Dombivli has metamorphosed into a bustling real estate destination in Thane on the back of affordable property prices, proposed infrastructural projects and smooth connectivity to critical areas in the Mumbai Metropolitan Region (MMR).
Over the years, Dombivli has evolved as one of the most promising real estate destinations in Thane. Infrastructural expansion coupled with commercial growth acted as the crucial growth propeller in the area. Lately, the locale has received substantial popularity, primarily due to soaring property prices in the city and the increased demand for affordable homes.
Availability of adequate land parcels at relatively lower rates than the other micro-markets in Thane has transformed Dombivli into an affordable hub of the city.
Dombivli comes under the Kalyan-Dombivli Municipal Corporation (KDMC) and is maintained by the same. It is located at a distance of 50 km from Mumbai. It is a small and cultural town with several eminent literarians, musicians, actors, authors and dramatists residing in the area. The locality boasts of numerous good parks, schools, medical facilities, markets, etc. making it a vibrant residential location. The micro-market has seen a substantial rise in the population in recent years, which reflects its increasing demand in the last few years.
Dombivli is the fastest-growing micro-market in the Mumbai MMR region. The locality has witnessed considerable growth in the residential real estate sector due to the upcoming infrastructural projects and excellent connectivity with Mumbai, Thane and Navi Mumbai. The residential real estate here is driven by end-users as well as investors as it offers a good mix of under-construction and ready-to-move-in projects. The average weighted capital prices in Dombivli during Apr-Jun 2020 range between Rs 5,800 and Rs 6,700 per sq ft.
Several major neighbourhoods of Mumbai can be easily accessed from Dombivli via the Kalyan-Shilphata Road, Agra Road and National Highway (NH) 4. Dombivli is also the busiest railway station on the central line in the Mumbai suburban railway network. Further, the City and Industrial Development Corporation (CIDCO) has planned to extend the Navi Mumbai metro rail to Kalyan, which would also fuel the residential growth in the area. The planned Line 12 (Kalyan-Dombivli MIDC-Taloja) of Mumbai Metro shall vastly improve the connectivity of Dombivli with Kalyan as well other nearby areas. The upcoming Navi Mumbai International Airport would be located 35 km from Dombivli.
Dombivli is known to be a popular industrial hub. Several small and large industries are concentrated around the locale. The Maharashtra Industrial Development Corporation (MIDC) has developed a big industrial complex around Dombivli which has boosted the employment opportunities in the area and also the capital and rental demand. Some of the other employment prospects near Dombivli include:
- Dhirubhai Ambani Knowledge City
- Millennium Business Park and IT Park
- Taloja MIDC
- Thane MIDC
The well-connected suburb has experienced considerable industrial and infrastructural growth in the past two decades, which has ensured steady real estate growth over the years. However, the proposed infrastructural projects in the area are expected to soar the realty market of Dombivli to new heights. Industry experts bet that the property prices in Dombivli would witness a price appreciation of about 20-25 percent over the next few years, making it the most ideal real estate destination for investment in Thane.