Why Navi Mumbai is the Next Real Estate Hotspot: Top Reasons Revealed

For many real estate buyers, a Navi Mumbai property is often top of their wish list – and for good reason. Modern-day Navi Mumbai is a planned city that offers a perfect blend of urban development, natural beauty and connectivity. It is one of the fastest-growing cities in India, attracting investors, homebuyers and businesses alike. 

Lying on the periphery of Mumbai, it provides the perfect opportunity for investors to purchase a property that is both cheaper and potentially bigger than an average Mumbai property. On top of that, if you buy a home in Navi Mumbai, you also have the opportunity to escape the hustle and bustle of the booming metropolis.

Without further ado, here are the top six reasons why Navi Mumbai is the next real estate hotspot that you should consider investing in.

• Excellent Infrastructure

Navi Mumbai boasts of world-class infrastructure, including wide roads, flyovers, metro rail, airports, IT parks, malls, hospitals and educational institutions. The city is designed to accommodate the growing population and provide a high quality of life. According to a report released by the Ministry of Housing and Urban Affairs, Navi Mumbai ranks 6th on the list of India's Ease of Living Index of most liveable cities, based on various parameters such as governance, social infrastructure, education, health and safety. In comparison, Mumbai ranks 10th.

• Affordable Housing

Compared to Mumbai, Navi Mumbai offers more affordable and spacious housing options, ranging from studio apartments to luxury villas. The city has several reputed developers who offer attractive schemes and amenities to suit every budget and preference. As per the current industry norms, the average price of residential Navi Mumbai property is around Rs. 7,000 to Rs. 9,000 per sq. ft., which is much lower than the average price of roughly Rs. 20,000 per sq. ft. in Mumbai. Research also suggests that an average Navi Mumbai property, especially a residential unit, is larger compared to an average Mumbai residential unit, with 900 sq. ft. being quite the norm for the former. 

• Strategic Location

One of the biggest perks of having a property in Navi Mumbai is the convenience of commuting, thanks to the location. Since Navi Mumbai is strategically located between Mumbai and Pune, two of the most important economic hubs of India, it is well-connected by road, rail and air, making it easy to commute and travel. The city also has proximity to the upcoming Navi Mumbai International Airport, which will boost its connectivity and value further. According to CIDCO, the airport is expected to handle 60 million passengers per year by 2030, making it one of the largest airports in the world.

• Green and Clean Environment

Owing to the increase in popularity of sustainable, healthy, clean, and green living, many property buyers are looking to move out of congested and polluted Mumbai locales. This is where Navi Mumbai, which is surrounded by hills, water bodies and green spaces, creates a serene and pollution-free environment. The city has been awarded the Best City Award by the Ministry of Housing and Urban Affairs for its cleanliness and sanitation. The city also has several parks, gardens, lakes and recreational zones for the residents to enjoy.

• Employment Opportunities

Navi Mumbai is home to several multinational companies, IT parks, SEZs and industrial zones, creating ample employment opportunities for the residents. These include the likes of Millennium Business Park, Ghansoli, Mindspace Airoli, Airoli Knowledge Par, etc. The city also has a thriving start-up ecosystem, with several incubators, co-working spaces and innovation hubs. The city also offers a conducive environment for entrepreneurship and skill development. Navi Mumbai has also being ranked high in the list of India's emerging start-up hubs.

• Future Growth Potential

Navi Mumbai has a huge potential for future growth, as it is expected to witness a surge in population, income and demand in the coming years. The city also has several upcoming projects, such as the Navi Mumbai Airport Influence Notified Area (NAINA), which will create a smart city with integrated development. The city also has scope for further expansion and development, as it has ample land availability and planning. 

Final Thoughts

These were the various factors that make Navi Mumbai a desirable destination for real estate investment. In a nutshell, Navi Mumbai offers a blend of urban amenities and natural beauty, with a planned and sustainable development model. For the informed buyer, various options are available, ranging from affordable housing to luxury apartments, from commercial spaces to IT parks. Navi Mumbai is a city that has something for everyone, and is poised to become one of the most sought-after locations in India.