Navi Mumbai has steadily transformed into a leading financial, business, and real estate hub over the last decade. Those looking for an apartment flat for sale increasingly prefer the region for its stellar growth and development in recent years. Improvements in connectivity and social infrastructure have contributed immensely towards the expansion of the realty market in the area.
Leading developers are developing townships, gated residential communities, and luxury, mid-range, and premium residential projects in Navi Mumbai. Some of the top players in the region include Arihant Superstructures Limited, Indiabulls Builders, Kalpataru Limited and Kanakia Spaces Realty. Others include Aurum Ventures, Balaji Group, Future Homes, Godrej Properties and Hiranandani Developers. Availability of land and multiple projects are contributing towards making Navi Mumbai an attractive destination for investing in an apartment flat for sale.
Core aspects behind Navi Mumbai’s transformation
Investing in real estate is a viable proposition in Navi Mumbai, due to several key connectivity developments. These include the following:
- The upcoming suburban railway corridor between Panvel and Karjat.
- Development is gaining pace at the Navi Mumbai International Airport.
- The expansion of the metro railway network and the Mumbai Trans-Harbour Link.
- Improving bus connectivity throughout Navi Mumbai and areas like Borivali, Dadar, and Vasai.
- MTHL project to link Ulwe and Dronagiri.
- The Ulwe-Belapur railway line and Mumbai-Goa Highway expansion.
Several other factors have propelled Navi Mumbai into the spotlight. Areas like Dronagiri, Kharghar, Panvel, Karjat, Ulwe, and Neral are becoming preferred choices for buyers. They are seeing steady traction from corporates, HNIs, businesspersons, and NRIs. Even upcoming areas like Kamothe, New Panvel, Kalamboli, Shilphata and Kalamboli are witnessing skyrocketing growth. In stark contrast to Mumbai, which is a saturated market, Navi Mumbai has vast land parcels for development, attracting Grade-A developers in large numbers. CIDCO has also taken proactive initiatives towards the city’s civic development.
What are some other factors driving Navi Mumbai’s growth?
Integrated communities and townships are immensely popular in Navi Mumbai. Buyers prefer them for the open spaces, spacious apartments, availability of top-notch amenities, and elevated lifestyles. Soaring demand has also contributed toward handsome price appreciation in the last few years. Navi Mumbai’s prominence as a business hub is evident through several positive developments in recent times. Google has already taken 3.81 lakh sq. ft. on rent in Navi Mumbai for 28 years. The Thane-Belapur Road is fast becoming a major hub for commercial parks, while the MIDC in the Mahape-Airoli stretch is another addition.
Berkshire Hathaway HomeServicesOrenda India has committed to the development and operations of social and physical infrastructure assets in Raigad. The plot covers 1,000 acres near the upcoming international airport. Berkshire Hathaway India will create the ecosystem for commercial, industrial, educational, residential, and healthcare projects. The international airport should start operations by end-2024 as per estimates.
Navi Mumbai is one of India’s most liveable cities today, with excellent civic and physical infrastructure. Connectivity developments, green areas and parks, and other social infrastructure are present in abundance. From multiplexes and shopping malls to movie theatres, restaurants, gardens, and fitness facilities, the sky is the limit. One of the core USPs of Navi Mumbai is that it is a well-planned city. Buyers seeking an apartment flat for sale will find several options available at Blox. Investments in this fast-growing city are expected to pay off handsomely in the long run, with future boosts to commercial growth and connectivity alike.
