Mumbai is the commercial capital of India and continues to offer a wide range of employment opportunities. About 400,000 people migrate to the city each year. Coupled with the natural population growth, the city’s population is expected to reach 33 million by 2030 from the current 24 million. As a result, the demand for housing in Mumbai is estimated to be over 500,000 units per year.
Recent studies have voted Mumbai real estate market as the most unaffordable in the world. Consequently about 60% of the city's population lives in slums or inadequate housing with poor sanitary conditions.
Brick Eagle observes that the price of urbanizable lands in the outskirts of Mumbai is cheaper than comparable lands in other metros. For instance, we have acquired lands in some of our projects at around $2 per square feet. In light of the massive shortage of affordable housing in Mumbai, we see this as a compelling investment opportunity.
Brick Eagle has identified two key belts as the future self-sustained cities in the outskirts of Mumbai; Eastern Mumbai District (EMD) comprising of various towns in Karjat Taluka (Neral, Bhivpuri, Shelu, Avasareetc) and the belt of NH3 comprising towns under Shahapur, Thanset and Kasara (TSK).
Eastern Mumbai District
Karjat is uniquely located at a critical point co-joining four different directions – Panvel-Mumbai, Thane, Khapoli and Pune-Bangalore. It is set to be a popular railway junction with the international airport and other important projects. Karjat will be the only railway station in suburban Mumbai, located both on the Suburban Harbor line and the Central CST line. Karjat district has eight train stations and is within 90 minutes commute from Central Mumbai. Additionally, it falls on the alignment of the MMRDA 12 lane Multimodal highway.
Thansit is well accessible by suburban trains, located 1 km away from the Thansit station and 3 kms from Kardi station. The area is well connected to Kalyan and Thane - 45 minutes and 70 minutes respectively by suburban train commute.
Shahapur, the largest Taluka in the Thane district, lies on the Mumbai to Agra National Highway (No.3) and is 90 km from Mumbai. It is situated around 25 km from Kalyan railway station, 45 km from Thane, and 55 km from Mulund. It has also been declared as a centre for tourism by the Maharashtrian government.
Kasara lies at a critical junction on the Delhi-Mumbai dedicated freight corridor, which is being developed at a project cost of over $6 billion. The project envisages construction of 5,600 km of railway lines.This corridor will be equipped with an array of infrastructure facilities such as power facilities, rail connectivity to ports en route etc. Approximately 180 million people, 14 percent of the population, will benefit from the corridor’s development. Kasara is also one of the starting points of the central line of the Mumbai Suburban train system, and the gateway to Igatpuri hill station.