Navi Mumbai's real estate market has been a pretty stable one so far. However, it hasn't escaped from the impact of recession and property prices have come down in almost every area.
Navi Mumbai's real estate market has been a pretty stable one so far. However, it hasn't escaped from the impact of recession and property prices have come down in almost every area. This is good news for prospective home-buyers as Navi Mumbai offers an ideal combination of solid infrastructure, posh lifestyle options and good housing supply. Here's a countdown on the five places in Navi Mumbai where you can go house hunting:
Kharghar
Steady infrastructural growth and good connectivity make Kharghar a popular home-buying choice. "A lot of projects are coming up all over Kharghar, including budget housing ones. There is good development in sectors like 2, 4 and 10 as well as the Roadpali node," says Suresh Wavia, managing director, Ravechi Group.
Rates: Prices start from Rs 3, 500 per sq ft onwards and go up to Rs 4,500 per sq ft," says Wavia.
Advantages: Kharghar is well-connected by road and rail.
Besides good civic infrastructure, it has good recreational options like malls, multiplexes, restaurants, parks, etc.
Builders like Supreme Group, Arihant Universal, Kamdhenu Builders, Lakhani, etc are coming up with projects in this area.
The proposed airport, SEZs, Central Park and other projects will hike up property rates in the area in the future which makes Kharghar a sound investment.u00a0
Koper Khairane
Koper Khairane's proximity to Vashi and railway stations like Koperkhairane and Rabale makes it a viable option.
National, Swaraj Developers, Haware, Shree Sawan Builders have come up with good projects in this area.u00a0
Rates: They range from Rs 3,000- Rs 3,500 per sq ft.
Advantages: This area has a number of schools, colleges, hospitals, etc.
There is no dearth of cool hangouts in the area. D'Mart, More, V Mart are the main retail outlets. Jewel of the Ocean, NH-17, Panchratna are some of the good restaurants in the area.u00a0
Koperkhairane is well-connected to Palm Beach and the Shilphata road.u00a0
Kamothe
For those looking for budget homes, Kamothe is a great option. It is close to Mansarovar and Khandeshwar railway stations, so travelling is no issue at all.
Rates: "Rs 2,400 per sq ft to Rs 3,000 per sq ft," says Rajesh Prajapati, managing director, Prajapati Group.u00a0
Advantages: Kamothe is cheaper than other areas in Navi Mumbai and is ideal for those with a budget of Rs 15-20 lakhs.
The supply of housing is good with builders like Giriraj Enterprises, Pratik Gems, Triveni Developers, Haware, etc coming up with new projects.
Panvel and around
The speedy development in and around Panvel has made it a good home-buying destination. Many affordable township projects are coming up in Kalamboli and old Panvel. New Panvel is well-developed with a number of schools, colleges, banks, shops, restaurants.u00a0
Rates: Rs 2,000 to Rs 3,000per sq ft.
Advantages: A lot of real estate development is happening at Khanda Colony at New Panvel (West).
The area is well connected by trains and buses.
It's a green and clean locality with parks in every sector.u00a0
A couple of malls are coming up in New Panvel.u00a0
Haware Builders are coming up with a township project at Pagde Village, Kalamboli.u00a0
Palm Beach Road
Property prices along the much-coveted Palm Beach Road have undergone a correction in the past six months.
The area near Nerul and Sanpada has a number of under construction buildings with unsold flats. They have easy accessibility to civic and social amenities.
Rates: Rs 5,000 to Rs 6,500per sq ft.
Advantages: Palm Beach Road has a number of lifestyle homes with good amenities.
It is well connected to all the areas from Vashi to CBD Belapur.
There are malls like Palm Beach Galleria and City Centre in Palm Beach Road.
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