Navi Mumbai, a planned satellite city on the eastern waterfront of Mumbai, has emerged as one of India’s fastest-growing real estate markets.
With a strategic location, excellent infrastructure development, and robust connectivity, Navi Mumbai offers many opportunities for real estate investors and homebuyers.
Navi Mumbai is rapidly evolving into a prominent commercial hub, with several multinational corporations and IT companies establishing their presence here.
This has led to a surge in demand for commercial spaces and corporate housing.
Homebazaar.com AVP Dharmesh Thakkar said, “Navi Mumbai is a well-developed city with attractive features for realtors, making it a hotspot for investment. The newly started Mumbai Trans Harbour Link further adds to the growth potential, promising a transformative impact on the local real estate market. With diverse investment projects, favourable locations, and promising returns, Navi Mumbai’s real estate market presents lucrative opportunities for investors.”
The residential real estate market in Navi Mumbai offers a wide range of options, from affordable apartments to luxurious villas and gated communities.
Nerul, Panvel, Kharghar, Ulwe and Taloja have witnessed significant residential development.
These areas with upcoming developments and improved amenities have witnessed higher appreciation rates.
As infrastructure projects continue to unfold and the city’s connectivity improves, Navi Mumbai is likely to remain a promising real estate destination for the foreseeable future.
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Here are the top localities to buy plots in Navi Mumbai.
Panvel
Panvel has been experiencing significant growth as a real estate hub in recent years.
Its strategic location on the outskirts of Mumbai makes it highly attractive for real estate investment.
It serves as a gateway to the Mumbai Metropolitan Region (MMR), connecting Mumbai and Pune. This connectivity to major cities enhances its real estate prospects.
In the last 5 years, the property prices in Panvel have increased by around 15%.
Panvel offers relatively affordable real estate options compared to Mumbai and some other nearby cities. This affordability factor has drawn both developers and investors to the region.
Upcoming Developments In Panvel
Panvel has witnessed rapid infrastructure development.
Navi Mumbai International Airport: The construction of the Navi Mumbai International Airport is a significant project that will enhance connectivity and boost economic growth in Panvel and the surrounding regions. It is expected to become a central transportation hub.
Mumbai Trans-Harbor Link (MTHL): The Mumbai Trans-Harbor Link or Sewri-Nhava Sheva Trans-Harbor Link, will provide a crucial road link between Mumbai and Navi Mumbai, passing through Panvel. This will reduce travel time and ease traffic congestion.
Coastal Road: The Navi Mumbai coastal road is in progress from JNPT to Panvel Creek at Aamra Marg. These roads are intended to improve the connection between the cities of Kharghar, Belapur, and Nerul the southern cities of the JNPA Special Economic Zone (SEZ) and the future Navi Mumbai International Airport.
Railway Network: Metro lines 1 & 2 are in progress which will improve the internal connection of cities.
Investment Benefits
Panvel’s strategic location on the outskirts of Mumbai makes it a prime investment spot.
The city is undergoing significant infrastructure development, these projects will improve connectivity and drive economic growth in the region, increasing property values.
As compared to Mumbai and other nearby cities the property rates are lower in Panvel.
Due to the city’s growth prospects and increasing demand for real estate, investors have the potential to earn substantial returns on their investments over the long term.
Currently, Panvel is offering around 4-6% rental yield.
Also, Panvel is part of the Smart Cities Mission, which focuses on sustainable urban development. This ensures that the city will adopt modern technology and infrastructure, enhancing its overall quality of life.
Wadhwa The Reserves Panvel offers an opportunity to buy plots in Navi Mumbai.
These plots are situated around the serene surroundings starting from Rs 90 L.
Kharghar
Kharghar is a planned township in the Navi Mumbai metropolitan area and has gained prominence as a desirable residential and commercial destination.
Kharghar is strategically situated on the Sion-Panvel Highway (National Highway 4), making it well-connected to Mumbai, Pune, and other major cities in the Mumbai Metropolitan Region (MMR).
