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Why Is Navi Mumbai Getting Popular Among Homebuyers?

Blox Social
Posted on
Dec 5, 2022

Mumbaikars revel in the vibrancy, entrepreneurial spirit, unfailing diligence, resilience, and cultural richness of Mumbai. With the dynamic growth of the city and its burgeoning population, however, more and more homebuyers are looking at Navi Mumbai to provide them with the quality of life they seek.

Navi Mumbai is part of the Mumbai Metropolitan Region (MMR) and is located to the east of Mumbai city, across the bay. With more and more businesses, retail chains, banks, and business enterprises moving to the Mumbai suburbs and Navi Mumbai, the demand for residential flats in Navi Mumbai, too, has seen a considerable rise.

Let us take a look at some of the top reasons why Navi Mumbai is the new hotspot amongst home buyers.

  • Planning & More - Navi Mumbai is one of India's most beautiful planned cities. The infrastructural support the city continues to receive is phenomenal. CIDCO, the organisation responsible for planning the city, has divided it into Nodes and Junctions for easy navigation. The roads are wide, the sidewalks clean and well-constructed, and the railway stations are equipped to accommodate the growth in population. Navi Mumbai has a personality. The new projects and properties in Navi Mumbai are architectural marvels, and the city’s street graffiti is nothing short of iconic.
  • Connectivity Above All - Anyone who has lived in Mumbai can attest to the fact that connectivity is the very lifeline of the city. The Trans-Harbour line connects Navi Mumbai and Thane with Thane, Vashi, Nerul, and Panvel stations serving the Navi Mumbai area. Wide roads, excellent public transportation, and nearly no traffic congestion - Navi Mumbai is certainly the upgrade Mumbaikars have wanted for decades. The upcoming Navi Mumbai International Airport will make domestic and international travel convenient and connect Navi Mumbai with the world.
  • Open Air & Green Spaces – Navi Mumbai is like a fresh breath of air. Quite literally. CIDCO planned the city around natural surroundings rather than eliminating green spaces. The garden spaces designed by CIDCO are among the favourite features of Navi Mumbai. Thousands of migratory birds make Sagar Vihar and the Vashi and Airoli creeks their home each year. Nature enthusiasts, ornithologists, photographers, and even those who look forward to a cleaner, greener home are looking for Navi Mumbai real estate.
  • Mumbai But Better – Navi Mumbai has all the advantages of urban living that Mumbai offers and takes the quality of life up a notch. It is ranked fifth among the cities in the country by the Swachata Abhiyan index. It is a higher education hub with many engineering, medical, fashion, hotel management, and business administration colleges setting up campuses here. The city has a number of swanky malls, multi-speciality hospitals, quaint cafes and delis, bars and clubs – just about everything you need to live ‘the good life’. The D.Y. Patil sports ground is now nearly as popular as Wankhede Stadium.
  • ROI Matters – Buying a home is a financial decision that will significantly impact your life. This means that the asset appreciation and the ROI play a significant role in your decision to buy a residential property in New Mumbai. Average property rates vary vastly depending on the project and locality but overall, the appreciation of property value in Navi Mumbai has been significant. In fact, in areas like Dronagiri and Panvel, the year-on-year property value appreciation has been nearly 15%. This is one important reason investors are showing a great deal of interest in properties in Navi Mumbai.

Navi Mumbai is well on its way to becoming the next IT hub of Maharashtra. With some of the top companies, such as Indian and international corporations moving to Airoli, this part of the city is all set to see a phenomenal rise in homebuyers and investors.

Real Estate