What you should know before investing in under construction properties in Airoli

Airoli located in Navi Mumbai is turning out to be one of the most attractive real estate destinations in Mumbai MMR region. As a suburb of Navi Mumbai, Airoli offers good investment options for both affordable housing and elite projects close proximity to Thane, Mumbai and Navi Mumbai make Airoli a preferred destination for buyers and investors. So if you are looking at Airoli as one of your investment destinations in Navi Mumbai, make sure to keep an eye on the various factors that may go unaccounted for under construction properties.

1. Watch out for Approval Issues: Airoli is part of a dedicated greenbelt in the Navi Mumbai area and host a number of rare mangrove trees and vegetation. Many projects in Airoli therefore regularly face environmental clearances delays. Builders have to take permission from both the State Environment Impact Assessment Authority (SEIAA) and Coastal Regulatory Zone (CRZ) before the projects are approved. Make sure the builder or project you are investing in has all environmental clearances in place before investing.
2. Explore Affordable Housing Projects: Airoli has a number of projects ranging from affordable housing to upscale middle class residences. The biggest USP of Airoli has been the strength of affordable housing projects in the area. If you are looking for an investment for short term, exploring affordable housing projects may be a better option than any elite projects The overall real estate price in Airoli are affordable and however in the range of INR 8000-9000 per square feet on an average making it an attractive proposition.
3. Focus on Projects Offering Good Connectivity: Airoli has a number of projects but investments must be made in accordance with the overall location of the project. All projects located close to the peripheral highways like the Thane- Belapur highway which connects Airoli to both Thane and Vashi and the Eastern Expressway connecting Airoli to Dronagiri, Ulwe, Karanjade offers a massive upside for investments compared o other areas.
4. Do not Ignore External Development Charges: Projects in Airoli come with an external development charge. Since the area is one of the upcoming suburbs, Airoli needs such charges for development of roads, sewerage, water and electricity supply in the area. As a buyer make sure you account for all such external development charges when finalizing your project for investment in Airoli.

5: Keep an Eye on the international diplomatic enclave Project Area: While the development of the international diplomatic enclave on a 100-acre plots in Airoli's Sector 10 A along the Airoli-Mulund creek has been suspended, keep an eye on the area for future development. The City and Industrial Development Corporation of Maharashtra (CIDCO) had announced that it has a new proposal for the area any new announcement for the 100 acre stretch can trigger a massive upside for real estate prices in Airoli.

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.