Its proximity to the Mumbai-Pune Expressway further enhances its accessibility.
In the last 5 years, the property rates in Kharghar have increased by 18.8%.
The real estate market has been growing, making it an attractive destination for investors.
The most awaited commercial development BKC 2 is planned to be constructed in Kharghar. This will increase the demand for residential housing in this locality.
Educational and Healthcare Facilities
Kharghar has emerged as an educational hub with the presence of several reputable institutions like the NIFT (National Institute of Fashion Technology), Bharti Vidyapith, YMT College of Management and other prominent colleges and schools.
This has attracted students and professionals to the area.
Kharghar offers a range of healthcare facilities, including Tata Memorial Hospital, Om Sanjeevan Hospital, Medicover Hospital and more.
Investment Potential
Kharghar offers substantial investment potential in the real estate market. Its strategic location in the Mumbai Metropolitan Region (MMR) makes it highly desirable.
The area has witnessed significant infrastructure developments, including Navi Mumbai International Airport, BKC 2, and the upcoming Kharghar Turbhe Tunnel.
These projects will enhance connectivity and stimulate economic growth, potentially leading to property value appreciation.
With ongoing projects and a growing population, it presents opportunities for both capital appreciation and rental income, making Kharghar the best location to buy plots in Navi Mumbai for real estate investors.
Ulwe
Ulwe has been emerging as a promising location to buy plots in Navi Mumbai. Its strategic location provides easy access to Mumbai via the Mumbai Trans-Harbor Link, making it attractive to commuters and businesses.
Ulwe offers relatively affordable real estate options compared to Mumbai. This affordability has drawn both developers and investors to the region, seeking higher returns on investment.
In the last 5 years, the property rates in Ulve have seen growth of around 12.8%.
Being located along the coast of the Arabian Sea, Ulwe boasts scenic views and a pleasant coastal environment, which adds to its appeal as a residential destination.
Infrastructure Developments
One of the most significant infrastructure projects in Ulwe is the Navi Mumbai International Airport. It will provide convenient air travel options for residents and businesses.
The Mumbai Trans-Harbor Link, also known as the Sewri-Nhava Sheva Trans-Harbor Link, is a vital infrastructure project that will connect Ulwe to Mumbai.
This bridge will significantly reduce travel time between the two areas and alleviate traffic congestion.
Ulwe is part of the Smart Cities Mission, which focuses on urban development with a strong emphasis on technology, sustainability, and improved quality of life.
These initiatives aim to make Ulwe a modern and well-planned city.
Growth Predictions
Ulwe, a locality in Navi Mumbai, is poised for substantial growth in the coming years, driven by several key factors:
- Navi Mumbai International Airport and MTHL will improve connectivity, attract businesses, and stimulate economic growth in the region.
- The presence of educational institutions and healthcare facilities enhances Ulwe’s livability, making it an appealing choice for families and professionals.
- The locality offers around 5-6% rental yield, making it a promising destination for both living and investment.
Taloja
Taloja is a rapidly developing locality situated in Navi Mumbai. It has garnered attention for its strategic location, connectivity, and growing real estate market.
Taloja is strategically positioned between Kharghar and Panvel, two major nodes in Navi Mumbai. Its proximity to these areas and easy access to Mumbai via road and rail make it an attractive destination for both residents and businesses.
In the last few years, this locality has witnessed major growth, and the property rates have increased by 16%.
Both residential and commercial projects have been flourishing, providing a range of housing options and opportunities for businesses.
Amenities and Infrastructure
Taloja benefits from good connectivity to Mumbai and other parts of Navi Mumbai.
It is well-connected to major highways including the Mumbai-Pune Expressway and the Sion-Panvel Highway and has proximity to the Taloja Railway Station, ensuring ease of commuting.
Moreover, ongoing infrastructure developments, such as road expansion and upcoming Metro connectivity, are further enhancing accessibility.
