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Shilphata is the new Investment destination
7 August 2015
Top 20 Points
- Shilphata, a locality situated at the junction of old Mumbai-Pune road (NH-4) and Kalyan-Shilphata road is being touted as the next ‘Ghodbunder road’. Once developed, it might also serve as the gateway of Navi Mumbai for people travelling from Thane, Dombivali, Kalyan and Badlapur.
- Currently, 70% of the consumers of these properties are investors anticipating significant capital appreciation in the coming 5-10 years. Though the number is less, end-users are those who have their offices in Koper Khairane, Turbhe and other areas of Navi Mumbai.
- Capital values in the locality range from Rs 4,600-5,400 per sqft. One can find 1, 2 and a few 3BHK apartments in the price range of meagre Rs 27-70 lakh with area varying from 600-1,200 sq ft. It is definitely a win-win situation for buyers since they can avail flats at affordable rates as compared to Navi Mumbai and Thane. Amenities being the same, maintenance cost in Navi Mumbai (Rs 3-4 per sqft) is higher than Shilphata which is between Rs 1-1.5 per sq ft.
- The proposed monorail project between Mahape and Kalyan, which will pass through Shilphata, is expected to ease commuting and may also impact the property prices in the area.
- A new flyover which is expected to be done within a month's time will soon aid motorists travelling to Kalyan, Dombivli and Ambarnath. It’ll be convenient for them to bypass four traffic junctions along Shil phata-Mahape Road in Navi Mumbai,
- The Govt. of Maharashtra has entrusted the work of Four laning & improvement, O&M and toll collection of the Bhiwandi-Kalyan-Shil Phata Highway on BOT basis to MSRDC vide Govt. letter dated 31st January 2005. For the pre-tender services including EIA of the proposed four laning and improvement of BKS Highway, MSRDC appointed M/s Consulting Engineering Services (I) Private Limited in Joint Venture with M/s Ernst & Young Pvt. Ltd.
- MMRDA Chief Engineer Sharad Sabnis said, “We are going to construct a six-lane bridge passing over Ulhas creek. This will be very helpful for people travelling between Kalyan and Mumbai-Nashik highway.” Construction on the bridge, whose length will be 380.60 metres, is expected to begin by April.
- MMRDA has proposed to build a bridge from Ghatkopar side and terminating at Koparkhairane which will directly benefit the residents of Kalyan/Shil Phata road and the upcoming Lodha Palava city.
- Shilphata acts as a gateway to Navi Mumbai for people coming from Thane and Kalyan-Dombivli areas. There are regular buses plying this area from Thane and Navi Mumbai.
- Minister of State for Urban Development Ranjit Patil said that a two-kilometre-long elevated rail route connecting Kalwa near Thane to Airoli in Navi Mumbai had been taken up with this in mind. He further added that a Metro network connecting Thane to Navi Mumbai (Taloja to Shilphata (Kalyan) had also been planned!
- The City and Industrial Development Corporation (CIDCO) has planned to extend its Belapur-Taloja metro rail service up to Kalyan and Ulhas Nagar. This is expected to give a big boost to the economy as well as real estate around Kalyan. MMRDA has also planned to lay down a road networks including a 29 km Kalyan ring road in Kalyan region.
- Shilphata junction, also known as gateway to Navi Mumbai, is a crucial junction, which is used by around 50,000 heavy and light vehicles on regular basis. It connects a large number of major roads leading to Navi Mumbai, Taloja, Panvel, Pune-Goa-JNPT and Thane. However, the junction has become a nightmare not only for the local residents, but also for the motorists due to rise in density of heavy vehicles.
- “Shilphata has become a congested pocket where vehicles enter Navi Mumbai from Panvel, Taloja, Goa, Pune and Vice Versa. Considering the gravity of the problem it was consensually decided to construct the flyover over there. A major portion of our official formalities is already completed, and the construction will start within next six months,” says an MMRDA official.
- Shilphata’s strategic location has played a key role in its growing popularity among home buyers and developers. The locality acts as a junction connecting Navi Mumbai, Kalyan-Dombivali-Bhiwandi, Taloja-Panvel-Pune-Goa-JNPT and Thane. “NH-4, Shilphata-Mahapade road, Kalyan-Shilphata road and Pipeline road have given easy connectivity to these areas,” says Kishore Mahawar, a local broker and resident.
- According to Magicbricks, over Seven new projects are active in and around Shilphata. “Both renowned and small developers have their projects here. While some of them have already been given possession, majority of them are under-construction with possession expected to be in 2-4 years,” says Mahawar.
- While road connectivity of the area is intact, it lacks direct rail connectivity to Mumbai. The closest railway station, Nilaje, is situated 6-km from the area. Commuters have to change from Kopar Khairne to travel further to Mumbai.
- The proposed flyover will ease the traffic congestion at Shil Phata junction that is also a converging point of vehicles from Thane, Kalyan, Navi Mumbai and Panvel. Therefore, even a moment-long traffic jam at Shil Phata has a wide impact on all the other roads with all vehicles coming to a grinding halt. In order to get rid of the traffic problems on the Thane-Panvel highway at one side and the Thane-Belapur road on the other, MMRDA conceived the idea of developing flyovers at Shil Phata and Mahape" informed Kawathkar.
- There is a proposal by the MMRDA to have a bridge beginning from Ghatkopar side and terminating at Koparkhairane which will directly benefit the residents of Kalyan/Shil Phata road and the upcoming Lodha Palava city.
- Another factor driving the demand is the availability of industrial belts and developing infrastructure around this area. Both Kalyan and Dombivali have an industrial belt up to Badlapur. This provides very good employment opportunities for people residing around the region.
- The Government’s initiatives towards the sector have brought several regulations and the market is already gaining momentum because of the funding of several projects coming its way. By the early quarters of 2015, Common Floor is anticipating the overall market to bounce back.