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An Overview of Belapur's Real Estate Market

Author
Blox Social
Posted on
Jun 18, 2023
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Navi Mumbai is fast emerging as a favourite destination for real estate investment among people seeking affordable property options in a cleaner and greener environment. Being one of India's largest planned satellite cities and its close proximity to the financial capital has further enhanced the popularity of this extended suburb of Mumbai. Among the various localities in Mumbai that are attracting investors in large numbers, Belapur is a highly popular choice. 

Developed as a premium housing hub, Belapur is an important locality of Navi Mumbai surrounded by other well-known localities like Khargar, Panvel, Taloja, Nerul, and Seawoods. The area was developed as a well-planned commercial and residential hub and is known for offering a wide range of property options for interested investors. In recent years, the area has come to be recognised as the commercial hub of Navi Mumbai and hence has been attracting investors in large numbers. 

Belapur proves to be a perfect destination for both buying and renting property, as is proven by the following insights.  

For Buying Property 

There are currently more than 250 properties available for sale in Belapur, with the average price of property standing at ₹ 20400.0 per square foot. The price of property in the area has increased by 22.5% over the past year. Riddhi Siddhi is a popular project in the area that offers healthy year-over-year growth of 3.6%. Bhumiraj Hills, Fine Lotus, and Tulasi Chambers are the much-awaited new housing projects expected to be completed in the next three years. Progressive Group, Priyanka Developers, and Maruti Group are some of the key developers operating in the area.

For Renting Property

The total number of properties available for rent in Belapur is greater than 150. The average monthly rent in the area is in the range of ₹16200 and ₹61300. For people seeking an affordable property with a monthly rental of less than ₹24000 per month, there are currently more than 40 options available in the area. More than ten properties in the area are available with mid-segment rental values ranging between ₹ 24000-₹29000 per month. The area also offers more than 80 premium properties with a monthly rental value that is greater than ₹29000 per month. Some popular housing projects for renting a property in the Belapur area include Forest Hills CHS, Kailash Nath Nilgiri Gardens, and Sonal Dev Con, Gopal Krishna. 

The boom in Navi Mumbai's real estate market is proving beneficial for its various localities, including Belapur. The reasons that attract investors in large numbers to this luxury residential and commercial hub are explained below: 

A Safe And Well-Developed Locality

Belapur is one of the most well-developed localities in Navi Mumbai, which makes it a great place to enjoy and peaceful and happy life with loved ones. The area is quite safe, and people can move on the well-lit roads at night without feeling fearful. The overall ambience of the neighbourhood is quite pleasant, and all the basic facilities and amenities are available within a short distance. There are many natural retreats to explore in the nearby areas, and the cleaner and greener environments ensure healthier living for the residents. 

Affordable Prices

Like most other localities in Navi Mumbai, Belapur offers great property options at much more affordable rates compared to Mumbai and Thane. Nearly 53% of all the property available for sale in the area is designed for residential purposes, while 34% of such properties are designed for commercial needs. A majority of projects in the area are developed in the form of multistory apartment complexes with mostly 1, 2 and 3-BHK configurations.  

A Growing Commercial Hub

Belapur is a growing commercial hub that ensures better employment opportunities for people within a short distance of their homes. This is also one of the key reasons that make investing in real estate in Belapur a great decision. It houses the Belapur CBD along with the offices of several government and corporate organisations, including CGO Complex, Hindustan Unilever Limited, Sai Chambers, Raheja Arcade, & GAIL Limited. In addition, the area is also home to various renowned schools, colleges, hospitals, and shopping venues. The locality is well-connected to different parts of Mumbai and Navi Mumbai by road and rail.

Conclusion

For people seeking real estate investment options that promise a high return, Belapur is the land of opportunities and an excellent place to call home!

Real Estate