Across key residential markets of India, micro-markets are thriving thanks to proximity of IT hubs or business parks, upcoming airports and due to improved infrastructure. These micro-markets offer home buyers not only affordable options but also good social infrastructure. This week Outlook Money’s Residential Realty in association with Magicbricks brings to you four important micro-markets in Bangalore, Gurgaon, Navi Mumbai and Mumbai that have developed as prominent residential markets.
Electronic City, Bangalore
Electronic City is a prominent technology hub of Bangalore, with presence of many tech majors, industrial units and residential complexes. It caters to a large workforce across several of its IT parks and corporate campuses. HP, Biocon, Siemens, and Wipro are some of the prominent firms with offices here. The locality has a number of multi-storey apartment and villa projects such as GM Infinite E City Town, Prestige Sunrise Park, and Ajmera Infinity.
The locality boasts decent connectivity through Electronic City Flyover, Hosur Road, and NICE Ring Road. The under-construction Line 3 (RV Road-Bommasandra) of Namma Metro Phase 2, which is expected to be completed by 2023, will also bring metro connectivity here.
Electronic City is a self-sustaining locality comprising good social infrastructure with several educational institutions, healthcare facilities, retail shops, restaurants and banks situated in and around the vicinity. Some of these include DPS Electronic City, Sorsfort International School, Springleaf Hospital, and Vimalalaya Hospital. In addition, the popular entertainment hubs of Gopalan Innovation Mall in JP Nagar and Forum Mall in Koramangala are situated within 30-35 minutes of the locality.
Dwarka Expressway, Gurgaon
The micro-market of Dwarka Expressway comprises of the various sectors of Gurgaon located on either side of the Dwarka Expressway road. The Sectors are numbered 99 to Sector 113 are in various stages of development. The micro-market has mostly vertical development consisting of multi-storey apartments.
The locality has connectivity to the major employment hubs of Gurgaon such as Unitech Infospace, and important business parks situated in Udyog Vihar, Cyber City and offices along NH-48. Indira Gandhi International Airport is 25 kms from the area. Popular malls which are accessible from here include Ambience Mall, Cyber Hub, MGF Metropolitan Mall, and City Centre Mall.
Currently the development in the area is impeded because the Dwarka Expressway is still not completely constructed. The region’s connectivity within Gurgaon and Delhi will improve significantly once Dwarka Expressway gets operational. Moreover, the upcoming 3.2 km Central Peripheral Road would act as a vital link between Dwarka Expressway at Harsaru and Southern Peripheral Road at Narsinghpur.
Mira Road, Mumbai
Situated on the northern outskirts of Mumbai, Mira Road has emerged as a popular residential destination owing to the affordable property options and decent social infrastructure. Placed along Mira-Bhayandar Road, the locality is dominated by multi-storey apartment projects. Some notable projects in the locality are Kalpataru Srishti, Hubtown Gardenia, JP North, Lodha Aqua, and Unique Aurum. The locality enjoys decent physical connectivity with the rest of Mumbai Metropolitan Region (MMR) through the Western Express Highway, NH-48, Ghodbunder Road and through Mira Road Railway Station. Also, the under-construction Line 7 of Mumbai Metro (Dahisar East - Andheri East), is expected to be completed by 2020 and would offer metro connectivity to Mira Road since it is adjacent to Dahisar East.
The locality is also well-connected with several business centres and industrial estates situated across the localities of Malad, Goregaon and Andheri. Popular shopping malls here are Maxus Mall, Thakur Mall, Rassaz Shopping Mall, all of which are under 15 mins from the locality.
Ulwe, Navi Mumbai
Situated adjacent to Panvel Creek, Ulwe is a prime residential hub in Navi Mumbai. The upcoming Navi Mumbai International Airport is located here and is just 10 kms from the sectors located in Ulwe.
The locality has decent connectivity through NH-348A, JNPT Road as well as having Kharkopar Station and Bamandongri Station on the Nerul-Uran Suburban Rail Line, which connect it with Navi Mumbai’s prominent localities of Panvel, Seawoods, CBD Belapur, Kharghar, Nerul and Vashi. The locality is still in the process of development and has a blend of developed and developing areas located across the various sectors here. Most of the residential development here is in the form of multi-story apartment projects.
In terms of social & retail infrastructure, Ulwe’s residents mostly depend on the nearby areas of CBD Belapur, Seawoods, Nerul and Panvel. International Infotech Park, Haware Fantasia Business Park, Electronic Zone, Millennium Business Park, and Reliance Corporate Park are some of the notable job hubs with connectivity to the locality. Also, the upcoming Navi Mumbai Special Economic Zone is expected to generate employment opportunities in the region and improve real estate demand. The famous malls of Seawoods Grand Central in Nerul and Inorbit Mall in Vashi are accessible within 20-25 minutes from Ulwe.
