 "RBI has said banks and HFCs need to strengthen their screening process in respect of lending to the segment")
Ambernath, a well-developed industrial micro market of Thane district, is famous for the presence of medium-to-large scale industries in its vicinity. The locality is bisected into east and west sections by the central suburb railway line that starts from Chhatrapati Shivaji Maharaj Terminus (CSMT) and passes via Thane, Kalyan and ends at Khopoli.
Ambernath’s growth took off when the government established a large ordinance factory (OFA) and a machine prototype factory (MPF) here. These industries prompted residential real estate developments and also encouraged other medium-to-large scale industries to establish their manufacturing base in the city.
With the rapid industrialisation of Ambernath-Badlapur MIDC area and the excellent central railway line connectivity between Thane, Kalyan and Ulhasnagar, working professionals of these micro markets see Ambernath as an affordable option to meet their housing needs. Thus, Ambernath is transforming into one of the major affordable housing destinations of MMR.
Ambernath has excellent connectivity to Kalyan via Maharashtra SH80 and Thane via NH160. It is also well-connected to Pune via Bengaluru-Mumbai Highway. It is less than a three-hour drive. Ambernath has a local station on the central railway line. Mumbai Airport is a 1.5-hour drive away, and the proposed Navi Mumbai Airport will be a just one-hour drive from Ambernath via Badlapur-Katai road and NH48.
Since 2013, around 17,300 new residential units have been added in this micro market. Of this, more than half of the launches (around 57 per cent) were added during 2015-17, and an additional 33 per cent came in 2013-14. Substantial employment opportunities, wide industrial presence and availability of land have triggered residential real estate growth post-2013.
Nearly 34 per cent (around 6,000 units) of the total supply since 2013 is in the ready-to-move-in stage, and almost 15 per cent units (about 2,600) will enter the market in less than 12 months. Around 40 per cent units (7,000) of the total supply is likely to enter the market within 12-36 months. Close to 95 per cent of the total supply falls within the Rs 4 million price bracket. MMRDA’s infrastructure upgrade plans for Kalyan-Ambernath area is also likely to boost housing demand in the near future.
Ambernath has good social infrastructure facilities in the form of healthcare, educational institutions and retail outlets for day-to-day requirements. Industrial workers from Ulhasnagar, Ambernath, Badlapur and Anand Nagar MMIDC view this buzzing affordable residential hotspot of MMR as a preferable housing destination.
The writer is head – research, ANAROCK Property Consultants.
