Affordable Option For Working Professionals Housing Needs: Ambernath MMR
With the rapid industrialization of Ambernath-Badlapur MIDC area and the excellent central railway line connectivity between Thane, Kalyan and Ulhasnagar, working professionals of these micro markets see Ambernath as an affordable option to meet their housing needs. Thus, Ambernath is transforming into one of the major affordable housing destinations of MMR.
The city has an excellent connectivity to Kalyan via Maharashtra SH 80 and Thane via NH 160. It is connected to Pune via Bengaluru – Mumbai Highway which is less than 3-hour drive. Ambernath has a local MMTS station on the central railway line. Chhatrapati Shivaji International Airport is a 1.5-hour drive from the city (50 km away). The proposed Navi Mumbai Airport will be a just one-hour drive from Ambernath via Badlapur-Katai road and NH 48.
Since 2013, around 17,300 new residential units have been added in this micro market. Of this, more than half of the launches (around 57%) were added during 2015-17 and an additional 33% came in 2013-14. Huge employment opportunities, wide industrial presence and availability of land has triggered residential real estate growth post-2013.
Ambernath’s real estate performed well in terms of supply and capital value appreciation. In 2017, new launches dropped by 55% as compared to 2016. This was primarily due to ambiguity post RERA implementation and the overall burden of existing unsold inventory in the market (around 8,600 units as of Q1 2018).
Nearly 34% (around 6,000 units) of the total supply since 2013 is ready-to-move-in stage and nearly 15% units (around 2,600) will enter the market in less than 12 months. This gives a wide range of options for the home buyer. Around 40% units (~7,000) of the total supply is likely to enter the market within 12-36 months. Ambernath is a definitive affordable housing destination of MMR, with close to 95% of the total supply falling within the Rs. 40 lakh price bracket.
Source Link- https://www.indiainfoline.com/