Palghar and the nearby Boisar area in Mumbai Metropolitan Region (MMR) are witnessing rapid real estate development and developing at a fast pace. Palghar is the first developed locality after Virar and it will soon be a new administrative district as the government plans for a two-way split of the Thane district. This hints to an increase in the scale of economic activity in Palghar, creating new jobs and industrial hubs. Experts believe that this development is likely to increase the government’s efforts to enhance infrastructure and other civic amenities.
As part of the initiative of infrastructure driving the locality, the Western Railways has given an undertaking in the Mumbai High Court that the western railway line is to be extended from Virar till Dahanu by March 2013. This will reduce the travel time considerably thus making it much easier for people to commute to and from Palghar.
The ongoing capital values in Palghar are from Rs 2,500 to 3,200 per sq ft. Naushad Panjwani, Senior Executive Director of Knight Frank India points out, “Palghar has witnessed a good absorption based on affordability factor. The average unit size is available anywhere between 500 -700 sq. ft here and with a As on date there are total 15 live projects (having 11,000 units) which are scheduled to be delivered during 2012 and beyond.”
Naushad Panjwani added that the main occupation of the people of Palghar is employment in factories and farming. Apart from the government promoted MIDC situated at Tarapur, Palghar is also home to a number of industrial townships where there are many small scale industries such as engineering, pharmaceutical, plastics, textile, notebook industries, he said. Two prominent industrial townships in the region are Genesis Industrial Township and Dewan & Sons.
There are many government offices like the Court, police station, sub-registrar office, Taluka Inspector of Land Records, etc located in Palghar. In addition, there are many banks, schools and colleges in the vicinity too. The locality also boasts of shopping centers, cinemas, restaurants and hospitals. Palghar is home to two of the large dams – Manor and Devkhop – that supply drinking water to the city of Mumbai which makes it surplus in water. In terms of connectivity, Palghar is also accessible by the Mumbai- Ahmedabad National Highway (NH 8).
“While other locations are being looked upon as surburbs of the future, Palghar is in an advanced stage and is definitely heading to be a satellite township with a 50,000 plus strong population,” says P.S. Jayakumar, MD of Value & Budget Housing Corporation (VBHC). Focusing on sustainable features such as solar water heating, biogas plant, water harvesting and terrace cultivation, VBHC always looks to focus on these aspects.
A number of players are already setting up affordable projects in the region including HDIL with its Paradise City in the West, Sathya Lifestyles, Poonam Park.
With these developments in place, Palghar proves to be the leading avenue in western suburbs for setting up new industry, townships and business expansion purposes.
Buy/Sale Properties in Palghar Mumbai