The Allure Of Navi Mumbai: Inexpensive Housing & Better Connectivity

The Allure Of Navi Mumbai- Are you considering purchasing your ideal property in Navi Mumbai? Investigate these important areas without fail. Navi Mumbai has been drawing a number of purchasers who are having trouble purchasing a property in Mumbai because of its well-planned infrastructure, improving connectivity, contemporary facilities, and reasonably priced real estate.

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Furthermore, Navi Mumbai’s connection is improving thanks to the planned Virar-Alibaug Connector and Mumbai Trans Harbour Link (MTHL). Furthermore, the internal commute within the satellite city is expected to improve with the planned Metro Lines, reducing your need on personal vehicles. Therefore, these are some important places that you can take into consideration. If you’re trying to buy a home in Navi Mumbai.


The Allure Of Navi Mumbai- Kharghar

Kharghar’s well-established social and physical infrastructure has made it one of the most sought-after locations for homebuyers. Kharghar’s abundant greenery and environmentally friendly surroundings are among its most remarkable qualities, which make it a great place for families & nature lovers to visit. The large expanse of greenery & recreational amenities found in Central Park enhance the area’s allure. In Navi Mumbai, the neighbourhood is regarded as a well-established economic hub with a property market that includes both luxury and reasonably priced properties. The area’s real estate prices increased once the Navi Mumbai International Airport (NMIA) was announced.

Furthermore, the cost of real estate in this area is slowly rising as the airport may soon be open to the public. Kharghar also benefits from being close to the Mumbai-Pune Motorway and the SionPanvel Highway. Because of its close vicinity to CIDCO, MIDC, CBD, & Taloja Industrial Estate, it provides a plethora of career options. The first Metro to be complete in Navi Mumbai would increase demand for real estate even further.

The area has seen an increase of more than 15%, from Rs 13,000 per square foot in 2018 to Rs 15,000 per square foot at now. Kharghar is a well-rounded place for everyone. Because it is home to some of the most prestigious educational institutions and top-notch medical facilities.

Additionally, CIDCO intends to develop a 120-hectare corporate park in Kharghar. This project is billed as a significant source of employment and is expect to accommodate several business giants due to its proximity to NMIA.


The Allure Of Navi Mumbai- Belapur

As the administrative and commercial centre of Navi Mumbai, Belapur is an important node. One of the most well-known neighbourhoods in Navi Mumbai today is CBD Belapur, which has seen reasonable expansion in recent years in terms of both business and residential constructions. The region is drawing builders, homebuyers, & corporate giants due to its ample land availability, active infrastructure development, easy access to prime regions in MMR, and relatively reduced property prices across all segments (residential, commercial, and retail).

The region is thoughtfully design, with broad roadways, contemporary buildings. And expansive green spaces that include multiple jogging tracks, open gyms, and leisure areas.

JLL data indicates that the price of real estate in Belapur is currently at Rs 20,400 per square foot; in 2018, it was about Rs 15,600, meaning that prices have increased by almost 30% since then. According to data, commercial rentals in Belapur are still relatively cheap. Ranging from Rs 55 to Rs 75 per square foot. While in Mumbai’s BKC, they are between Rs 240 and Rs 330 per square foot.

Belapur provides excellent opportunities even in terms of investments. Residential rental demand is fairly strong because Belapur has become a significant commercial area in Navi Mumbai & is home to various government and private commercial offices.


The Allure Of Navi Mumbai- Airoli

Once a quiet suburban neighbourhood, Airoli has quickly developed into a busy district with substantial residential and commercial development. Growth in Airoli has been spurred in recent years by its proximity to important job centres and CIDCO’s ambitious development strategy. There is a strong social infrastructure in the neighbourhood. And a number of prestigious developers have projects here that range from low-cost to high-end residential. However, real estate prices are modest in comparison to the island city. As a result, during the past few years, demand has been steady here.

Property costs in the area, according to JLL, are about Rs 18,500 per square foot; in 2018, this figure was about Rs 16,600. As a result, the property rates have increased by about 15%.

An additional benefit is that the location is well-served by rail and road connections to Thane, Vashi, and Nerul. Alongside the ongoing Airoli-Kalwa rail link project, the Airoli-Katai Elevated Corridor will soon be operational, which will increase cross-connectivity and future real estate demand. Airoli is also connected to the Chhatrapati Shivaji Maharaj International Airport via the JogeshwariVikhroli Link Road.


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