Taloja offers a range of social amenities to its residents. These include schools, colleges, hospitals, shopping complexes, and recreational facilities.
Current Market Trends
Taloja has shown positive price trends in recent times. Property prices have been on the rise, making it an attractive location for real estate investment.
The average transaction rate of properties in Taloja, Navi Mumbai, is approximately ₹9,000 per square foot on average.
The growth in property prices indicates the potential for good returns on investment in the future, making it the best location to buy plots in Navi Mumbai.
Ghansoli
Ghansoli is another best place to buy plots in Navi Mumbai, offering several advantages and benefits due to its geographical position and connectivity.
Ghansoli enjoys excellent connectivity to other parts of Mumbai and Navi Mumbai. It is well-connected to the Mumbai-Pune Expressway, Eastern Express Highway, and Thane-Belapur Road.
The presence of the Ghansoli railway station further enhances accessibility for commuters.
Ghansoli benefits from ongoing and planned infrastructure projects, such as the Navi Mumbai International Airport and the Navi Mumbai Metro.
Despite its urban development, Ghansoli is close to natural attractions like mangrove forests and the Thane Creek.
This offers residents a balance between city life and natural surroundings.
Commercial Opportunities
The area has witnessed significant growth in the IT and commercial sectors.
Ghansoli is situated in close proximity to major business hubs in Navi Mumbai, including Millennium Business Park and Airoli Knowledge Park.
This proximity makes it an attractive location for professionals and businesses, as commuting to work is convenient.
Price Trends and Future Outlook
Ghansoli has experienced positive price trends in the real estate market. The property rates have increased by 15.6% over five years, reflecting increasing demand and value.
The future outlook for Ghansoli appears promising due to its strategic location, infrastructure developments, and growing commercial sector.
Property values are expected to continue appreciating, making it a potentially lucrative investment destination.
Buying plots in Navi Mumbai can be a significant investment, and it’s essential to make an informed decision.
Here are some valuable tips to consider when purchasing plots in Navi Mumbai:
- Research the various localities in Navi Mumbai. Consider factors such as proximity to your workplace, schools, hospitals, and other essential amenities.
- Evaluate the neighbourhood’s infrastructure and connectivity to major roads, highways, and public transportation.
- Verify the land title and ownership documents to ensure that the seller has legal ownership rights to the plot.
- Check for any pending legal disputes or encumbrances on the property.
- Visit the plot in person to assess its physical condition, boundaries, and surroundings.
- Check for any land disputes, encroachments, or unauthorized constructions on or near the plot.
- Understand the land use and zoning regulations in the area.
- Assess the resale potential of the plot. Research historical price trends in the area to gauge its investment value.
- Consult with a legal advisor or real estate lawyer to review all documents and contracts related to the plot purchase. Homebazaar.com provides expert assistance for buying plots in Navi Mumbai.
- Ensure that all necessary documentation, including the sale deed, is executed correctly. Register the property with the appropriate authorities as per local laws.
Remember that purchasing a plot is a significant financial decision, and it’s crucial to take your time, do thorough research, and seek professional advice to make a well-informed investment.
FAQs
| Is it worth buying plots in Navi Mumbai?
Yes, buying plots in Navi Mumbai can be a worthwhile investment. The area has shown positive growth trends in real estate, making it a promising choice for property buyers and investors. |
| Which is the best area to live in Navi Mumbai?
The best area to live in Navi Mumbai can vary depending on individual preferences. Some popular residential areas include Panvel, Kharghar, and Seawoods, known for their amenities, connectivity, and quality of life. |
| Which is the most developing area in Navi Mumbai?
Ghansoli, Taloja, and Panvel are among the most developing areas in Navi Mumbai. They are witnessing significant infrastructure developments, making them attractive for both residential and commercial purposes. |
| Is it the right time to buy plots in Navi Mumbai?
The timing for buying plots in Navi Mumbai depends on your financial situation and investment goals. Given the positive growth trends and ongoing developments, it is a good time for property investment. |
