Property Investment in Palghar: A Mini Handbook of Investment

Palghar is one of the top investment locations of this city, boasting seamless connectivity, growing infrastructure, and developing industries. This guide will show you a clear path to property investment in Palghar and lead you to a new real estate journey.

What is Property Investment in Palghar?

Property investment in Palghar is beneficial due to various effective factors, including industrial development and tourist attractions. This region enjoys a dedicated industrial zone called the BIDCO Industrial Area. Furthermore, over 1000 industrial units, including TATA Steel, Macleods, Raymond, Welspun, and Dales Remedies, are functioning from this Western line of Mumbai. Also, being a halt on the Western Railways, this place has an important role in connecting commercial hubs such as Andheri, Lower Parel, and Churchgate.

Moreover, many investors are taking Palghar as a second home to spend a splendid weekend with tourist places like Kelva Beach, Mahim Beach, Kelva Dam, and Satpati Beach.

Factors to Consider Before Investing in Palghar Real Estate

Economic Growth

Palghar, a major economic centre not only hosts IT companies but also nurtures farming and fishing industries. Nearby areas like Jawhar, Mokhada, and Vikramgad contribute significantly to crop and commodity exports, including rice, millet, turmeric, honey, and firewood. The Boisar Maharashtra Industrial Development Corporation further drives economic growth with companies such as Tata Steel, JSW Steel, and Viraj Steel.

Infrastructure

The Versova-Virar sea link, a 42.75-km eight-lane elevated road, will be extended till Palghar. The Bullet Train Corridor in Palghar is another mentionable project that began construction recently.

Affordability

Presently, the localities of Palghar, like Boisar and Sephale, offer residential property within a price range of Rs. 3,500 to Rs. 3,700 per sqft. Also, Palghar now offers various mid-segment residential properties starting from around 10 to 15 lakhs.

Rental Yield

In the current scenario, residential properties in Boisar are experiencing a rental yield of 3%. Moreover, rental properties in Palghar typically range from Rs. 5,300 to Rs. 10,100 per month.

Potential for Growth

Palghar is getting a bunch of mid-segment and pocket-friendly residential properties presently. The under-construction mid-segment projects like Sea Crests Aloha in Palghar, FIA Eklavya, and FIA Enigma signal a notable demand for residential properties in this locality.

Demand of the Location

Based on the Population Census data, the population of Palghar has experienced significant growth in recent years and is projected to continue increasing in the future. According to the census, the population stood at 68,930 in 2011 and has risen to 93,000 by 2023. This indicates a notable surge in demand for the location among residents from the outskirts of the city.

RERA

When investing in Palghar, ensure that RERA-registered properties are at the top of your list. RERA registration guarantees transparency regarding legal approval, project delivery, regulated prices, and more. Additionally, it significantly boosts buyer confidence in real estate investments in Palghar.

Builders

Palghar is not only a centre of mid-segment residential projects but also renowned builders who are taking responsibility for the construction of luxury properties. Arvel Realtors, Sea Crests Buildcon LLP, Veena Developer, Adinath Developer, etc., are some of the top builders in Palghar.

Steps To Invest in a Property in Palghar

Step 1: Determine Your Budget and Conduct Market Research

Start by establishing your investment budget. A clear budget enables you to create a precise list of potential properties. Research various sources to understand price trends in the market and identify the best areas to purchase property in Palghar. After thorough research, allocate a reasonable amount to secure the best property available.

Step 2: Define Your Requirements and Shortlist Properties

Once your budget is set, clarify your specific requirements. Individuals have different needs, whether for family living or bachelor lifestyle amenities. Define your criteria and create a shortlist of properties that meet your requirements.

Step 3: Visit Shortlisted Properties to Assess Them

While digital tools offer convenience, it's essential to visit potential properties to evaluate them thoroughly physically. While initial research can be done online, visiting properties in person allows you to verify their condition and suitability firsthand.

Step 4: Perform Background Checks and Review Property Documents

Before finalising any property, conduct comprehensive background checks. This includes researching the builder's reputation and examining the property's legal status. Ensure all necessary documents are in order and review them meticulously to avoid future disputes.

Step 5: Gather Required Documentation

Once you're satisfied with a property's background, it's time to gather all necessary documents. This involves obtaining sales deeds, agreements, and other paperwork. Seek assistance from real estate agents and legal professionals to ensure a smooth and clear process.

Step 6: Complete the Transaction

Finally, proceed with the purchase of the property. Ensure the transaction is legally secure and complete any required payments, including stamp duty and registration charges, to confirm your legal property ownership.

Benefits of Investing in Palghar Real Estate Property

Easy Accessibility

Palghar enjoys excellent connectivity with neighbouring areas through both rail and road networks. It is a crucial stop along the Western Railways route, linking key commercial centres such as Andheri, Lower Parel, and Churchgate. Moreover, the upcoming Bullet Train project will include a stop at Palghar, significantly enhancing connectivity and reducing travel times.

Enjoy The Township

In 2021, Palghar got a master plan of the township under CIDCO (City & Industrial Development Corporation of Maharashtra). 337 hectares of CIDCO land was assigned to complete this township, the second such township after Navi Mumbai.

