Palghar is the first major city on the suburban rail network after Virar. Therefore, it is a residential option for people who work in the Vasai-Virar belt. A significant part of the residents of the city of Palghar commute to Mumbai on a daily basis to earn a living. Currently, the commute to work is quite time consuming and inconvenient as it takes around 90 minutes to travel between Palghar and Borivali. With the expected start of the Virar-Dahanu line, it will be very convenient to live in Palghar and work in Virar/Vasai. While most of the 15-18 lakh people live in dense villages, the city of Palghar is seeing good industrial and residential real estate development.
The profile of Palghar residents moving to townships and flats is highly varied. They may include SME unit owners in Palghar/Boisar and their employees, residents of villages near Palghar city who have sold their land/bungalows, government officials in Palghar Taluka. An interesting trend is that some retired couples from Mumbai have also started buying real estate in Palghar due to the low cost of housing and living. A small but significant group of investors have also started buying Palghar. Most developers promise an appreciation of at least 500-750 psqf in 12-18 months.
Palghar is also a good area to spend weekends from time to time. Therefore, Palghar & Boisar is also a suitable location for those planning to invest in second homes.” Second home seekers from Mumbai (western suburbs) and the industrial areas of southern Gujarat (Vapi, Valsad and Surat) also have started shopping in Palghar.
Most of the residential development in Palghar is taking place around Tembhode, specifically near Dandekar Colledge and Satpati Road. This area extends from 3 to 6 km from the Palghar railway station. It is not possible to acquire large tracts of land near Palghar station and therefore Tembhode is a preferred area where land can be acquired. Also, the Tembodhe area is close to some schools and colleges (especially Dandekar college). So the center of development activity is the Tembodhe region of the city of Palghar. This region is also close to the Palghar-Boisar highway.
Affordable housing projects are priced from Rs 1,500 to Rs 2,000 per square foot. Some of the outstanding projects are:
- HDIL, Palghar (W), is the project that has caused the most expectation is the start-up of an affordable housing municipality by HDIL. They have planned a 160-acre integrated township development comprising 20,000 flats, shops, schools and other amenities. Its first phase of 5,000 homes has been launched and is having a good response.
- Haware Nakshatra. tembhode, is an affordable housing initiative from Haware Builders consisting of 1RK, 1BHK and 2 BHK apartments. Haware Nakshatra is 3 km from Palghar Railway Station and about 8 km from Kelwa Beach. With around 800 units, the project plans to give possession from December 2011.
- Genesis Township, Rokadia Group, Palghar (E) is development of an integrated industrial township in Palghar. The project is very close to the Palghar-Boisar highway and is therefore well connected to both Palghar and Boisar. The project is between Palghar and Boisar and is actually close to the Umroli railway station. The 150 acre Mixed Use Township in Palghar has industrial, commercial and residential development. The main focus of this municipality is to sell industrial galas and industrial lots. The project is divided into three phases. The possession of the first phase begins in March 2011 and the possession of the third phase in December 2012.
- Mahavir Garden, Tembhode Post, is a residential project launched by Mahavir Developers consisting of about 900 flats. Floor configuration is 1BHK and 2BHK. There is a plan for some retail stores, but other than that, no services are provided.