One of the first planned suburbs of Mumbai, Dadar realty market is today touted as a favourable choice among the middle and luxury homebuyer segment of the city. In its early days, Dadar is known as lower Mahim, but with fast pace infrastructure development and smooth connectivity, the property market of the locality has now become hosts to luxury and plush properties.
Take a look at other reasons that has acted as a growth driver of this locality:
Dadar enjoys smooth connectivity vial rail and road network. The locality acts as a major railway terminus for both Western and Central lines of the Mumbai Suburban railway. The Mumbai Metro Line 3 also passes through this locality.
As per the Mumbai’s Development Plan 2034, the Dadar railway station has been chosen for a revamp with development of underground subways to decongest the flooding station.
Besides this, Dadar also has its bus depot from where one can commute to areas like Pune, Panvel and Navi Mumbai. Apart from this, it is also well-connected to surrounding localities like Matunga, Elphinstone Road, Wadala, Parel, and Mahim.
In recent years, Dadar has seen many infrastructural developments that have added many feathers to this locality. The area is home to many renowned institutions, schools, hospitals and entertainment centers. The famous ones include Veermata Jijabai Technological Institute, St. Paul’s, Ramnarain Ruia College and Ramniranjan Anandilal Podar College of Commerce and Economics.
It is also surrounded by popular shopping markets such as Nakshatra Shopping Mall, Star Mall, Hind Mata Market, Cosmos Platinum Mall, Departmental Stores and much more.
Another center of attractions in and around Dadar is Shivaji Park, Worli – Bandra Sea link view, Dr.B.R.Ambedkar Memorial (Chaitya bhoomi), and Mayor’s Bungalow.
Under the proposed infrastructural development, Dadar has also been assigned as a prominent station under Line 1 of the Mumbai Monorail.
Real Estate Market
The real estate market of Dadar is a mix of middle and luxury segment group. Many projects are catering to affordable, mid and hi-end segment that is quite popular amongst homebuyers. However, when it comes to premium category, most of the buyers prefer to invest in this area. In recent years, many such projects are developed and launched here with a price tag of more than a crore. Bungalows near Kasaravadi and Ranade Road have also gained traction among luxury buyers in the past few years. Some of the popular builders present in Dadar are Rustomjee, Suraj Estate, NDW Group, etc.
The rental market of the locality has also witnessed a huge surge in the last few years. This is due to smooth connectivity to the major commercial hubs of the city that has attracted a high percentage of the tenant community here.
At present, the average property price in Dadar East and West is Rs 32,003 per sqft and Rs 33,380 per sqft respectively. The price of a 1 BHK apartment starts from 90 lakhs depending on size and configuration. On the other hand, the price of a 3 BHK unit starts from 3-4 crore and goes to a maximum of 20 crores.
On the other hand, the rentals in the locality are almost Rs 75 per sq ft per month, which means you have to pay a whopping amount to rent a flat here. A 1 BHK typically starts 45000 onwards.