Infrastructure development projects have often had a significant impact on the real estate micro market of Mumbai, which is largely looked upon as an infrastructural challenged City. Wadala is one such example of multiple infrastructure initiatives. It has great connectivity by rail and the upcoming monorail which allows easy and hassle-free commuting.
All the railway stations - Dadar, Sion, and Matunga are close by with the travel time to commute between 20-25 minutes. The area primarily comprises of residential complexes and is popular for rented accommodation. Infrastructure projects, such as the Chembur-Wadala monorail and the Eastern Freeway, along with the Santacruz-Chembur link road and Anik-Panjarpol Link Road, have also led to an increase in residential demand and has pushed up the property values over the last few years. Adding to the value of infrastructure, it comprises of a large number of old temples and university campuses. Wadala has undergone a significant transformation over the last decade, from largely being an industrial zone to an upcoming residential market and is expected to witness heightened activity in the coming years, driven by planned infrastructure developments it has enticed interest from major real estate players who have launched their project in the premium segment because Wadala provides a lifestyle shift to people who are willing to relocate from south Mumbai and seeking to upgrade their lifestyle, finding Wadala as an economically viable and an convenient option because of improved connectivity through the planned rollout of Phase-II of the monorail which will help improve connectivity of this area with Lower Parel and reducing the travel time by 20-25 mins and it’s close proximity to Eastern freeway. Over the years it’s prominence as a residential destination has risen because of its proximity to Bandra-Kurla Complex (BKC).The Mumbai Metropolitan Region Development Authority (MMRDA) also has plans, to develop this region as a commercial zone (by shifting the truck terminal). A decade ago the property prices at Wadala were as low as Rs 2,800 Sq.ft. Today the property prices here range between Rs 19,000-21,000 per sq. ft. which means that residential property prices in Wadala, have appreciated by 133 percent over the last half-decade. The major reason for this is because there is a lot of development in this region is that Wadala has very good connectivity to all parts of Mumbai and is centrally located and has good infrastructure development. Notable Development in this region is five gardens which is one of the oldest and most beautiful gardens of Mumbai. It is also home to a former world's largest IMAX dome theatre. One of the most historic and reputed educational institutes in this region like Dr. Ambedkar College of Commerce & Economics, Veermata Jijabai Technological Institute, Vidyalankar Campus (Engineering (UG & PG), Science and Management Colleges).On the Retail front Star Mall, INOX mall, are few of the prominent malls which are in the close proximity to this Region. Wadala also houses some of the renowned Hospitals in this region which are BPT Hospital and Aditya Jyoti Eye Hospital.
Although there are only a few clubs and multiplexes in the area, you can easily access nearby locations like Dadar and Chembur, for more options as it has good road and railway connectivity and thus it is the most preferred residential destination for home seekers.
