MIDC has developed an industrial area within the limits of Kulgaon Badlapur Municipal Council. This area is reserved primarily for chemical industries. The area has been developed in different blocks and carved out while keeping in mind the needs of small scale and large scale industries. This has stimulated the economic growth of the city.
The majority of the city population is working middle class. Some people are also dependent on farming as a primary source of income. There are branches of many national banks including State Bank of India, Bank of Maharashtra, Canara Bank, Axis Bank, Punjab National Bank, IDBI Bank (previously known as United Western Bank), Bank of Baroda Bank of India and HDFC Bank. Five major banks, UTI Bank which is now renamed as Axis Bank, State Bank of India, Union Bank of India, Canara Bank, ICICI Bank and HDFC Bank are operating ATM facilities, providing access to all major cardholders. ICICI Bank operates its ATM from West at Deodhar Market and from East on D.P.Road.
Recently the place has made headlines in the news due to the steepest hikes in real estate properties in the locality. The reason find its root to an incident happened in 2011 when Sivarama Krishna K, the lion of Venukonda booked an apartment in the locality followed by many noted personalities including filmstars like Mahesh Babu have shown interests in buying properties there in the vicinity of Sivaram's apartment in the lap of scenic Ulhas River valley
