that is hard to resist.
Property in Palghar is all about spacious housing options, abundant employment opportunities, rapidly growing infrastructure, etc. It also offers well-planned social amenities and ample connectivity options to the metropolitan business district, etc.
Palghar district comprises all of eight talukas. It also includes Vasai-Virar, which is acknowledged in the Mumbai Metropolitan Region, and a good chunk of the industrial area of Boisar. For the longest time, Palghar has served as a popular vacation and a weekend destination. The town is known for its forts and palaces, resorts, picturesque landscapes, tribal art and beaches.
With substantial developmental plans in the pipeline, Palghar’s infrastructural development is something to look forward to. Strategically located, Palghar offers efficient connectivity by rail and road, and several other advantages. The city is an important halt on the Western Railways, which allows residents to travel to commercial hubs such as Andheri, Lower Parel, and Churchgate, with ease.
Many outstation trains halt at Palghar. The Mumbai-Ahmedabad High-Speed Rail (MAHSR) – or India’s first bullet train – is also expected to make a stop at Palghar. This will greatly complement business among the two cities and is expected to contribuProperty in Palgharte to infrastructure development in Palghar
The district has also announced a new township as its headquarters. The project will include the building of residential, commercial and industrial zones. CIDCO has been appointed as the Palghar New Towns Authority for the development of Palghar District Headquarters and New City. CIDCO will take up the construction of buildings and other required infrastructure. The new township is expected to have quality community centers, gardens and waterfront developments to enhance the overall design and planning aspects.
With its own thriving industrial base – BIDCO Industrial Area – Palghar is today an industrial hub of repute. Palghar also offers abundant employment options as it is home to the largest MIDC (Maharashtra Industrial Development Corporation) of the state. The MIDC at Tarapur is home to renowned industrial units and global corporations, namely Raymond, TATA Steel, and JSW Steel. With a working population of approximately 1.5 lakh people, the self-sustaining Palghar is today a reputed employment hub.
Educational institutions (primary schools, high schools, and colleges), shopping centers, movie theatres hospitals, hotels, and restaurants are already established in Palghar. Also, well-known retail outlets such as DMart and Big Bazaar are located a short drive away, and serve as important development indicators.
Real estate scenario:
The real estate scenario in Palghar appears promising, with several institutionalized real estate developers already present in the region, having identified its growth potential and the impending demand for quality value housing early on. The Palghar property of Mahindra Lifespaces is called Happinest – Palghar. Mahindra Lifespaces, the $19 billion real estate and infrastructure development arm of the Mahindra Group, has realized the development prospects of Palghar. Happinest – Palghar is also the first affordable housing project to be undertaken by a joint platform between Mahindra Lifespaces and HDFC Capital Affordable Real Estate Fund – 1 (HDFC Capital).
Palghar District was carved out of the old Thane district and today, is the 36th district of Maharashtra. Palghar property is currently priced competitively, with scope for good appreciation. Timely investors can look at reaping the benefits of investing in a fast-growing destination that offers a well-balanced and healthy lifestyle.