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07 Sep

Matunga - Emerging Destination For Residential Projects in Mumbai

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Introduction

There was once a hotelier who said, "in this business, it's all about location, location, location." While that adage holds true for almost everything in life; it is particularly true in the case of choosing a residential property. Along with considerations like the future appreciation of the property, the reputation of the neighborhood, the educational, recreational, health care and cultural amenities in its vicinity and of course the overall quality of life.

In Mumbai, one of a homeowner's prime considerations, is tranquility. With Mumbai being the kind of vibrant city it is, the buzz and energy it emanates, can sometimes be quite disorienting to people. With traffic, grime, humidity and the general stresses of life bogging one down, it is quite obvious that one would want their home to be in a serene and tranquil neighborhood.

In a case of having one's cake and eating it too, we'd also like our homes to be in a prime location, that is heavily connected to the action of the city. Excellent roads, easy access to trains and buses and shops for daily provisions rank high on our list of desirable traits when it comes to making a purchase decision on a home. We can't always get what we want. But sometimes, we do, how else can one explain the anomaly in the equation, that is Matunga.

Matunga manages to be centrally located with access to the best of both the city and the suburbs. It manages to be part of the city, yet sufficiently disconnected from it all. When it comes to life in Matunga, one has it all, but with one significant addition, that of relative serenity. And that is one reason it has become one of the most sought after residential destinations in Mumbai.

Why Matunga?

Location:

Matunga is located in South Central Mumbai. This makes it virtually equidistant from the traditional business district of Nariman Point, the cultural district of Colaba, and the new financial district of BKC (Bandra-Kurla). There are few other places in Mumbai that offer such a distinct locational advantage as Matunga does. For those looking to strike a work-life balance, Matunga is perfect, as it is always just a half hour's drive to where you work and back.

Connectivity:

Matunga is a very important stop on both Mumbai's central and western railway lines, this means that it connects rather seamlessly with the rest of the city. Road transport and networking is also a rather pleasant experience through both the east and the western halves of the suburb. Granted that Tulsi Pipe Road and Cadell Road can get a bit busy through the evenings, but efforts are always underway to ensure that the connectivity isn't compromised. The Western Express Highway ensures that connectivity to and from the city is a piece of cake.

Midtown bliss:

Matunga is located in the heart of Mumbai with access to the best of both town and the suburbs. If that weren't enough, there are things here that make it an oasis for tranquil living. For instance the sheer number of gardens, like Maheshwari Udyan, Five Gardens, Don't Bosco campus and several others. A leisurely walk through Parsi Colony is a sheer treat for our senses, especially one's ears, where one can revel in the sounds of silence. Where else can one find that in a city like Mumbai? This then is definitely one of those intangibles that makes Matunga a favourable destination when considering buying a place.

Educational institutions:

Families with children of all age groups can rest assured that moving to Matunga is a good decision. Home to some of Mumbai's most renowned educational institutions across the spectrum. Where else can you find schools, colleges, and even post graduate colleges within a stone's throw of each other. Matunga is home to many of the city's finest schools, but perhaps the most famous one is the Salesian run, Don't Bosco's. Having produced some of the city's finest sportsmen, academics, lawyers, doctors and software professionals, this school even today is a highly sought after institution. A few metres away from Don Bosco's is the prestigious Khalsa college, renowned for its prowess in academics as well as sports, this college is easily one of the best in the city. For postgraduate studies, the WE school for MBA and Veer Jijamata Technical Institute for Chemical Engineering are highly sought after.

Shopping:

While Matunga itself may not have any malls of note, access solves that problem. Being equidistant from Bandra and Colaba, means that Matunga has the best of both the high Street and bargain basement kitsch. Not to forget Matunga's proximity to Lower Parel and the retail treasures it holds.

Healthcare:

Health care is both a necessity and a good investment. Matunga in that sense is a very 'sorted' location. One of Mumbai's best health care centres in Hinduja Hospital calls Matunga home. A fifteen minute drive gives one access to Jaslok, Lilavati and Breach Candy, putting Matunga in the periphery of the best healthcare the city has to offer. For issues of a more everyday kind, Matunga comes equipped with specialists for every conceivable ailment, from the common cold to cancer, and from psoriasis to pancreatitis, Mahim has a physician for all possible needs.

Culture:

Matunga's relative tranquility, cosmopolitan nature and peaceful vibe make it an ideal cultural hotspot. Shanmukhananda Hall is one of Mumbai's finest performance venues, and is always playing host to some of the most interesting theatre acts and musical shows. Ravindra Natya Mandir (though technically not in Matunga) is one of the best places to catch dance performances and variety shows. Some of Mumbai's original Bollywood landmarks in Plaza (one of Mumbai's oldest single screen theatres) and Maratha Mandir, are a great place to watch Hindi films. Access to Bandra and Lower Parel means that most multiplexes too, aren't completely inaccessible from Matunga. Antop Hill, not too far from Matunga is also the site of the IMAX theatre, which is a brilliant experience for the entire family, as it redefines immersive movie watching.

Religious places and festivities:

Matunga is home to a large South Indian and Jain populace, and therefore Jain Derasars and Aiyappa temples (among others) are found here. There also are Sikh Gurdwaras and Catholic churches (Don Bosco and Our Lady of Dolours) as well as one of Mumbai's few Agiaries at Parsi Colony. The neighbourhood has a very secular feel, where all festivals are celebrated in an inclusive and joyous manner.

Property appreciation:

Priced anywhere between Rs. 27,900 to Rs. 35,800 per square foot, property in Matunga is by no means cheap. The premium one pays however is justifiable by the excellent location, infrastructure and access to top quality of life. What's more, is that Matunga as a property destination is one of those that will never fade. Over the past few years properties have appreciated steadily, in fact since 2010, the rate per square foot in prices has seen a phenomenal growth year on year by at least 30%.

Upcoming infrastructure:

Matunga is currently in the midst of two of Mumbai's most important infrastructural projects. The first is the proposed coastal road, which when completed will reduce the suburb's traffic load greatly. The second is the constant maintenance and widening of the Western Express Highway that has made commuting to the city a relative breeze. These two projects along with several others will definitely push up the value of one's investment, if indeed one was to make said investment at this point in time.

Conclusion

Matunga is an ideal mix of connectivity, educational, social, cultural and health care options. An ever appreciating real estate market and excellent projects by reputed developers and price bands galore are some of the prime reasons to consider moving to this little slice of heaven.

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