5 Reasons to Cheer Investors in Navi Mumbai

Navi Mumbai is the new real estate destination near Mumbai city. The township was essentially created to solve the problems of ever expanding Mumbai such as overpopulation and congestion. With time, the township thrived to become one of the largest planned cities in the world. It boasts of excellent socio-infrastructure, good rail and road connectivity to Mumbai, power and water supply.

These factors led to the tremendous appreciation in residential and commercial properties. In fact, between 2009 and 2014, the satellite township has witnessed 80 - 85 per cent surge in property prices, while Mumbai saw an average increase between 75 and 80 per cent.

Therefore, it does not come as a surprise that starting from the Lodha’s, to the Ambani’s, to the Kohinoor Group, all real estate titans have their eyes glued to the city.

1. Growth of multinational companies:

Many large multinational companies have set up their corporate offices in Navi Mumbai, resulting in steep rise in the requirement of residential and commercial units. A large number of investors both from Mumbai and Pune are choosing Navi Mumbai as their second home destination. Rentals demands are also high due to commercialization and it is a good means of getting good return on investment. Rental values in this micro-market currently range from Rs. 14,000-35,000 and the capital values for residential properties range between Rs.7500–9000/sq.ft.

2. Upcoming NAINA Project:

Expected to be completed in a decade, NAINA (Navi Mumbai Airport Influence Notified Area), promises to introduce affordable housings over an area of 600 sq km. Once completed, it is expected to be the most sought after residential space in Navi Mumbai.

3. Development of Special Economic Zones:

The Ulwe region in Navi Mumbai is going to reap the advantages of having two Special Economic Zones. One of them, the Navi Mumbai Waterfront SEZ is almost complete, while work on the Navi Mumbai Airport SEZ is underway. Both these SEZs are expected to impact the real estate market of the locality in a major way. The Waterfront SEZ is spread over 80 hectare and the Airport SEZ has an area of about 500 hectare.

4. Developments in Infrastructure:

With the advanced infrastructure and development plans from CIDCO, this new city has offered attractive and high-profile facilities and other amenities for people to live. Many projects have been developed in this industry to offer a better connection to the International Airport and other parts of the Mumbai City. These include infrastructure projects such as the Kopar Khairane-Vikhroli Link Bridge and Sion-Panvel Expressway, and the proposed metro line which will connect the eastern suburbs of Navi Mumbai.

5. Compatible Lifestyle:

Navi Mumbai offers living spaces for people from all walks of life. 1 BHK flats for the mid income group are the most sought after in the city. These are mainly preferred by salaried persons or by those who wish to let the space out for rent. 2 and 3 BHKs are taken by the middle and upper middle class and they mainly prefer reputed builders. The rich category prefers to buy ultra modern duplexes, penthouses and villas.

Gsv Naresh is a real estate blogger who blogs about India's realty market and also gives advice on buying residential projects and flats in India.For More Information about Real estate Visit CommonFloor.