Wadala May be Mumbai's Next CBD

Q: Wadala may emerge as the next central business district (CBD) in Mumbai. What is the reason?

Vasanth,

26th August 2013

Locality Review in Mumbai

mumbai real estate

central business district

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Replies (5)

What is the concept of central business district?

Vasanth,

26th August 2013

Comment

A Central Business District is a region of a metropolitan area consisting of residential, commercial, retail, medical, government and financial institutions as well as facilities for entertainment and art such as stadiums, malls and museums. There are about eight Indian companies and four global consultancy firms that have shown interest in transforming Wadala to an international business and financial hub.

Suresh Khanna, Mumbai

26th August 2013

How is the real estate impact in Wadala?

Vasanth,

26th August 2013

Comment

A central business district generally intends to bring in a walk-to-work concept. A CBD essentially consists of major commercial hubs and residential hubs along with other social amenities such as hospitals, malls and education institutions. With a walk-to-work concept, there will be a high demand for residential properties in the area, and with high demand, there will be an increase in property prices. Wadala already is an expensive area due to the amenities and its proximity to major highways as well as localities such as Dadar and Parel.

Jerome Fernandez, Mumbai

26th August 2013

The capital value in Wadala is currently between Rs. 18,200-21,450 per sq-ft for an independent house and between Rs. 19,800-20,500 per sq-ft for multistorey apartments.

Sanjana Jain, Mumbai

26th August 2013

Wadala has an excellent connectivity to surrounding areas due to the upcoming monorail. It is also just about 3 km from the Eastern Freeway, 7 km from National Highway (NH-3) and close to the proposed Mumbai Trans-Harbour Link which connects Sewri to Nhava-Sheva. The Chhatrapati Shivaji railway terminus is about 25 min away from Wadala whereas the Mumbai International Airport can be reached in about 40 min (21 km). Mumbai's BEST bus service has its Wadala depot here. Hence, Wadala has buses to different localities across Mumbai. Wadala's train station lies on the Harbour-Line of Mumbai's railway network.

Suresh Khanna, Mumbai

26th August 2013

Comment

How is the location and what are the amenities in this area?

Vasanth,

26th August 2013

Comment

Wadala, once considered a central suburb is now within Mumbai city limits. It has Dadar to the west, Matunga to the northwest and Sewri to the south. Wadala was one of the original seven islands which were joined to form the island city of Mumbai.

Sanjana Jain, Mumbai

26th August 2013

Wadala already has various amenities such as educational institutions, malls, entertainment and religious institutions. Some renowned institutions here are the Veermata Jijabai Technological Institute (VJTI), a branch of Sahara India Pariwar, University Institute of Chemical Technology, and Dr. Ambedkar Commerce and Law College. Wadala also is home to Aditya Jyot Eye Hospital, one of India's most renowned eye hospitals. The locality also has the world's largest IMAX dome theater.

Jerome Fernandez, Mumbai

26th August 2013

With the first two CBDs nearing saturation, the MMRDA decided to acquire 1.84 crore sq-mt of land and convert them into major business centres along with rental housing projects and other facilities. BKC was the first of them and Wadala is expected to be the next.

Harmeet Kaur,

26th August 2013

Comment

A second reason for looking at a new CBD is the dwindling land resources at the Bandra-Kurla Complex. Wadala has been considered as a potential substitute for BKC by MMRDA. Connectivity to other areas in Mumbai too has been an important factor for considering Wadala as the next CBD.

Kunal,

26th August 2013