Investing in Navi Mumbai: Why Flats are a Wise Choice

Real estate investors and prospective home buyers in Mumbai are constantly on the lookout for the location with the most potential, the micro market that is set to explode next. According to experts, the next real estate destination that is likely to zoom past our expectations is Navi Mumbai. Let's take a look at what is driving growth in the city and why it is a good time to invest in residential property here.

Why is Navi Mumbai a good investment destination?

Navi Mumbai's greatest advantage is that it is a planned city. Given Mumbai's burgeoning population, growth and development have been largely organic. At the same time, the City and Industrial Development Corporation (CIDCO) had the benefit of learning from Mumbai when planning for Navi Mumbai's future growth. Wide roads, world-class water and electricity systems, transport depots, and clean, green spaces with a highly urbanised outlook - these are what make Navi Mumbai very attractive to prospective homeowners. Add to this low congestion and a pollution-free environment, and it is not difficult to see why buyers are flocking to this city.

However, the driving force behind the real estate growth in Navi Mumbai remains the current and planned infrastructural development. The upcoming new international airport will service Mumbai and the entire western region. This is a focal hub around which we can expect the development of a number of housing projects in Navi Mumbai.

The MMRDA has embarked on a 22-kilometre, 6-lane expressway between Sewri and Navi Mumbai to improve connectivity to the new airport and this satellite city. According to reports, this project, now known as the Sewri Nhava Sheva Trans Harbour Link (officially Shri Atal Bihari Vajpayee Trans Harbour Link), is set to be the longest sea bridge in the country and is another reason property value in Navi Mumbai is on the rise.

A number of large corporations and PSUs have also decided to move to Navi Mumbai and take advantage of the affordable real estate and availability of the state. Apart from colleges and hospitals that are coming up in this city, several IT parks in Navi Mumbai are encouraging employees to invest in the vicinity. 

Should I invest in flats in Navi Mumbai?

If you want to invest in real estate, buying flats in Navi Mumbai is a good choice. The development of large-scale residential projects in the city has received a great boost from the infrastructural development currently being undertaken. These projects offer the homeowners many amenities and facilities, including green spaces, a clean and pollution-free environment, jogging and walking tracks, swimming pools, and fully-equipped gymnasiums. These sprawling projects include kids' playgrounds, sporting arenas, tennis courts, and even pet-friendly facilities. What you are investing in is more than just an apartment; it is a lifestyle choice. And for real estate investors looking to grow their portfolio, Navi Mumbai offers the potential for booming returns.

One of the most important factors in support of investing in flats in Navi Mumbai is affordability. You can now consider buying a 2 BHK or a 3 BHK flat for the same price as a studio apartment in many parts of Mumbai. A spacious, large apartment is every Mumbaikar's ultimate dream, and you can now turn it into a reality. More importantly, you are investing in a social fabric of people who can be part of a growing and thriving community. Navi Mumbai is certainly the right choice for you and your family.

Top location choices in Navi Mumbai

Airoli, Nerul, Vashi, and Ulwe are among the top neighbourhoods that homeowners and developers are focusing on. These are the nodes in Navi Mumbai with under-construction infrastructural projects and great lifestyle options. The new airport in Ulwe, in particular, has propelled the growth of this neighbourhood and the surrounding areas. Apart from these, Kalamboli, Karanjade, Kharghar, New Panvel, Panvel, Shilphata, and Taloja are neighbourhoods that are registering a high demand for housing in Navi Mumbai. These are also areas witnessing phenomenal commercial development, which is further likely to drive up real estate demand.

The trend of reverse migration to the suburbs from older neighbourhoods of South Mumbai is working out well in favour of Navi Mumbai. The idea of living in large gated communities and integrated townships is not something that Mumbai homeowners will pass up easily.