Mulund – Rapidly changing the Suburban Skyline

Mulund is a very fast developing suburb in the north east part of Mumbai, with its ultramodern infrastructure and amenities; it rightly claims to be the "QUEEN" of central suburbs. It is also the "GREENEST" suburb of Mumbai because of its extensive and soothing green cover. Mulund East area is predominantly residential and is home to numerous luxurious complexes located in serene localities whereas the Mulund West area encompasses not only residential complexes but also several business centres and plush shopping malls. Mulund at present is a part of a real estate phenomenon that features enhanced living and caters to those who want to lead their life in a grand manner. Never seen before towers and townships are being constructed that will change the way real estate is perceived in this part of the city. It is a planned suburb that was designed by German architects Carter and Brown way back in 1922. Hence it’s quite similar to Chandigarh with its wide roads and ample greenery, besides being ideally located on the foothills of the Mulund hills. Describing the growth story of Mulund, Mr. Rajat Rastogi, Executive Director, Runwal Group said, “With the rapid growth of upmarket towers, retail outlets and commercial establishments, Mulund is changing the suburban skyline. Numerous tall towers have marked their presence and more are coming. The infrastructure developments too have played their role in seamlessly connecting Mulund to locations such as Navi Mumbai, Thane, South Mumbai etc. Soon Goregaon too will be added to the list. Emergence of a vibrant lifestyle in the region along with the presence of top-notch brands, malls and restaurants have provided the home buyers with access to a high street living. Apart from all this, the location has been surrounded by beautiful green belts. These factors have transformed Mulund into an enviable mix of convenience and leisure making it an ideal destination for those looking to be a part of the buzz, yet have the privilege of green tranquil surroundings.” Mulund, in fact, is one of the busiest railway stations on the central suburban rail network. With Infrastructure-based projects like Mumbai Metro – Line 4 flourishing in the vicinity along with the proposed construction of Goregaon Mulund Link Road, property prices in Mulund are bound to shoot up. These projects when materialized will enhance connectivity and lead to more appreciation in property rates. Mulund is nestled alongside the foothills of the Sanjay Gandhi National Park with easy access to the Eastern Express Highway. It offers easy accessibility to Navi Mumbai through the Mulund Airoli Bridge, Thane-Belapur Road and Thane – Panvel Rail route. Speaking from the demand perspective, Mr. Kunal Chheda – Vice President, Corporate Affairs, The Wadhwa Group said, “Multi-storied towers and complexes have become a norm in Mumbai’s suburbs and Mulund is at the heart of this development. As compared to the more affluent property destinations of Mumbai, Mulund's residential market is still quite reasonable and is therefore seeing considerable demand. Mulund’s value proposition is instantaneously enhanced with the seamless connectivity and easy accessibility to social infrastructure like schools, malls, hospitals, restaurants, parks, etc. Located close to the boundary of Navi Mumbai and Thane, this suburb has seen synchronised growth in both residential and commercial sectors. Despite rapid growth in its residential and commercial sectors, it continues to retain a serene atmosphere that appeals to home buyers. With Mulund providing an all-around lifestyle and a holistic living development, one need not go out of the way to live a comfy life.” Mulund is also well-connected with IIT Mumbai, Andheri SEEPZ, Vikhroli IT parks and the SEZ at Powai. LBS Road is today lined with major shopping malls R-Mall and Nirmal Lifestyle; also along the link road, there is D-Mart, popular high street in the form of R-Galleria and the world-class Fortis Hospital. Mulund is also blessed with good infrastructure, better transport facilities (than most other eastern city suburbs) and competent education and medical facilities, making it an ideal residential option for those looking for an upmarket lifestyle. Mulund is also blessed with a number of public parks - Johnson & Johnson Park, Dr. Chintamani Deshmukh Garden, Sardar Pratapsingh Garden, Kalidas Gardens, BMC Garden, etc to name a few. Mulund is witnessing tremendous growth in terms of upcoming and near-completion projects by various developers. The real estate price graph has been on the rise almost consistently from the year 2013 to 2019. The prices have doubled and in some cases, almost tripled in the past six years.