A fast-growing locality in Mumbai, Chandivali is located between Saki Naka and Powai Lake. Chandivali is a preferred destination in terms of the real estate market due to the presence of a large number of IT professionals working in Mumbai. Surrounded by the hillocks in Powai and Powai Lake, the locality has a calm environment.
The locality is close to Powai, a posh neighbourhood to the north-east of Mumbai. Chandivali is not only a residential hub, but it also has a thriving commercial market. The locality has a few supermarkets and the well-known ones among them are Tanish Supermarket and Jalaram Supermarket.
Apart from supermarkets, Chandivali also provides the residents with numerous educational institutions, banks, and hospitals. Some of the notable educational institutions include Sinhgad Institute of Business Management, Pawar Public School, and Bombay Scottish School. Chandivali has good medical facilities with hospitals and clinics like Nahar Medical Center, Care & Care Maternity & Nursing Home, Drishti Eye Clinic, and Anushka Polyclinic finding their home in this area.
Connectivity and Transit Points
Chandivali has good connectivity by road and rail to other localities of Mumbai. Being located close to two highways, Western Express Highway and Eastern Express Highway, the area is strategically located. The BEST buses operate from Chandivali Junction to key localities like Marol, Mulund, Wadala, Ghatkopar, Bandra, Borivali (East), Andheri (East) and other prominent localities of Mumbai. The prominent bus stops in the area are Chandivali Studio, Tunga Village, Shipping Corporation, and Sinhgad College.
Kanjurmarg Railway Station and Vikhroli Railway Station are the two railway stations close to Chandivali, located 5 km and 6 km away, respectively. Mumbai's main railway station, Mumbai Central, however, is about 25 km away.
Chatrapati Shivaji International Airport, on the other hand, is a lot closer, at 9 km from the locality. The residents of the locality also commonly use auto-rickshaws, and taxis to commute to other places. The closest metro station to Chandivali is the one at Saki Naka, which falls under Line 1 of the Mumbai Metro.
â— Sadguru Complex
â— Regency Park
â— Cafe Coffee Day
â— ICICI Bank
â— Chandivali Studio
â— Powai Lake
Factors for Growth in the Past
One of the main factors for growth of the locality is its proximity to IT commercial and hubs of Powai and Andheri East. Employees of these hubs prefer to live in Chandivali as it is close to their offices, and the area has a quiet atmosphere compared to other areas of Mumbai. Chandivali also has good social infrastructure and most of the amenities are easily available.
The locality is also a favoured destination for many because of the good connectivity that it offers. Property prices in this locality are also much cheaper than localities in the IT hubs making Chandivali a conducive place to reside.
Residential & Commercial Markets
Residential Market Trends
Residential property in Chandivali mainly comprises apartments, as there is shortage of land. Real estate prices in Chandivali are much more affordable than localities like Andheri East or Ghatkopar. This has attracted young professionals and government employees alike to purchase properties in this locality.
Residential property prices in Chandivali have seen an up and down pattern in the past few years. The Q2 (2014) sale prices of multi-storeyed apartments in the locality ranged between Rs 16,600 and Rs 18,250 per sq. ft., while the rent for multi-storeyed apartments in the locality was around Rs 37 per sq. ft.
Commercial Market Trends
As a growing locality, the demand for commercial space has increased in the last few years, and a large number of new projects have cropped up in the locality. The sale prices of commercial office spaces in Chandivali range between Rs 11,000 and Rs 22,000 per sq. ft.
One of the biggest issues for the residents of this locality is the absence and lack of bright street lights. The ones already present have lower lux levels than the prescribed limits and this increases the chance for criminal activities and thefts.
Factors for Growth in the Future
With many social and physical infrastructure projects lined up, the place is all set to enjoy the benefits of being a residential as well as a commercial hub.
The completion of Mumbai Metro Rail will be an important growth factor for Chandivali. Even though Chandivali does not have a metro railway station of its own, Saki Naka, a neighbouring locality located just 1 km from Chandivali does, and provides greater connectivity to the region. This, in turn, will boost the real estate market in the area.