Mumbai: More than 15 new projects currently underway in Kandivali East
According to the statistics with Major property portals, more than 15 new residential projects are scheduled to come up in the Kandivali East area of Mumbai in the coming years.
The residential projects currently underway at Kandivali East are at different stages of construction. Some of the projects will likely be delivered to the buyers by the end of this year; while the possession of residential units in the other projects will be handed over between 2015 and 2017.
Going by the information shared by the developers and brokers in the Kandivali East area, the increasing supply of residential property in the area is essentially an upshot of the overall re-development which is taking place in the locality, as well as the increasing preference of the homebuyers for purchasing residential property in the area.
As per one of the property portal ‘s quarterly report, the Kandivali East area – between (Apr-Jun 2014 quarter) – is the fifth most preferred locality to purchase a home in Mumbai. The area has retained this position as a preferential residential destination for the last six months.
About the homebuyers’ growing interest in the area, Sarjit Mann – owner of local broker firm Maadhyamm Real Estate – said: “Kandivali’s real estate market is driven by end-users. Families belonging to upper-middle-class segment and planning to buy a home in Western Suburbs prefer the locality.”
Source – The Times of India
India Apartment Index report, Kandivali East area, Mumbai, PropIndex, Residential Projects in Kandivali East
