Navi Mumbai – A Haven for Affordable Properties
As you know, Mumbai property prices are higher than the average person. If you are not a millionaire like Mukesh Amban or Bollywood King Shahrukh Khan, you may have forgotten about your real estate in Mumbai. But for those on a budget, not all hope is lost. The Navi Mumbai area is coming up with affordable housing projects that can answer your prayers.
Navi Mumbai is already in high demand for residential real estate Flats for sale in Mumbai . There are many factors that bring people to this field. Infrastructure is important here. There are already good road and rail links to Mumbai and Pune. Many infrastructure projects are planned including Metro, Mumbai Transport, Navi Mumbai International Airport. The real estate industry was very happy when the airport plan was announced. However, the project did not go as expected, leading to lower property prices. It was revived when the Maharashtra government intervened and removed obstacles to the project. When all projects are nearing completion, real estate prices will only increase in the areas that benefit.
Another reason why Navi Mumbai attracts real estate seekers is the area’s special economic zones, IT parks and other job-creating areas. Most of the real estate job seekers in Navi Mumbai are workers.
Affordable housing in Navi Mumbai ranges in price from 4000 to 6500 psqft. The regions that can be seen in Navi Mumbai are Panbell, Ulwe, Kharghar, Karanjade and Taloja. Here is an apartment for 108,000 rupees. Affordable projects here include Sinic Ozone, Water Edge, Vaastusiddhi Alps, and Golden Empress. If you want to buy an Flats for sale in Hyderabad for less than Rs 400,000 then look out for Wolves, Panbells, Kamothe, Biller West and Mira Road. Taroja has become a great destination for affordable accommodation. About 80% of buyers prefer a 1BHK apartment.
Real estate in Kerghar and Aeoli regions has grown 40-80% over the past five years. This trend should continue with increasing demand for infrastructure projects and good execution.