Buying a House in Navi Mumbai

It is a good idea to buy a house in Navi Mumbai.  It is being looked upon as a hot-shot investment opportunity.  Navi Mumbai has come a long way since the 1970s when the CIDCO was entrusted the development of Navi Mumbai-covering 95 villages and having 14 primary nodes. At first, Vashi and Nerul were the primary nodes of Navi Mumbai. However, over the years, many new modes have come into prominence in Navi Mumbai. This change has been promoted by the fact that CIDCO has allocated land to private builders since the late 90s, which brought about rapid development in the area, especially in the last decade.
CIDCO authorities continue to play an influential role in the infrastructure of Navi Mumbai, provider water, roads and other amenities.

Cost of house in Navi Mumbai 

Here you can buy houses that cater both to the middle-class and premium segment.  Affordable homes are within the range of Rs. 10 to Rs.25 lakh, good for individuals who are looking for a home close to Mumbai. Prices which would be at Rs.2000 per square feet about 5-7 years ago are now in the Rs.4000 per square feet range. As an investment opportunity, buying a house in Navi Mumbai may be fantastic.


Very good infrastructure:
Another good reason for rates to rise rapidly in Navi Mumbai is because of the good infrastructure.  The roads are wide and excellently planned.  Nodes like Kharghar are well-planned and have facilities like golf course, central park etc. Booking are routine still but there is promise of glamor.  There are other facilities like malls, multiplexes, shopping complexes, good schools, colleges, hospitals and also relatively eleaner environment.

Future prospects of Navi Mumbai
Green Scapes Group,  one of the builders is raising projects in Kharghar, Radipali and also coming up with commercial IT parks near Vashi station. It is precisely due to the presence of employment opportunities like SEZs, JNPT port and IT hubs that Navi Mumbai is witnessing rapid growths for. Also industrial corporates like Wipro, Reliance,  Tata Consultancy Servics and L&T have set base there.

Connectivity in Navi Mumbai:
Though there were connectivity issues, they have been largely resolved to a great extent in all areas with Navi Mumbai Municipal Transport providing bus services within Navi Mumbai. In some areas, even the BEST operates. The Sion-Panvel expressway project is also on the pipeline. The rail network has improved with plans for making Panvel into a terminus for long distance trains as well.

When will the Navi Mumbai airport be built?

 The ultimate feather in the cap of Navi Mumbai is the international airport, which will be built at New Panvel.  Once the airport is built, experts believe that the increase in real estate value will rise by a at least 30 percent. So, if you can do it, go ahead and buy or invest a home in Navi Mumbai and reap the rewards once the airport surfaces.