Infrastructural Projects All Set to Push Up the Real Estate in Navi Mumbai
At a time when Mumbai is facing spatial crunch, Navi Mumbai has emerged as one of the fastest growth corridors for real estate development. Navi Mumbai property market is all set to burgeon, thanks to a number of high-end infrastructural projects. The upcoming International Airport and Mumbai Trans Harbour Link are all set to transform the shape of the city, in the coming future. The realty market that has been keeping a low head requires a boost and these infrastructural projects shall play a vital role in helping it doing so.
Navi Mumbai property shall see more developers foraying into the city. Most of them are pinning the areas to be developed along the new International Airport. The realtors who are facing shortage of land for their developmental projects in Mumbai have found Navi Mumbai as their new hope. With deadlock created by the objections by Project Affected Persons (PAPs) over now, the way for the airport is clear. This mega project has already set in motion some high-level realty projects in neighboring areas like Ulwe, Wagholi Panvel, and others. The property prices have also signaled an increase in these localities.
Real estate properties are expecting better employment opportunities created mainly in the aviation sector. The construction of airport shall only add value to these residential apartments. With better connectivity and distances shortened, the time taken to travel to and from this city shall decrease considerably. Some reputed developers like Arihant, Hiranandani Estate, and India Bulls have shown eagerness in this area. As far as prices of India properties are concerned, the average per square feet rate has shown a good increase from 4000-6500 to 7000-9000/ -. A total of 270 villages have been earmarked to be included in the area surrounding this new airport.
Another big infrastrural project that is expected to open new gates for development for real estate in Navi Mumbai is Mumbai Trans Harbour link. Also known by the name Sewri-Nahava Shava Link, this 22 km long road shall connect Mumbai and Navi Mumbai. It shall be connected to Mumbai Pune Expressway and will shorten the distances considerably. The link shall comprise of a Sewri-Worli connector, a 4 lane road connecting Mumbai to Sewri. Yet another infrastructural project that is expected to give a big boost to residential sector is the upcome Mumbai Metro. To be developed across several phases, the rail link shall reduce the distances between twin cities, on one hand, and reduce the traffic congestion problems, on the other.
Navi Mumbai property shall see more developers foraying into the city. Most of them are pinning the areas to be developed along the new International Airport. The realtors who are facing shortage of land for their developmental projects in Mumbai have found Navi Mumbai as their new hope. With deadlock created by the objections by Project Affected Persons (PAPs) over now, the way for the airport is clear. This mega project has already set in motion some high-level realty projects in neighboring areas like Ulwe, Wagholi Panvel, and others. The property prices have also signaled an increase in these localities.
Real estate properties are expecting better employment opportunities created mainly in the aviation sector. The construction of airport shall only add value to these residential apartments. With better connectivity and distances shortened, the time taken to travel to and from this city shall decrease considerably. Some reputed developers like Arihant, Hiranandani Estate, and India Bulls have shown eagerness in this area. As far as prices of India properties are concerned, the average per square feet rate has shown a good increase from 4000-6500 to 7000-9000/ -. A total of 270 villages have been earmarked to be included in the area surrounding this new airport.
Another big infrastrural project that is expected to open new gates for development for real estate in Navi Mumbai is Mumbai Trans Harbour link. Also known by the name Sewri-Nahava Shava Link, this 22 km long road shall connect Mumbai and Navi Mumbai. It shall be connected to Mumbai Pune Expressway and will shorten the distances considerably. The link shall comprise of a Sewri-Worli connector, a 4 lane road connecting Mumbai to Sewri. Yet another infrastructural project that is expected to give a big boost to residential sector is the upcome Mumbai Metro. To be developed across several phases, the rail link shall reduce the distances between twin cities, on one hand, and reduce the traffic congestion problems, on the other.
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