Developing Areas to Invest in Navi Mumbai in 2021
In the past, Navi Mumbai, a well-planned addition to Mumbai, has seen a huge growth in real estate due to the rapid commercialization and development of infrastructure. Today it’s one of the busiest luxury destinations. You should visit the mentioned areas to invest like Ulwe, Dronagiri, Panvel, Kharghar, and Taloja if you’re looking to buy a house in Navi Mumbai in 2021.
img1: Developing areas to invest in Navi Mumbai
Thanks to sky-rocketing property prices and limited land for new developments, Mumbai’s suburban landscape has created a niche for itself. as a trend, many homebuyers recently shifted their focus to comparatively cheaper Navi Mumbai and Thane residential markets. They deliver not only competitively priced homes but a lifestyle that suits Mumbai’s. If you’re looking to buy a self-using or even investment home in Navi Mumbai by 2021, you can discover places like Ulwe, Dronagiri, Panvel, Kharghar, and Taloja. Although Ulwe, Taloja, and Dronagiri are seeing vigorous new developments from developers in categories B and C, Kharghar and Panvel are providing sufficient fresh supplies from realtors in categories A.
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Talking about the possibilities of investing in the real estate market of Navi Mumbai, Satyendra Kumar, Proprietor, Shree Laxmi Land, avers, “The real estate market in Navi Mumbai is booming over wide roads on inexpensive property prices, expected infrastructure, greenery, and seamless connectivity.
Here’s the list of Areas to Invest Navi Mumbai:
The town provides housing options priced at Rs 4,500-5,000 per sq ft. Owing to the growth of multiple infrastructure projects such as Sewri-Nhava Sheva Trans Harbor Bridge, Navi Mumbai International Airport, Palm Beach Road, and Pune Expressway, it offers a good return on property investment. Ferry services originate from Gateway of India to Dronagiri in terms of connectivity. It also enjoys convenient access via National Highway 4B or State Highway 41. It is adjacent to Panvel, CBD Belapur, Uran, JNPT, and JNPT Township and the Nerul-Belapur-Uran railway underbuilding network. The construction of commercial hubs like the JNPT Multi-Product SEZ and the Reliance SEZ offers an opportunity to earn good rental income from a Dronagiri house.
The locale is quickly developing in the vicinity of the Sion-Panvel Expressway and Mumbai-Pune Highway as a suburban destination. It is near prime locations like Vashi, Palm Beach Road, or Belapur CBD. With its well-planned infrastructure and availability of properties priced between Rs 7,000-7,900 per sq ft, it has attracted the attention of several developers.
With educational institutions, hospitals, entertainment facilities as well as office spaces, the community is luxurious. Experts believe Ulwe’s real estate development is driven by several infrastructure projects including the forthcoming Navi Mumbai International Airport, Uran suburban railway network Seawoods-Ulwe Connection, Sewri-Nhava Sheva Trans Harbour Link, (connecting major business hubs via rapid transportation system), Seawoods-Ulwe Bridge, Sewri-Nhava Sheva Trans Harbor Link, Ulwe SEZ, and Beman Dongri Railway Station. Many prominent real estate developers have projects coming up in the region, including Shubham, Paradise, Kamdhenu, Exotica, and Galaxy.
Unlike Mumbai’s built-up areas, Panvel provides large open land tracts, making it a common suburban hotspot for homebuyers looking for a break from the hustle and bustle of urban life. In Panvel, the average property prices are Rs 6,000-7,100 per square ft. Commuting is convenient, as the region has a wide network of railways and roads. Panvel is the link to the Vashi and Belapur commercial hub which has fuelled the region’s housing demand. It houses educational institutions including Delhi Public School, DAV Public School, and Thakur Arts and Science Institute, as well as malls like Mahalaxmi, Orion Mall, and K Mall. Reliable Developers, Kamdhenu, and Arihant are some of the famous developers coming up with new projects in Panvel.
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Taloja Navi Mumbai:
Taloja has been considered one of Navi Mumbai’s fast-moving districts. CIDCO or MMRDA are preparing the facilities here, and homebuyers will buy a home priced between 4,600-5,700 Rs per sq ft. It’s also situated near the Old Mumbai-Pune highway or National Highway-4, thereby providing easy access to Pune, Mumbai, and Thane. Alternatively, Taloja is nearby Kharghar CBD, creating adequate opportunities for employment. The new Navi Mumbai International Airport or the planned Phase I (Belapur to Pendhar) and Phase-2 (Taloja to Khandeshwar) Navi Mumbai Metro line are projected to catapult future capital costs.
Khargar is situated on Mumbai’s outskirts and is considered one of Navi Mumbai’s most developed areas. Kharghar, predominantly a residential area, offers a set of commercial projects along with a cohesive social and physical infrastructure that has greatly contributed to the growth of real estate in the area. Its proximity to CBD Belapur, Sion-Panvel Highway, and Taloja MIDC, where numerous medium-sized to small-scale industries have formed their base, has led to increased demand for housing. Experienced a modest one percent increase in its average weighted capital prices in Oct-Dec 2019 similar to July-Sep 2019 after the introduction of the CIDCO Housing Scheme. Property prices in Kharghar have increased by nearly three percent in the last year. The Belapur-Pendhar Metro scheme, scheduled to begin in August 2021, and the new Navi Mumbai International Airport are expected to improve real-life feelings in Kharghar by 2021. The average capital ‘ asks ‘ at Kharghar are currently ranging from Rs 7,900-9,100 per square ft.
img3: Investment in Navi Mumbai’s Real Estate Property
Investment in Navi Mumbai’s real estate ecosystem is said to be lucrative as it is one of the homebuyers ‘ most famous regions due to affordability, smooth connectivity, and job opportunities. Notwithstanding the impending economic slowdown, in Oct-Dec 2019 vs. Jul-Sep 2019, the area witnessed a one percent increase in rates. Experts believe that with the announcement of CIDCO’s housing scheme offering 90,000 flats to homebuyers from the Economically Weaker Section (EWS) and the Middle-Income Group (MIG), the region is likely to see intensified demand for housing in the future. Investing in the above areas could yield the best investment returns.
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