Emerging Market in MMR: Titwala
Titwala is a growing area in the neighbourhood of Kalyan and Dombivli in the Thane district. It also forms a part of Mumbai Metropolitan Region (MMR). The area which was a major tourist attraction for Mumbaikars is now rapidly becoming a residential area due to improving infrastructure and demand for affordable housing.
Location and accessibility
Titwala is located on the banks of River Kalu, which is a seasonal river. The locality is a small town about 23 kms from Kalyan and Dombivli. It has two main highways passing near it – the Kalyan-Ahmednagar Highway, which is about 7.5 kms away and National Highway-3, which is about 15 km away on the other side of Kalu and Ulhas river. The Titwala-Ambivali Road is an important arterial road within the locality. The Titwala railway station is the third railway station from Kalyan on the Mumbai-Kasara route of Mumbai suburban railway’s central line.
There are several local trains to the area with a frequency of 5-15 minutes. There are regular KDMT buses from Kalyan and Dombivli to the area. The nearest commercial centres are Bhiwandi at a distance of 25 km and Ambarnath which is at a distance of 23 kms.
Social amenities
Titwala was once a major attraction for pilgrims due to Siddhivinayak Mahaganapathi Temple. However, with more congestion within the city and demand for affordable housing, the locality has started growing into a residential hub. The area has some good wide roads. There are new local franchises opening up in the locality. There are also a couple of good schools such as King George High School and KMT Public School available here. Apart from these, there are a couple of parks and resorts such as Shree Ganesh Park and Ammu Water Park & Resort.
Real estate activity and trends
The area is already witnessing growth in residential activity as there are a number of apartments coming up in the locality. There are a few housing societies here such as Shree Ganadhish Cooperative Housing Society Ltd and Gayatri Dham Society. Shree Sai Construction is a prominent builder here. Other developers include Tharwani Infrastructures, Jai Malhar Developers and Shree Nivara Home Builders & Developers. The most common residential units available here are 1 and 2 BHK apartments. The typical size of a 1 BHK apartment ranges between 550-650 sq.ft whereas the size of a 2 BHK apartment may be between 750-915 sq.ft.
One can buy a 1 BHK apartment for a price of Rs. 9-20 lakhs and a 2 BHK apartment for a price of Rs. 18.75-28 lakhs. Property prices in the locality have seen a decent appreciation in the one and a half year. While property rates were approximately Rs. 2,300-2,500 per sq.ft during the first half of 2012, it went up to Rs. 2,700-3,700 per sq.ft during the second half of 2013.
The area is looking at a decent growth. Though there are developments required in the area with regards to civil and social infrastructure, the ongoing residential activity is a good indicator of the growth potential of the area. Hence, one can definitely look at Titwala as an investment option.
