Investment prospects in the real estate market of Navi Mumbai: the city of 21st Century
Navi Mumbai is trying to solve the problems of overpopulation in Mumbai. However, the township have a good chance to become one of the largest planned cities in the world and boasting the excellent socio-infrastructure including rail and road connectivity with Mumbai and supply of power and water. In the period of 2009 to 2014, this satellite township has witnessed more than 80% growth in property prices, and in Mumbai real estate sector has witnessed the average growth of 70%.
Games changing infrastructure in Navi Mumbai: Good to stay and best to invest
- Navi Mumbai International Airport (NMIA).
- Mumbai Trans Harbour Link (MTHL).
- Navi Mumbai Metro.
- Sion- Panvel Expressway.
- Nerul-Seawood-Uran Railway Corridor.
- Mumbai-Pune Expressway.
- Santacruz-Chembur Link Road (SCLR).
Today, Navi Mumbai has become one of the realty magnets for both commercial and residential development with shopping malls, SEZs, modern residential complexes and IT Parks. Once upon a time, Navi Mumbai was neglected area but now the scenario is different and it is attracting the high investment in real estate sector.
Few popular real estate projects in Navi Mumbai:
Currently, the city is witnessing approximately 450 ready-to-move-in projects and 350 under-construction projects. Space India, Arihant Developers, Bhagwati Group, Platinum Constructions, and the Nirman Group are the few names, who are ruling in the real estate market in Navi Mumbai. Here developers are launching quality projects, in different sectors such as; commercial and residential sectors.
Strategic location:
Navi Mumbai is spread over an area of50 square kilometers; it is also the commercial and financial capital of the country. Navi Mumbai SEZ has access to rail linkages and well-developed road as well as JNPT. JNPT is one of the largest and most modern seaports areas. City is also nearby large industrial areas and Pune-Mumbai-Thane knowledge corridor provides the instant access to the skilled manpower.
State-of-the-art infrastructure:
Navi Mumbai offers the state-of-the-art infrastructure and services, residential units in SEZ provide a access to world-class infrastructure and you can chose between flatted factories, built-up office space and land plots. These facilities are ready to use with all basic and necessary infrastructure and services. Other infrastructures include; social amenities, convention centers, recreational facilities and more.
Prices are on way to up:
Demands of property, both residential and commercial are growing high in recent years. Buyers, speculators and investors are making the sound investment in the region on the fast track; Navi Mumbai is emerging as the second most expensive residential location in country due to its strategic location. The SEZ is the project proposed by Reliance industry over an area of 3,200 acres and has played a major role in the rising prices.
From mid-seventies, Mumbai is trying to cater the demand for real estate sector with the eye on future and that’s why Navi Mumbai comes in existence and now this satellite twin of Mumbai is largest planned new city in the world and spread on the area of about 344 kms.
