With the exponential rise in the costs for buying a house in Mumbai, most middle to lower class families prefer to literally go the ‘distance’ for real estate ownership. The major burgeoning of such growth is beyond the far north or north east of the city. But there is a hot spot for buying residential properties in the city which can still be considered affordable. Apart from that, ample growth opportunities for businesses and employment create a ripple effect for rising quality and quantity of the residential projects in the area.
Malad developed from being a town with no notable amenities in the early 1960’s to the major commercial and consequently residential outpost in Mumbai suburbs today. From a cluster of loosely clustered villages in the 19th century, today Malad has become one of Mumbai’s driving forces in business and subsequently luxury residential projects. What are the benefits of buying a residential property in Malad? Let’s find out.
Malad: Strategic Location
As far as the Western Railways is concerned, Malad is exactly in between the towns of Churchgate and Virar. The central location of Malad has the advantage of providing minimum commute in either direction. Being centrally located also has the advantage of being a locality of diverse cultures including the aristocratic people from the south and the less elite northern folk. In fact, there is a sizable population of fishermen who live in big communities in the western extreme of the suburb next to the sea shore.
Malad also happens to be the epicentre of small businesses and retailers. Mindspace in Malad is a 110 acre self-sufficient business district that is predominantly an IT park but with ample residential options as well. World renowned groups such as JP Morgan, Travelex, Bank of America and GAP have their offices here. Around 350,000 direct and indirect jobs were created in this area which again pulls employees to reside nearby which also contributes to the cultural wealth of the locality. Since Andheri is costlier, to up the profit margin, these businesses have set up shop in this neighbourhood. The upside from these businesses for the residents is that Malad has everything one might need for joyous lifestyle mainly abundant employment opportunities apart from trivial facilities like grocery stores, multiplexes, street markets and malls in great numbers at a slightly lower price.
Malad: Great Connectivity
As mentioned, Malad being centrally located has many advantages. One of them is the connectivity on offer. Arterial streets such as the SV Road near the railway station, the Western Express Highway and the New Link Road provide an easy travel with maximum traffic in the north-south direction along with local roads providing travel options within the locality. The Malad Railway Station gives easy access to Mumbai Local Trains with a good number of trains skipping stations for a faster transport towards Churchgate once they reach Andheri. Many long distance trains to different parts of the country halt at Andheri and Borivali which are less than 15 minutes travel time from Malad in either direction.
The new Metro lines coming up on the Western Express Highway and the New Link Road will further aid in relieving traffic on the roads. The BEST bus transport is readily available in Malad, another perk of being located in Mumbai. The airports are not far either as it takes half an hour in peak traffic conditions to reach the domestic and international terminals. For travel by boats, there are ferries that have been gaining importance in travel to Gorai and other such locations.
Malad: Comparative Affordability
It is a fact that a house in Mumbai will set you back by a humongous amount of money. Even then, Malad remains a slightly affordable option when compared to the adjacent localities such as Goregaon, Kandivali or Powai. Goregaon is the IT hub of Mumbai and Kandivali has already touched its zenith for residential complexes which make these areas more expensive than the largely ‘market oriented’ location that Malad seems to be. Being the area known for its markets and the commotion that comes along with it deter people from residing here. Hence, a decent sized apartment that would cost over a crore rupees in Kandivali or Goregaon may be available for the price tag of 85-99 lakh rupees.
Malad was a group of villages such as Orlem and Malwani in the 1800’s, From the establishment of an entertainment company here in 1934, gradually citizens took notice of this locality and it developed into the gem it is today. Just as Malad West developed as an educational and commercial hub, the East has rising prominence in the residential sector. Malad East has emerged as a great option for buying residential properties since the west is generally costlier and Kandivali East and Goregaon East have been utilized by eminent developers to build townships which leave little space for further expansion. But the growth in Malad’s residential prowess has just started owing to the growth in employment and business opportunities in the area. The area known for its markets has slowly made a name for itself in creating a holistic environment for a wide range of jobs as well as housing.
Lower housing costs are therefore the biggest USP of Malad. Even for the above mentioned aristocrats there are a number of completed and upcoming projects that do compete in prices when compared to any other location in suburban Mumbai. So in all, from the rich to the poor, anybody can find a residential property for themselves that suits their needs keeping with the vibrant diversity one finds in Malad.
Malad: Amenities for the residents
From Bombay Talkies in 1934, Malad has regularly been evolving and adding new facilities. There is absolutely nothing that you cannot find in Malad. Hyper City, Infiniti and Inorbit are some of the malls in close proximity for the residents as all of these are located beside the New Link Road. The Aksa Beach is close by and there are multiple eateries, bars, cafes, restaurants and hotels to indulge in. There are quite a few schools and colleges in the area including a branch of the Ryan International School and the Atharva College which provides undergraduate courses in engineering, hotel management, business management and the like. There are a few hospitals in dispersed locations and the great connectivity ensures that the ambulances are not more than five minutes away from any portion of the suburb. The everyday markets are a plenty, and situated in numerous parts of the area. Most notable among them are the shops and roadside vendors just outside the railway station who sell everything from gym gloves to vegetables. Thus, when it comes to public facilities, Malad does have it all.
So if you feel comfortable in an area bustling with activity throughout the day and are looking for a range of employment opportunities in Mumbai, Malad will provide a good balance between the two. With the advent of the skyscrapers though, even the hullaballoo of the markets seem distant. In fact, if you live on the topmost floors of any tall building in Malad, there can be no better place in Mumbai to live in and enjoy life like it was meant to be.