Property Rates in Navi Mumbai set to Rise by Large Percentage

If you are noticing the increase in number of visitors at a property fair in Navi Mumbai these days, then you should consider it a the boom in property market in Navi Mumbai because the rates of residential apartments in Navi Mumbai are really rising. This is happening mainly due to the Navi Mumbai airport project. With the airport, Navi Mumbai is becoming a self-contained and complete city. Soon it will have a world class infrastructure. Not only from Mumbai, but people from other areas such as Pune are making Navi Mumbai their new home. This proves that Navi Mumbai has become now a commerce and education hub and is attracting many home buyers.

Property rates in Navi Mumbai are now almost same as that of their counterparts in the western suburbs. If you see, developers of Nerul to Kharghar projects have increased the rates of their premium projects equivalent to that generally between Goregaon and Kandivli. Also keeping in mind that Panvel is the last residential area in Navi Mumbai and the beginning of the Mumbai-Pune Expressway,a lot of action is expected around Panvel and the surrounding areas.  Kamothe and Kalamboli are two major markets which have seen spill over residential demand especially for 1 bedroom houses from Kharghar.

 For the past many years land in Navi Mumbai areas such as Ulwe, Airoli, Kamothe, Kalamboli, Panvel, Belapur has been gaining values. The rates in these areas are already minimum 25 per cent more than the norm. not only that, builders have their own reasons for increased rates like high input costs such as high land costs, higher funding costs; skyrocketing cost of material and labor.