Growing Demand for 1 and 2 BHK Property in Dadar East and West

Dadar is one of the oldest and most established locations in Mumbai. From connectivity to geographical placement, this region is considered the heart of Mumbai. Even though the property market in Dadar is near saturation point due to lack of plots, there are few reputed real estate developers who have launched residential as well as commercial projects in this area.

High demand for small units in Dadar East and west

According to real estate reports, demand for small units, mainly 1 and 2 BHK property in Dadar East and West continues to grow. This is due to the expansion of IT and BPO sector in this area. People working in these companies, looking for a small yet stylish living space near to their workplace is either buying or renting such properties in Prabhadevi-Dadar West in Central Mumbai and Worli in South Mumbai.

Dadar is home to many celebrities from the TV and film industry. Many industrialists also have their home in this part of Mumbai. Rate for commercial as well as residential property is quite high in Dadar as it is well connected to other parts of the city. Buyers or renters who wish to stay near to their shop or workplace are opting for small units, especially 1 and 2BHK flats in this part of the city. This has pushed the demand and rates for small apartments in Dadar.

What has made Dadar real estate market popular?

Connectivity to prime areas of Mumbai has made Dadar one of the most sought-after locations for property investment. Dadar railway station is the only station in the city that is common to Western as well as the Central railway line. Neighboring area Wadala serves as an access point from Harbour Line, making it convenient for people to commute.

Not just railways but this area is also easily accessible through roadways. No matter where you stay in Mumbai, commuting to and fro Dadar is quite easy and there is no need to change trains and buses. Even the domestic airport of Mumbai, which is located in Santacruz is merely 8.5 kilometers from Dadar. Not just residential projects, but commercial projects are also in popularity. Dadar has several Grade A business spaces of Mumbai.

Re-development in Dadar

Besides development of new Mumbai properties, redevelopment is also taking place within Dadar and its surrounding areas. In 2014, residents of old buildings in Dadar East had heaved a sigh of relief when the Bombay High Court had directed the BMC to allow redevelopment of structures that were named in proposed heritage list in 2012.

The list proposed to change the structures from Grade III to Grade IIA, giving the buildings ‘heritage’ tag. This halted construction work, causing distress to the inhabitants as they would have had to take permission of heritage committees for any redevelopment or repair work in the buildings. But with the BHC allowing redevelopment, now there is no need for residents to wait for heritage committee’s approval.

Summary

Besides development of new Mumbai properties, redevelopment is also taking place within Dadar. Demand has also grown for 1 and 2BHK property in Dadar East and West.

Shruti Decosta is a real estate blogger who loves to write about upcoming residential projects in Mumbai, Pune, Nashik.