6 Residential Hotspots in Navi Mumbai that Homebuyers Prefer

Mumbai offers its residents an incredible lifestyle and living experience. The expansion of the Mumbai Metropolitan Region, however, is prompting development across several other hubs such as Navi Mumbai. Navi Mumbai's emergence as a coveted residential destination can be attributed to three factors:

1. Better connectivity to workspaces: With more industries, retail corporations, and businesses moving out of congested locales in Mumbai, employees are looking to buy a residential property in the vicinity of their work establishments.
2. Well-planned infrastructure: The social capital and highly developed infrastructure of Navi Mumbai make it more attractive to young families and home buyers.
3. Green spaces: The need for clean, green, and open spaces is another real need motivating homebuyers post-COVID-19.

Let us look at the top 6 emerging residential nodes of Navi Mumbai and what they offer.

Kharghar – Kharghar tops the list of preferred neighbourhoods for homebuyers in Navi Mumbai. The highly developed infrastructure and the proximity to the Belapur CBD (Central Business District) are some of the most significant advantages for those who are looking to make Kharghar home. Moreover, the demand for flats in Navi Mumbai is set to go up as the upcoming six-lane corridor to the new airport and the subway connecting Kharghar to Mumbai take shape.

• Population (2020 estimate) – 3,26,810
• Nearest railway station – Kharghar Railway Station
• Average property cost – INR 9380 per sq ft

Panvel – Panvel is another emerging market and a favourite for those who seek to buy property in Navi Mumbai. Panvel's affordability and infrastructure are its greatest advantages. Panvel offers excellent connectivity to both Mumbai and Pune, and with the launch of work on the Navi Mumbai International airport, residential real estate in the neighbourhood is booming. In addition, the upcoming CST-Panvel rail corridor will make commuting to Mumbai easy.

• Population (2020 estimate) – 2,79,656
• Nearest railway station – Panvel Terminus
• Average property cost – INR 7088 per sq ft

Taloja – Taloja is Navi Mumbai’s best kept secret. Some of the most prominent industries of Maharashtra, such as Hindalco Industries Ltd and Kellogg India, have set up their units in the vicinity prompting employees to look for flats in Taloja. With the excellent infrastructure, connectivity, and real estate price, much lower than in other Navi Mumbai neighbourhoods, the surge in demand here can be quite easily understood.

• Population (2020 estimate) – 9,640
• Nearest railway station – Taloja Terminus
• Average property cost – INR 5430 per sq ft

Sanpada - Sanpada is one of the few Navi Mumbai neighbourhoods that is located in the Thane district. Sanpada's greatest advantage is its central location and proximity to Ulwe, Taloja, and Kharghar business districts while offering easy access to the BKC and Mumbai. Sanpada is perfect for homebuyers who are looking at high-rises and luxurious flats while also looking for great schools, colleges, and hospitals in the vicinity.

• Population (2020 estimate) - 1,26,289
• Nearest railway station – Sanpada Railway Station
• Average property cost – INR 15,374 per sq ft

Ulwe – Ulwe is another micro-market that has seen a boom in demand these past few years. Its proximity to International Infotech Park, Raheja Arcade, and the Navi Mumbai SEZ make it a preferred choice of home buyers in Navi Mumbai. In addition, the Ulwe node is a nature-lover's paradise with an extensive ecosystem surrounding it.

• Population (2020 estimate) - 1,68,567
• Rail Connectivity – Bamandongri, Kharkopar, and Targhar railway stations
• Average property cost – INR 7,739 per sq ft

Nerul – Another investment opportunity homebuyers do not want to miss is buying a property in Nerul, Navi Mumbai. While property prices in Nerul are higher than those in Panvel or Kharghar, the projects are upscale with great amenities as well. Nerul is the perfect mix of commercial and residential sectors, and the excellent connectivity makes it very attractive. In addition, this neighbourhood has several colleges, such as Dr D Y Patil College and Terna Medical and Engineering College. This has led to a high demand for 1BHK flats in Navi Mumbai from students and young professionals.

• Population (2020 estimate) – 2,43,317
• Rail Connectivity – Nerul Railway Station
• Average property cost - INR 14,183 per sq ft

Apart from these, several other nodes and neighbourhoods in Belapur, Airoli, Koparkhairane, Kamothe, and Roadpali are also evolving rapidly. In fact, many reports suggest that the demand in these places is outdoing the demand for flats and apartments in established neighbourhoods of Mumbai. If you are looking to invest in Navi Mumbai real estate this is possibly the best time to go ahead.