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Titwala grows as an affordable real estate option

Comments(2) Sub Category:Mumbai,Real estate trends,Residential Real Estate Posted On: Dec 31, 2012

Titwala which is a small town located near Kalyan, Thane is fast growing as an affordable real estate destination. The locality offers 1 BHK apartments at a minimal cost of Rs 17 lakh.

The area has witnessed 100% price appreciation in the last three years and the apartments in Titwala today cost double at what they were launched initially. Still, they are in an affordable range.

Also, investors as well as seekers are queuing up to the area, who can not afford properties in neighbouring areas like Bhandup, Kalyan, Vikhroli, etc. The mid income group in Mumbai who are entitled to a maximum home loan of Rs 15-20 lakh are eying this area, even though infrastructure is in the developing phase.

The locality is well accessible to all the main areas in Mumbai. The railway station is located just 2-3 kms away.

Some of the well known developers in Mumbai have developed in this locality such as Regency group, Tharvani group, Abhilasha Group and Mehta Group among others.

In the last three years or so, because of capital appreciation, the locality has witnessed a sudden demand. One of the reasons for high capital appreciation is the gap between demand and supply, where demand increases day by day but supply is still unmet. Also, the size of the units which are now being sold vary from 600-640 sq ft priced at Rs 2500-3500 per sq ft.

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