Navi Mumbai has touched new heights in connectivity infrastructure, manufacturing competitiveness, and long-term economic growth. Over the years, the city has been planned and developed by CIDCO (under the Companies Act of 1970) to meet the infrastructural needs of a modern metropolis. The Pradhan Mantri Awas Yojana (PMAY) housing scheme has also been a game-changer for the city. Under the scheme, as of 2021, Capacite Infra will construct 21,436 houses while L&T will build 23,432 houses with a combined cost of Rs. 12,000 Crores. A report from the Centre of Research Methodology revealed that the availability of homes and better places to stay were the major reasons that encouraged people to migrate to Navi Mumbai.[2] This has resulted in a renewed interest amongst home buyers and investors to plan their future in the city.
Apart from being a well-planned city, Navi Mumbai also houses interests of the leading developers in the country when it comes to commercial real estate. Infrastructure, connectivity, and the talent pool that the city offers are the driving force for the interest of the corporate world that is fast-moving to the city. Navi Mumbai is already witnessing a boom with the transformation of areas that were earlier industrial zones to prime IT parks and areas that offer exclusivity and amenities. An example of this kind is Navi Mumbai’s International Trade centre that sold out 90% units in 60 days and another upcoming commercial project Kamdhenu 23 West sold out 70% within 2 months.
It is adjudged amongst the top 3 cleanest cities in the Swachh Bharat Survey 2021. From great infrastructure, amenities, and connectivity to great pricing, here’s a list of the top 5 places in Navi Mumbai that are favourites amongst investors/homebuyers:
- Kharghar
Kharghar boasts of well-developed infrastructure with wide roads and is surrounded by the green Kharghar hills. It is located on the Sion-Panvel highway that links Navi Mumbai to Mumbai. The city is well-planned with its residential sectors and well served by NMMT (Navi Mumbai Municipal Transport). Kharghar is also considered the educational hub of Navi Mumbai, with international schools and higher educational institutions. Hospitals like Medicity hospital, TATA Memorial Cancer Hospital, and Fortis Hiranandani Hospital are also accessible from Kharghar. Moreover, the connectivity in and around the city will get a major boost with the upcoming projects, including the Navi Mumbai metro line and the Navi Mumbai International Airport expected to be operational by 2024. Apart from these social infrastructures, Kharghar’s infrastructural development pace has made it one of the favourite spots amongst homebuyers/ investors to invest. The Mumbai Trans Harbour Link, one of the longest sea links connecting Sewri to Nhava Sheva, will be a key aspect that will boost the economy and make it easier for people to travel from one distance to another. The BKC II project, spread over 300 acres- CIDCO’s mega-corporate hub, will also create greater opportunities for people. Moreover, the much-awaited Navi Mumbai International airport and the Turbhe-Kharghar Tunnel and Airoli-Katai Tunnel will open corridors for Kharghar in terms of commercial projects and provide direct access to the city by saving travelling time, respectively.
- Sanpada
Over the past few years, Sanpada has become one of the most happening places in Navi Mumbai. The Mumbai-Pune highway offers seamless connectivity to many prominent localities. It also has good connectivity to the Harbour line. The locality has several upcoming residential and commercial projects that have led to an appreciation in property prices. The presence of malls like Raghuleela Mall and Central Plaza, along with multiplexes, makes it a perfect destination for shoppers and movie buffs. In terms of connectivity, the proposed Navi Mumbai International Airport will prove to be a great growth driver for the locality.
- Thane-Belapur Road
Thane-Belapur Road is quickly becoming a unique business district for Navi Mumbai. Additionally, there is a large industrial zone in this area because of the development of Trans Thane Creek (TTC) MIDC, encouraging businesses to expand into these micro-markets of Navi Mumbai. Many of the leading commercial developers, such as Kamdhenu Realities, have already successfully established presences in the region because of its future growth potential. The Thane-Belapur Road is one of the largest industrial zones in the country. The locality is well-connected to the residential pockets in the eastern suburbs, including Kalyan, Dombivali, and the Mumbai-Pune Expressway. The locality is also well-connected by BEST buses and NMMT buses. It is said to be the next IT hub with developers like K Raheja Corp, The Wadhwa Group, and Haware, with nearly 2 million sq. feet of ‘Grade-A’ office space. The upcoming Navi Mumbai Metro will also enhance the connectivity of this locality.
- Panvel-Ulwe
Panvel and Ulwe are located southwest of Navi Mumbai and have been homebuyers’ top choices for some time. Ulwe provides connectivity to Seawoods, Nerul’s micro-markets, and the Central Business District (CBD) Belapur and has many employment hubs like Raheja Arcade, International Infotech Park, Navi Mumbai SEZ, etc. While Panvel provides great infrastructure, Ulwe is a correspondingly developing node. The Sewri-Nhava Link that started operations in 2019 along the Jawaharlal Nehru Port Trust (JNPT) has further enhanced the connectivity of Ulwe to the CBD.
- Airoli-Ghansoli-Kopar Khairane
This region of Navi Mumbai has seen a lot of development in recent years and has emerged as one of the most popular areas for investment and home buying. It offers excellent connectivity to Mumbai via the Eastern Express Highway and Thane-Vashi Railway Line. With good schools for kids, plenty of options for shopping & entertainment, and a variety of housing options, the Airoli-Ghansoli-Kopar Khairane area is an excellent choice for those looking to invest in or buy a home in Navi Mumbai.
The Bottom Line
Navi Mumbai is a rapidly developing modern city that offers an excellent quality of life. CIDCO has further plans for well-developed growth around the upcoming Navi Mumbai International Airport, which can only mean good things for the real estate market in Navi Mumbai. Hence, the city is a popular destination for investment and home buying with excellent connectivity and infrastructure.
Credits: constructionweekonline
