One of the earliest planned areas in the Mumbai region, Mulund is also known as the ‘Prince of Suburbs’ in Mumbai. Located at the intersection of Thane and Navi Mumbai, Mulund has been divided (in theory) as Mulund East and Mulund West by the real estate development industry. Also described as a micro-market by real estate developers, Mulund is connected by road networks and railway systems. Residents of Mulund, investors that buy flats in Mulund and visitors can access the area through a bus, private vehicles, slow and semi-fast local trains, auto rickshaws, and shared taxis.
Mulund is surrounded by the areas of Bhandup, Nahur, Powai, and Wagle. Residents and tenants of flats in Mulund gain easy access to the Eastern Express Highway and Navi Mumbai through the Mulund Airoli Bridge. This connectivity is critical because it empowers residents to access a variety of commercial locations situated far from Mumbai city. The Mumbai International Airport is located at a reasonable distance of 14 kilometres from Mulund; this ensures that business travellers and leisure seekers residing in flats in Mulund have seamless access to commercial air services.
In addition, metro rail services may soon serve a long stretch that includes Wadala, Ghatkopar, Mulund, and Kasarvadavali. Further, residents that need access to the western suburbs of Mumbai can use the Mulund-Goregaon Link Road for rapid entry to said suburbs.
Mulund is seamlessly connected with IIT Mumbai, the special economic zone located in Andheri, the various IT parks situated in Vikhroli, and the special economic zone at Powai. These forms of efficient connectivity ensure that flats in Mulund remain a destination of choice for young families and intelligent investors in Mumbai’s real estate industry. Workers in the information technology sector can lease flats in Mulund with a view to shortening their commutes to their workplace. In time, these tenants may choose to invest in residential units located in the Mulund area.
The above factors have encouraged real estate developers to undertake the construction of residential projects in Mulund. Observers in the industry note that the Mulund area has a high potential for high-rise constructions and luxury residential units aimed at the average home buyer. The high rate of appreciation of real estate assets and flats in Mulund ensures that the area will attract a large number of real estate investors. Some top developers such as the Lodha Group, Oberoi Realty, and Tata Housing are working on various projects centred in the Mulund area.
Premium housing projects underway in Mulund include HDIL Whispering Towers, Marathon Eminence, TATA Housing Aveza, and Soham Eastern Crest. These projects, when complete, will make flats in Mulund a preferred residential neighbourhood for residents, owners, tenants, and investors alike. Sources in the real estate industry note that these developments may trigger a constant rise in property prices in Mulund and its adjoining areas in the future.