Property Investment has been the mostly widely chosen form of investment you can opt for, to get high profit in terms of ROI (Return on Investments).
Mumbai is the most expensive city and has a residing population of more than 20 million people which has the greatest strength than any other city in India. With this huge number of people residing and crowding the city on daily basis, the demand for the affordable properties by the investors and the end users, has also increased. And Mumbai is trying its best to fulfill this demand, by emerging with many developed and upcoming locations in and around the city. These locations include Bandra, Chembur, Worli, Lower Parel, Powai, Andheri and Navi Mumbai.
Amongst all the above me ntioned locations Navi Mumbai located across Thane District and Raigad District, has witnessed to be the best place to invest in real estate, due to its unpredictable phenomenal growth in recent years. And today, every question raised by the home buyers for the affordable properties in Mumbai, is now answered by the planned satellite township of Navi Mumbai.
It is amongst the largest planned township in India, with various infrastructural developments and many other proposals in pipeline and is tagged amongst the top 6 preferred locations in India for realty hotspot.
The successful story of Navi Mumbai remains totally incomplete with the absence of CIDCO (City and Industrial Development Corporation). CIDCO’s contribution to Navi Mumbai’s growth is just phenomenal.
Navi Mumbai came into existence in 1970 and it was the CIDCO who was first to start developments in this area. It made its first development plan that included 95 villages of the locality. CIDCO has developed many social and physical infrastructures in the area. CIDCO has brought up many commercial centers in the area and is also responsible for planning and constructing all the public spaces, roads and railway stations in the locality.
CIDCO structured out 14 nodes of the city namely, Kharghar, Ulwe, Airoli, Vashi, Sanpada, Nerul, Kamothe, kalamboli, New panvel, Pushpak, Dronagiri, kopar khairane, CBD Belapur and Ghansoli, with the motive of facilitating them with huge infrastructures.
The areas that were developed first by CIDCO with Community center roads, schools and housings, include CBD Belapur, Nerul and Vashi. Then CIDCO moved its developments plans to areas like Kopar Khairane, New Panvel, Kamothe and kharghar, after the arrival of harbour railway line in 1990’s.
CIDCO provided basic infrastructures like water, electricity and roads to these nodes. After which the further developments according to the CIDCO plan were handled by private builders. But the areas such as kalamboli, New Panvel, Kamothe and Kharghar, which are newly developed, are still under the maintenance of CIDCO.
The micromarkets such as Ulwe and Kharghar have shown a rapid development over passing years with all the social and civic skylines, which have led to the appreciable growth in the prices of properties in these localities. And day by day they are attracting more and more investors and home buyers towards it.
The peripheral areas of Navi Mumbai enjoy immaculate railway and roadway connectivity’s, which serve as one of the reason for the investors and the property buyers to invest here, as the most important factor in deciding while selecting a place of residence is that it should have easy transit channels to reach one’s work place comfortably.
The city has good connectivity to various suburbs like Thane and Pune, via Eastern Express Highway and Western Express Highway and also through Central Railway Lines. Skywalks and Wide Roads are some of the reasons that are adding to the growth of real estate investments and residencies in the localities of Navi Mumbai.
Making an investment in Navi Mumbai is a good and smart decision to earn good profit in future. The city has many upcoming plans that are mentioned below. And this will definitely boost your investments.
Developmental Plans and their impact on Property Rates
Real estate appreciations have close proximity to the infrastructural developments because they play a crucial role in changing the game of real estate market. Any developments in the infrastructures of the area have a strong and positive impact on its property market.
Below mentioned are some proposals that will highly impact the property rates in Navi Mumbai.
Navi Mumbai International Airport
The Navi Mumbai International Airport plan has been finalized and CIDCO has provided 250 hectares of land for this project. The government wants the project to be completed as soon as possible and expects its first phase to be functional by 2017 accommodating 10 million passengers. By 2020, it is expected to accommodate 25 million passengers, 45 million passengers by 2025 and last with an ultimatum of accommodating 60 million passengers by 2030. The master plan of the airport is to be developed in modules and will be operated and managed considering the international standards.