Fulfil the Daily Needs in Proximity

Education and healthcare are essential requirements for everyone. Investing in property in Palghar provides access to these facilities, as well as recreational areas nearby. Nearby educational institutions include Rustomjee International School, St. John Bosco High School, Palghar Mahavidyalaya, and Adarsh College of Arts, Commerce, and Science. Healthcare needs are met by hospitals such as Palghar General Hospital, Life Care Hospital, and Apex Multispeciality Hospital.

Affordable Residencies

Palghar is not very expensive. It comes with a bunch of mid-segment and pocket-friendly properties. Adinath Galaxy, Adinath Glory, FIA Eklavya, etc., are some of the affordable residential properties in Palghar.

A High Return on Investment

Being an industrial area, Palghar is witnessing a notable year-on-year price hike presently. As per recent data, the residential properties of this location are going through +6.46 Y-o-Y (Year-Over-Year) growth. It means one can expect higher revenue in the coming years on the real estate investment in Palghar.

Easy Access to Employment Hubs

In addition to its internal industrial zones, Palghar offers close proximity to other significant employment hubs such as Tarapur Industrial Area, Boisar, Dahanu, and Vasai Virar. Residents of Palghar can conveniently commute to these centres, ensuring a seamless work-life balance.

Rental Demand

Palghar boasts several prominent tourist destinations, including Kelva Beach, Mahim Beach, and Kelva Dam, resulting in a consistent demand for rentals throughout the year. Additionally, it's a favoured spot for those seeking a tranquil weekend getaway, where they can immerse themselves in the serene surroundings and breathtaking views by renting properties in Palghar.

Top Locations for Real Estate Property Investment in Palghar

Boisar

Boisar stands out as a prime location and the ideal spot to purchase flats in Palghar, thanks to its well-established MIDC. Offering easy accessibility to Mumbai, Gujarat, Ahmedabad, and Surat, Boisar is also home to prominent employment hubs such as Tarapur MIDC, Maharaja Retreat Tower, and Spectrum Tower. Currently, residential properties in Boisar are available at an average price of approximately Rs. 3700 per sqft.

Manor

Located approximately 20 km from Palghar, Manor provides close proximity to the industrial hub of Boisar. This area is particularly favoured by second-home buyers seeking a tranquil environment away from the hustle and bustle of city life. Residential properties in Manor are priced at around Rs. 3,100 per sq ft.

Dahanu

Dahanu, a picturesque coastal town, offers a perfect retreat with its stunning surroundings of the Arabian Sea and Sahyadri Range Mountains. Known for its horticulture and fruit industry, Dahanu boasts abundant greenery, creating a serene atmosphere. The anticipated shipping terminal project is expected to boost housing demand in the area further. Residential properties in Dahanu are priced at an average of Rs. 5000 per sq ft.

Naigaon

Situated between Mira Bhayander and Vasai, Naigaon is a highly sought-after location in Palghar. With its convenient location along the Western Express Highway, Naigaon provides seamless connectivity to various parts of Mumbai. The average price of residential properties in Naigaon is currently around Rs. 5,500 per sqft.

Wada

Wada, a taluka in the Palghar district, enjoys direct connectivity to industrial hubs in Bhiwandi and Thane. With upcoming infrastructure and industrial projects like the Priyadarshini Cooperative Limited industrial colony, Wada is poised to experience a surge in real estate demand. The average price of residential properties in Wada is approximately Rs. 4,600 per sq ft.

Risks and Challenges of Investing in Palghar Real Estate Properties

Investing in property in Palghar can be lucrative, but investors need to be mindful of potential risks and challenges.

1. Market Volatility: The market in Palghar can be unpredictable, with prices fluctuating due to factors such as economic conditions, government policies, and internal demand. Investors must be prepared for these fluctuations and adjust their strategies accordingly.

2. Infrastructure Development: With ongoing infrastructural development, Palghar localities may experience water supply and transportation disruptions. These issues can impact the demand for real estate in the area and potentially affect investment returns.

3. Property Oversupply: Rapid development in certain segments of Palghar's property market can lead to oversupply. This oversupply may result in a decrease in property values as competition increases. Investors should carefully assess market conditions to avoid investing in areas prone to oversupply.

Conclusion

What is Property Investment in Palghar?

Industrial development and tourist attractions are two major factors in property investment in Palghar. The location boasts an industrial zone, BIDCO Industrial Area along with the centre of TATA Steel, Macleods, Raymond, etc. Moreover, Palghar is a great second home destination with tourist places like Kelva Beach, Mahim Beach, Kelva Dam, and Satpati Beach.

Factors to consider before investing in Palghar Real Estate

• Economic growth
• Infrastructure
• Affordability
• Rental yield
• Potential for growth
• RERA
• Demand of locations
• Builders

Steps to invest in a property in Palghar

Investing in a property in Palghar involves steps such as budget determination, property shortlisting, thorough assessments, background checks, document gathering, and secure transactions. By diligently following these steps, investors can confidently and clearly navigate the Palghar real estate market.

Benefits of Investing in Palghar Real Estate Property

• Easy accessibility
• Enjoy the township
• Fulfil the daily needs in proximity
• Affordable residencies
• A high return on investment
• Easy access to employment hubs
• Rental demand

Top Locations for Real Estate Property Investment in Palghar

• Boisar
• Manor
• Dahanu
• Naigaon
• Wada

Risks and Challenges of Investing in Palghar Real Estate Properties

• The volatile market and unpredicted market price
• The new infrastructural development may disrupt water supply and transportation
• The oversupply of properties might affect property prices negatively