Having earned the tag of being a planned city, Navi Mumbai has gained much traction over the years. Part of the Mumbai Metropolitan Region (MMR) and located in the Konkan division of Maharashtra state, the city has an area of 108.6 sq km with a population of over 15 lakhs. Approximately 25 km from the country’s financial capital, Navi Mumbai is emerging as one of the hotspots for infrastructure, investment, and connectivity.
One of the most booming sectors in the city continues to be the real estate market, with developers planning many projects. Look at some of the most investible locations to invest Navi Mumbai and some of their key features.
Other areas worth parking your money in, especially for real estate, include Kolshet Road, Kalamboli, Karanjade, Ulwe and Ambernath. Now that we’ve addressed the prime locations worth investing in let’s dive into the benefits of investing in properties in Navi Mumbai. The MMR areas have witnessed a 30% jump in price per sq ft since 2015.
1. Improved Standard of Living
Navi Mumbai is the ideal place for citizens looking to escape the hustle and bustle of Maximum City. The residential sector has been rising for a while, offering spacious and luxurious houses at the most affordable prices. For example, a 1BHK in a prime location like Taloja could cost you a starting estimate of ₹16 lakhs and upwards.
The planned city offers an efficient network of roads and railways, with things only about to get better in terms of transportation after completing the Navi Mumbai International Airport. The recent inauguration of the Mumbai Trans Harbour Sea Link is evidence of growing connectivity in the city. Upcoming projects like the Navi Mumbai Metro Line 1, coastal road, and water taxi/transportation hold much promise.
Considering the growing demand in Navi Mumbai, ample evidence suggests that investment, especially in real estate, is expected to yield worthwhile returns. The city has been attracting a lot of foreign investors too.
Navi Mumbai is home to some of the most renowned schools, colleges, and universities. Here are a few names.
Navi Mumbai has an international stadium called DY Patil Stadium and is also the home ground for ISL team Mumbai City FC. There are plans to develop two 18-hole golf courses academies in the city too.
In conclusion, Navi Mumbai is the place to be, given its potential in the coming years, especially for the middle class struggling in an expensive city like Mumbai.
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