Emergence of Dadar as a real estate hub
Emergence of Dadar as a real estate hub
Despite the emergence of Lower Parel and Bandra-Kurla Complex (BKC) as prominent commercial real estate locations, Dadar continues to be in a class of its own. This is on account of the favourable geographical location as well the superb connectivity it provides throughout the city.
On account of its historical popularity, the residential market property in Dadar has reached a saturation point. Owing to a lack of plots, there are only a few new projects that are scheduled for construction, leaving a significant number of projects for redevelopment within Dadar and its surrounding areas.
The reason Dadar has emerged as prime real estate has been the accessibility it provides for the city’s working professionals. Dadar railway station has the unique quality of being the only station that is common to both Central and Western Railway lines. Even neighbouring location of Wadala is an easy access point for people to commute from the Harbour line.
Besides railways, Dadar is also easily accessible by road for a large number of professional who are residing in Mumbai or even Pune for that matter. By reaching their journey in a single journey and travelling back in similar ease, the working location of Dadar eliminates the problem of changing of buses and trains for a large number of workers.
With its multinational presence, Lower Parel has become a major business district in Mumbai to such an extent that almost every available plot along the strategic Tulsi Pipe Road is being spoken about. While BKC remains a location of choice for all commercial office space occupiers, the forward linkage brought about by the frantic growth of Grade A office space development in Lower Parel has found its growth extension in Dadar. With the further completion of some more Grade A office projects, Dadar will join the queue for more such office spaces in Mumbai.
With the gradual emergence of Dadar as an advantageous commercial space location in Mumbai, one can anticipate the redevelopment of large number of existing buildings in and around that area. The same will also lead to increased demand for residential properties in Dadar and its surrounding areas.
