Tagged as the ‘Prince of Suburbs’, Mulund has a reputation that is unmatched by other suburbs of Mumbai. Located nearly 32km away from Mumbai in the north-east direction, this suburb has a rich history with records that dates back to the period of the Mauryan Empire. Muchchalind was the name given to this area in those ancient times.
Mulund was one of the earliest Mumbai suburbs to have been planned from scratch. Even today, the streets of Mulund look neat and orderly. As is the case with most of the suburbs surrounding Mumbai, Mulund East is separated from Mulund West with the help of a railway line that cuts right through both of them. Towards one side, Mulund West is bathed in the beauty of nature, and is made of the hills that form the eastern boundary of the Sanjay Gandhi National Park.
Mulund West is a fully developed region and one of the few suburbs to boast of a night-life. The facilities required by a modern, cosmopolitan population are available in abundance.
Mulund West is also known for being a suburb with some of the best educational institutes in Mumbai. The Dayanand Vedic Vidyalaya in Mulund West is one of the best Hindi medium high schools there, while the Friends Co-Operative Education Society School is known for its reputed commerce course.
A number of healthcare institutions are located here such as Hira-Mongi Navneet Hospital, Platinum Hospital, ESIS Hospital, and so on. Govardhan Nagar, Veena Nagar, Mulund Colony, and Vidya Vihar are some of the notable areas within Mulund West.
Connectivity and Transit Points
Mulund West is placed strategically between the booming cities of Thane (to the North) and Mumbai (to the South). The National Highway 3 (NH-3) passes through Mulund East, and is quite accessible to those living in Mulund West. Within the city limits, NH-3 is known as the Eastern Express Highway, and connects Mumbai to all of its eastern suburbs, as well as to Thane. The Brihanmumbai Electric Supply and Transport (BEST) Company started providing bus services across the Eastern Express Highway in 2009.
The Mulund Railway Station provides easy access to train services in Mulund West. This well-equipped station is connected to South Bombay and other remote locations such as Kasara and Khopoli. The Station Road provides direct connectivity to the railway station for those living in Mulund West.
The Chhatrapati Shivaji International Airport is conveniently situated 17km away, and one can travel there through the Jogeshwari–Vikhroli Link Road.
Comfortable and stress-free intra-city transportation is facilitated by a number of taxicab services. Lot of auto-rickshaws are available too. Public transport in Mulund West is not at all a hassle, thanks to several bus stops lined up on streets.
â— Nirmal Lifestyle Mall
â— Bombay Oxygen Corporation Limited
â— Platinum Hospital
â— Mulund College of Commerce
â— Kalidas Complex
â— Raja Industrial Estate
Factors for Growth in the Past
Mulund’s growth has been shaped effectively right from the time it was planned with a gridiron design in 1922. With a large population of educated middle-class residents, Mulund was also the place where a number of industrial units had been set up a few decades back. Over the course of the years, these factories were shifted out of the suburb to make way for shopping malls and luxury housing societies.
With the onset of globalisation in the 1990s, the landscape of Mulund West changed dramatically with commercial establishments such as supermarkets, world-class hospitals, and fashion boutiques popping up everywhere. The Eastern Express Highway played a good role in improving the connectivity to Mulund West, and had a positive impact on the real estate market of this area. The pleasant living conditions of the suburb have made it one of the most cherished localities to live in and around Mumbai.
Residential & Commercial Market
Residential Market Trends
With a bright future, Mulund West is steadily seeing a rise in property values. The property prices for apartments in the first half of 2013 were fluctuating between Rs 12,000-13,000 per sq.ft. By the first quarter of 2014, the prices had risen to about Rs 13,500-14,200 per sq.ft. The property prices of residential houses, on the other hand, which had been around Rs 12,000-14,000 per sq.ft. in 2013, slightly fell down to somewhere between Rs 11,500-13,500 per sq.ft. by the first quarter of 2014.
Commercial Market Trends
The prices of commercial properties in Mulund West, as can be predicted, are typically much higher than those of residential properties. The average property prices are in the range of Rs 14,000-30,000 per sq.ft., depending on the location.
Residents living in this locality have often complained about unregulated garbage dumping. There have also been reports of a few poorly-lit streets within the limits of Mulund West, leading to concerns about safety in the night.
Potholes are formed easily on the roads of Mulund West during the monsoon season, and end up becoming a hindrance for commuters on a daily basis. Despite several new roads, the traffic has become more congested in recent years.
Factors for Growth in the Future
Phase II of the Mumbai Metro line is already underway, and is meant to pass through Mulund, connecting it to Ghatkopar over a distance of 12km. Slated for completion in 2016, this development may go on to have a positive impact on the real estate sector in Mulund West.
Mumbai City Development Plan 2005-2025 has included the construction of the Goregaon-Mulund Link Road, which once completely developed, will increase the connectivity of Mulund West to other suburbs in the West.
Accor, a French hotel group, and Nirmal Lifestyle Group have signed a mutual contract in 2012, wherein they will be investing about Rs 1,500 crore in developing a commercial hotel hub in the area. With all these factors, real estate in Mulund West will surely get a shot in the arm.