Why Buy Property in Navi Mumbai?

Property at Makaan.com

Developed to ease Mumbai off its jams, bottlenecks, and congestion due to overpopulation, the planned city of Navi Mumbai is the hot-spot for real estate. Comprising of many modern and well-planned localities like Vashi, Panvel, and Khargar, the city is deemed as a gainful and money-making market by the property developers, middlemen, and owners. The land is cheap here as compared to Mumbai and due to all the infrastructural facilities available, the developers have been reaping huge profits.

From a buyer's point of view too, purchasing a property in Navi Mumbai can be considered a fine option, considering the fact that the cost of purchasing as well as room rentals are comparatively cheaper if compared to the metropolitan Mumbai. A semi-furnished 2-BHK, 1050 sq. ft house on rental in a place like Khanda colony can be available at Rs. 7000/- while the same could cost anywhere between 20-80k in Kandivali (E)! In Navi Mumbai itself, a 1-BHK room is available for buying with price as low as 6 lacs, a figure that is difficult to imagine for a flat on Andheri-Dahisar road. This huge difference in price makes buying and selling flats in Navi Mumbai a cost-effective solution for lower and middle class.

Looking at amenities that the city offers, one is not disappointed. With a wide transport of network available in the form of BEST and NMMT buses, commuting to and from the city is not much of a problem. Some of the proposed projects like Vashi bridge, an airport to decongest traffic, a railway line connecting Vashi to Mankhurd have attracted the real estate investors here. Places like Ulwe, Vashi, and Panvel seem to be most promising Navi Mumbai property hubs. With many top-notch companies like Reliance, Patni, TCS, and others already made the place their stronghold, the future of real estate is bound to tread a positive trajectory.

In terms of modernization and facilities available, one can say that they are at par with other cities of Mumbai. The presence of  multiplexes, hospitals, schools, banks, restaurants and malls make the place alluring enough to buy property in Navi Mumbai.

Regarding the price trends over last 12 months, one can say that there is an increase of about 6%, While the psf (per square feet) figure in last July stood at Rs. 5470, this July, it is Rs. 5819. But over last three months, the prices of properties in Navi Mumbai saw a slight dip of 0.48%.

Buyers can search for flats/apartments/plots/shops/restaurant in the city over  major real estate sites. Makaan.com, India's fastest growing property website, has the listing of projects from leading builders and land owners.