Property in Navi Mumbai Mumbai

Know More About Navi Mumbai

Total Projects: 5791

Navi Mumbai is a landmark township in Maharashtra’s west coast and is impeccably planned. Developed by the Government in collaboration with CIDCO in 1971 as a brand new urban township for Mumbai residents, Navi Mumbai’s population has grown by leaps and bounds and touched a whopping 1.34 million last year itself. CIDCO initially developed the CBD Belapur, Vashi and Nerul in terms of residential real estate, educational institutions, roads and community centres. Thereafter, the harbor railway line extension in the 1990s sparked greater development and areas like Kamothe, Kharghar, Kopar Khairane and New Panvel became realty hotspots. There is huge demand for property in Navi Mumbai owing to great connectivity with Pune, Mumbai and Thane alike.

Several leading builders like Hiranandani, Indiabulls Greens and Wadhwa are coming up with big ticket projects in Navi Mumbai. Apart from the CBD at Belapur, there are several IT parks and business hubs spread across the entire township. The area is dotted with several shopping centres like the Centre One, Raghuleela Mall and Inorbit Mall. The new railway link between Uran and Nerul is currently being developed while plans are afoot to expand the vital Sion-Panvel Highway as well. The proposed metro link will soon link Kharghar, Belapur, Pendhar and Taloja. A new airport has been proposed in Panvel along with several new roads. Larsen & Toubro are currently building the country’s biggest commercial complex at Nerul.

The infrastructure boom in Navi Mumbai comprising of the development of areas like Ulwe, Panvel, Kalamboli and Dronagiri in addition to the Mumbai Trans Harbour Link, affordable housing projects, Navi Mumbai Airport, Jawaharlal Nehru Port Trust expansion and metro project have contributed greatly to demand for property in the region. The region has its own Central Park at Kharghar and the Chhatrapati Shivaji International Airport lies just 30 kilometres away from the township. The entire region is dotted with malls, supermarkets, convenience stores, banks, restaurants and educational institutions. The Navi Mumbai SEZ, Olympic size swimming pool at Nerul and the proposed 18 hole golf courses at Kharghar and Nerul are major developments on the anvil. There is already an 11 hole golf course at Kharghar. Major educational institutions in Navi Mumbai include the Apeejay School, Ryan International Group of Institutions, Avalon Heights International School and the Delhi Public School among others.

Property prices have increased by approximately 4.99% in the region as per Q3 2015 and prices range between INR 4, 475-14, 444 per sq. ft. for the same period. Developers like Monarch, Godrej, Sunteck, Neelkanth and Kalpataru are coming up with major projects in the area. Popular projects include Godrej City, Kalpataru Waterfront and Neelkanth Exotica to name a few.

Navi Mumbai Property Price Rising Factors