The proposal of this international airport has gradually increased the positional value of the city and hence, has grabbed the attention of many real estate buyers and investors. Many developers have started creating their landmarks in the locality.
Metro Rail project
The Metro Rail Project of Navi Mumbai is planned with six corridors that are mentioned below,
The first metro corridor is 28.3 km long which connects Belapur and Nerul by passing through Seawood, Ranjanpada and Uran.
The second corridor was planned to connect Belapur and Khandeshwar. But now it is planned to extend it up to the Navi Mumbai International Airport. This metro line is 21.45 km long will pass through Kharghar, Taloja and Kalamboli.
Third corridor is stretched between panvel and Vashi. It is 25 km long and will pass through Nerul.
The fourth metro corridor is planned to be 14 km long and will run between Ranjanpada and Seawoods.
Passing through Ghansoli and with Metro Corridor six will run between Vashi and Mahape. And Corridor six is 9 km long.
Mumbai Trans Harbour Link (MTHL)
The proposed Mumbai Trans Harbour Link (‘MTHL’) project has been planned to connect Mumbai and Navi Mumbai.
And once it becomes functional it will immensely reduce the traffic congestions that are faced by the commuters travelling from Mumbai to Navi Mumbai.
Upcoming Commercial Centers
A huge number of commercial companies are moving towards Navi Mumbai, as it has ample of commercial spaces which are available at much lower prices. Many enterprises by the leading companies have come up in the city and Cognizant Technology is one of them. Numerous technology companies are going to set up their offices in Airoli and Ghansoli, thus leading to a great employment hope for many skilled students.
The affordable real estate market of the city attracts both the price-sensitive buyers as well as the highly financed buyers. It has many emerged with numerous residential projects that are easy to invest in or buy it for residing purpose.
Some of the residential projects in Navi Mumbai by the top reputed and well-known developers are listed below,
Hex Down Town is a residential property by Hex Corp and is located in kharghar. Hex DownTown offers 1 BHK, 2 BHK and 3 BHK flats for sale in Navi Mumbai. The residency includes modern amenities like Jogger’s Park, Swimming Pool, and Club House etc.
Landmark Riverside by Vaastu Siddhi Group is a residential property spread across 4.5 acres of land and is a multi0-storeyed Project with 23 towers. Located in Panvel it offers 1 BHK, 2 BHK and 3 BHK flats in Navi Mumbai.
Bhagwati Group Greens located in kharghar offers spacious 2 BHK luxury flats and the amenities provided by this residential property are well suited to meet a modern lifestyle.
Marathon Next zone by Marathon Realty is located at Panvel and comprises of 2 BHK and 3BHK flat configurations and is facilitated with all basic amenities that a person needs.
India Bull Greens by India Bull Real Estate is a residency located at Panvel and offers 1 BHK, 2 BHK, and 3 BHK flats and the residency is in great harmony with nature.
Sai Icon is a residential property by Paradise Group and comprises of 3 BHK and above flats . The property has top notch amenities for its inhabitants to give them a luxurious touch.
Provisio Group’s residential property i.e. Sai Provisio Landscape, located at Panvel offers 1 BHK, 2 BHK and 3 BHK flats.
A Residential project, Lakhani La Riveria by Lakhani Builders offers 1 BHK and 2 BHK flats for sale in Panvel. The amenities provided by this residency include senior citizen area, swimming pool, Children’s play area, jogger’s park etc.
Kalpataru Waterfront is a residency developed by Kalpataru Group and offers offers 2 BHK and 3 BHK luxury flats for sale in Panvel. Kalpataru Water front has top class facilities for its residents.
Along with these benefits, the city has a nature connected and evergreen environment with gives the pleasure of fresh atmosphere and much cleaner air to breathe.
Being the most well-organized and well planned location in India with much better infrastructures, ample of job opportunities and great transit system, Navi Mumbai has emerged as a leader and can serve as a best place to invest in real estate sector. The property rates have been handsomely appreciated in the last one year and the above upcoming projects and developmental plans are going to give a further boost to the property prices.