Navi Mumbai Property

It is well known that Navi Mumbai is considered as the financial capital of the nation and real estate developers have been making good use of the financial value of the city. It is occupied by a number of immigrants, and folks are finding places close to the city for trading and other activities.

It is not as jam-packed as Mumbai, but many business enterprises have shifted to this city for finding cost effective business solutions, and the city has gained a great commercial value over the past few years. Appreciation in Navi Mumbai property rates has been further facilitated by the launch of international airport, best-in-class infrastructure and plethora of tourist places.

In order to develop a planned city, the builders are coming up with ultra luxury deluxe flats and sky-touching commercial buildings. Most of the new projects in Navi Mumbai real estate market are coming up in the outskirts of the city to take advantage of the low prices, but looking at the current trends, pricing would soon go high even in those secluded areas.

Current Property Trends

Navi Mumbai real estate rates have undergone massive transitions in the last few years. If you closely examine the price trends in Navi Mumbai property market, values in metropolis have raised by about 10 times in the previous decade.

Tremendous increase in the property rates, instability in the work fields and soaring rate of interests have kept a lot of potential buyers away.

You can make your second home a clever investment and the areas in the Navi Mumbai real estate sector that have a great demand at the moment, are Palm Beach Road, Ghansoli, Kharghar, and CBD Belapur.

The pollution-free city is a good location for buying a second house, especially if you plan to spend your retired life in Navi Mumbai.

Due to the upcoming Metro project and International airport, even NRIs wish to invest on second homes in the city.

Property Prices in Navi Mumbai

Average cost of a 1000 sq. ft., 2 bed room residential flat in Nivaan Specity is 65-70 lakhs. While a 430 sq. ft 1 BHK villa/house in Kharghar costs more than 30 lakhs.

A 1000 sq. ft. 2 BHK house in Tajola Panchanand would cost you nearly 35 lakhs, while a 2400 sq. ft. 4 BHK residential apartment located around the Palm Beach would easily cost you in excess of 2-2.5 crores.

The residential apartment near Sea Woods are sold at about Rs. 8700 per square feet, and near Koperkhairane, the rates are slightly lower at Rs. 8800 per sq. ft. While in Panvel, it starts at just Rs. 2000 per sq. ft. Therefore, if you’re looking to invest in a Navi Mumbai property that’d appreciate a good deal, over the next 4-5 years, Panvel turns out to be a good bet.

The state-of-the-art 8000-10000 sq. ft. commercial properties at Charni Road are assessed at around Rs. 20 crores, while small 500-600 sq. ft. commercial showrooms or shops cost about 30-35 lakhs.

Upcoming Projects in Navi Mumbai

Indiabulls has come up with a new project near Navi Mumbai, offering 1BHK to 4BHK apartments. Indiabulls Greens will boast of all modern amenities like swimming pool, gymnasium, children’s play area, landscape garden, and much more.

The cost of 865 sq-ft, 1 bed room flat will start from Rs 4500/square-feet (total of INR 39 lakhs). The price rates of 1200 sq-ft 2BHK and 1670 sq-ft 3BHK apartment will be above 50 lakhs and 75 lakhs respectively, while the cost of 2250 sq-ft, 4BHK will touch INR 1 Crore.

Kalpataru builders have recently started a new project at Panvel, featuring 2BHK Kalpataru Riverside flats at Rs 5000 per sq. ft. Though the rates are pretty much on the higher side, you can be rest assured of a good 20-30% appreciation in the property value over the next couple of years.

Hiranandani has launched a new project in the Panvel region, featuring 2BHK and 3BHK Hiranandani Palace Gardens apartment. The price of the 1465 sq. ft. 2BHK and 1950 sq. ft. 3BHK flats are 57 lakhs and 80 lakhs, respectively. Going by the rapport of Hiranandani, the value of these 3BHK flats would quickly touch Rs. 1 crore in no time, so it’s a great opportunity to invest in!

Arihant builders are developing 2BHK flats with spacious living area, balconies and all top notch facilities like swimming pool, shopping complex and street lighting within the complex. Arihant Aradhna located at Khargar with 1100 sq. ft. 2BHK flat is currently being sold at approximately Rs. 48 lakhs (Rs 4300 per sq. ft.), and the flats with wide terraces are being sold at an approximate base price of INR 53 lakhs.