Where to buy the property in Navi Mumbai – Favored localities
Navi Mumbai, a well-planned extension to Mumbai, has observed enormous real estate growth in the past owing to rapid commercialization and infrastructural expansion. If you are looking to buy a house in Navi Mumbai in 2021, you can explore locations such as Ulwe, Dronagiri, Panvel, Kharghar, and Taloja and as mentioned in details below –
Navi Mumbai, Today, it is one of the most sought-after residential destinations.
Navi-Mumbai – one of the top-performing cities in 2021 from the real estate demand perspective.
Navi Mumbai is witnessing healthy real estate activity attracting end-user demand, backed by big infrastructure projects like Navi Mumbai International Airport, Navi Mumbai Metro, and Mumbai Trans Harbour Link.
Panvel is the most preferred location for buyers searching for homes in Navi Mumbai. The locality includes areas such as Panvel East, Panvel West, New Panvel, Khanda Colony, Karanjade, Adai, Chipale, and the area along the Mumbai-Pune Expressway. The capital values in Panvel range from INR 4,230 – 9,850 per sqft. Proximity to the upcoming Navi Mumbai International Airport, coupled with other planned infrastructure projects such as Navi Mumbai Airport Influenced Notified Area (NAINA), Trans Harbour Link, etc., and excellent connectivity to Mumbai city, are some of the major factors driving the real estate market in Panvel.
Kamothe is a residential locality near Panvel, located adjacent to the Mumbai- Pune expressway; comprising of affordable housing units in low to mid-rise Cooperative housing societies. It is a well-planned region with a good social infrastructure comprising of schools, recreational parks, shopping centers, and hospitals. Proximity to Taloja Industrial Area, the upcoming Navi Mumbai International Airport, and the MGM Campus (comprising of a Hospital, a medical college, a dental college, a nursing college, an engineering college, and a management college), makes Kamothe an ideal destination for budget home buyers in Navi Mumbai. Further, commercial employment hubs of Vashi and Belapur can be accessed within 20-25 mins through the Sion- Panvel expressway, and the Suburban Railway. The Kamothe locality includes areas of Kamothe, Kalamboli, and Khandeshwar. The capital values in Kamothe range from INR 5,900 – 9,150 per sqft.
The locale is fast emerging as a residential destination in the vicinity of the Sion-Panvel Expressway and Mumbai-Pune Highway. It is also close to prime localities such as Vashi, Palm Beach Road, and CBD Belapur. It has grabbed the attention of several investors because of its well-planned infrastructure and availability of properties priced around Rs 8,000 per sq ft. The locality is plush with educational institutions, hospitals, recreational options as well as office spaces. Experts believe that the realty growth of Ulwe is backed by multiple infrastructural projects including the forthcoming Navi Mumbai International Airport, Uran suburban rail network (connecting the major business hubs via rapid transport system), Seawoods-Ulwe Link, Sewri-Nhava Sheva Trans Harbour Link, Ulwe Special Economic Zone (SEZ) and Beman Dongri Railway Station (linking to the Harbour Line).
Over the last decade, Kharghar has emerged as one of the major investment hotspots in Navi Mumbai, owing to a serene and green neighborhood, various affordable housing schemes by CIDCO, a large golf course development, and the upcoming metro connecting Kharghar with Belapur and the industrial area in Taloja. Additionally, Kharghar is home to some of the prestigious academic institutions such as C-DAC, NIFT, Bharti Vidyapeeth, and ITM, along with many other engineering colleges, medical colleges, dental colleges, management colleges, and international schools. The capital values in Kharghar range from INR 7,000 – 10,780 per sqft.
Vashi, one of the two gateways to Navi Mumbai, is also one of the most expensive and well-developed locality in Navi Mumbai, with adequate infrastructure comprising of schools, hospitals, banks, hotels, restaurants, malls, and commercial spaces. The Vashi locality includes areas of Vashi, Turbhe, and Kopar Khairane. The capital values in Vashi range from INR 8,580 – 17,940 per sqft. Various companies including IT/ITeS, BPO, KPO, banks, chemical, industrial manufacturing, and others operate offices in Vashi, thus, making it an ideal choice of employees for home buying.
Airoli boasts of a wide range of affordable to premium apartments, catering to home buyers in every budget segment. Airoli has a good social infrastructure of schools and colleges, hospitals, restaurants, markets, and parks. It is also well connected to Thane and Mumbai, through Thane- Belapur road, and the Mumbai Suburban Railway. Besides, proximity to major employment hubs such as Mindspace Technology Park, Airoli Knowledge Park, Reliable Tech Park, TTC Industrial Area, and a few MIDC Industrial areas, makes Airoli a favorable destination for home buyers. The Airoli locality includes areas of Airoli, Rabale, and Ghansoli. The capital values in Airoli range from INR 9,300 – 14,080 per sqft.
Nerul is a premium residential and commercial locality in Navi Mumbai, comprising of low, mid, and high-rise apartments, as well as individual row houses. Besides, Nerul is home to a few IT parks and commercial complexes, an MIDC industrial area, various professional colleges, and international schools. Additionally, the DY Patil Stadium, which hosts various international sports events matches, concerts, and other events, is also situated in Nerul. It boasts of excellent connectivity to Mumbai, Thane, Jawaharlal Nehru Port Trust (JNPT), and the evolving investment hotspot of Ulwe through various infrastructure developments including the Palm Beach road, Thane- Belapur Road, Sion- Panvel expressway, along with the Mumbai Suburban Railway. The capital values in Nerul range from INR 10,100 – 16,150 per sqft.
Seawoods is a premium residential locality in Navi Mumbai, comprising apartments, independent houses, and villas. Seawoods is a posh locality overlooking mangroves and creeks. It is well connected to other localities in Navi Mumbai and Mumbai through the Suburban railway, and BEST and NMMT buses. Seawoods also houses the NRI Complex (Seawoods Estate), an upmarket residential township developed by CIDCO, comprising of over 1,500 houses and a shopping complex, swimming pool, gardens, sports court, among other amenities. As the name suggests, it is preferred by NRIs and HNIs. The Palm Beach Road also passes through Seawoods, offering excellent connectivity to adjoining employment hubs of CBD Belapur, Vashi, Nerul, and other industrial areas. The capital values in Seawoods range from INR 9,450 – 15,350 per sqft.
Belapur is a premium residential as well as a commercial locality in Navi Mumbai, comprising of low and high-rise apartments, as well as independent houses and villas. Belapur is also home to some major government offices as well as private sector establishments, as it is the Central Business District (CBD) of Navi Mumbai. Belapur boasts of various employment avenues through various corporates operating in the locality, including IT/ ITeS, banks, and BPOs. It is well connected to the other commercial and residential areas of Mumbai and Navi Mumbai through the Suburban Railway as well as BEST, and NMMT buses. The social and retail infrastructure of Belapur is excellent, comprising of several schools, colleges, malls, hospitals, banks, hotels, and restaurants. Besides, Belapur is also home to clubs and lounges, attracting young people. The capital values in Belapur range from INR 9,400 – 13,950 per sqft.