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April 2016

Navi Mumbai Ulwe Property Latest Price

Navi Mumbai Ulwe Property Latest Price – where we look at the increasing interest in this segment and the comparisons with various popular nodes in Navi Mumbai.

The Ulwe region is going to reap the advantages of having two Special Economic Zones (SEZs). One of them, the Navi Mumbai SEZ (Waterfront) is almost complete, while work on the Navi Mumbai SEZ (Airport) is underway. Both these SEZs are expected to impact the real estate market of the locality in a major way.

Planned by the Maharashtra Government and City and Industrial Development Corporation of Maharashtra Limited (CIDCO) in Ulwe, the Waterfront SEZ is spread over 80 hectare and the Airport SEZ has an area of about 500 hectare.

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Navi Mumbai Ulwe Property Latest Price

According to Sumit Jhetwani, a consultant with India Realtors, a brokerage firm active in the area, “Several home buyers from Mumbai and Navi Mumbai have already started investing in properties in the area. They are attracted by the prospect that once companies start coming-in they will bring new employees to the area. All these employees are then expected to buy or rent properties here.”

While overall real estate prices in the Mumbai Metropolitan Region have remained tempered, Navi Mumbai Ulwe Property Latest Price in areas such as Madh-Marve, Majiwada-Kasarvadavali and Ulwe are likely to get costlier if certain proposed transport infrastructure projects take shape as per the stated timelines, according to an industry report released Wednesday.

Real estate research and consultancy firm Knight Frank expects prices in the sea-front Madh-Marve to increase by about 14.2 per cent every year on the back of improved connectivity due to a proposed Versova-Madh sea bridge, and the Nariman Point-Kandivli coastal freeway. The geographic advantages of the two places may further blow up the property rates.
Similarly, properties in Majiwada-Kasarvadavali may get more expensive by about 11.2 per cent due to the state government’s plan of constructing a Metro rail corridor from Wadala to Kasarvadavali over the next five years.

The report estimates Ulwe to continue to see an uptick in price at 9.7 per cent rate per year. Prices here have already inflated over the past few years in expectations of the proposed Navi Mumbai International Airport and the much-delayed Sewri-Nhava Mumbai Trans Harbour Link.
Madh-Marve is the most expensive of the three destinations where Knight Frank has forecast a growth with an average rate of Rs 13,500 per square feet. Property at Majiwada-Kasarvadavali currently costs an average of Rs 6,000 per square feet, while Navi Mumbai Ulwe Property Latest Price in Ulwe are hovering around an average Rs 5,000 per square feet.

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Navi Mumbai Ulwe Property Latest Price

Not only buyers, small and big builders have also started showing interest in the area. As of now, over 30 new projects are active in the locality, as per data. These projects are at various stages of construction offering a wide range of apartments ranging from affordable to mid segment.

SEZs – “The Ulwe Waterfront SEZ is completely for the IT/ITES companies and is divided into three parts – A, B and C. The construction work is almost complete and final handover is expected to be in March 2015,” said an NMSEZ official.

 

As per data, the average capital values in Navi Mumbai Ulwe Property Latest Price is currently in the range from Rs 4,700-5,700 per sq ft. Price of a 1BHK apartment, having 350-700 sq ft covered area, ranges from Rs 17-45 lakh, while 2BHK units are priced between Rs 40-80 lakh. Sizes of such units vary from 850-1500 sq ft. The prices of 3BHK units range from Rs 70 lakh to Rs 1 crore with area varying from 1400-1700 sq ft.

As of now, Ulwe’s real estate market is driven by investors. “Besides investors from Mumbai and Navi Mumbai, some from Pune are also investing here,” says Rahul Dedhia, owner of a broker firm.

Buyers, looking to settle or invest in Ulwe must keep in mind a horizon of at least 6-8 years when the overall development happening in the locality will not only make it liveable, but is also expected to give good returns.

Navi Mumbai Property Ulwe

Navi Mumbai property Ulwe has been a trending topic recently. Over the last few years, the real estate market in Navi Mumbai and surrounding areas have shown impressive growth, largely because of the planned approach taken towards development. Now, with Navi Mumbai receiving final nod for the International Airport, its property market and that of the surrounding areas have been showing great potential. While property prices have increasingly become unaffordable in Mumbai, Navi Mumbai Property Ulwe still provides numerous options for residential housing within the budget of Rs. 30-50 lakh.

There are two new major economic drivers that are planned for Navi Mumbai and will change the face of this satellite city in the times to come – the proposed SEZs at Dronagiri, Ulwe and Kalamboli, and the upcoming international airport at Panvel. Both these factors are expected to generate a massive amount of employment, providing a further impetus to the demand for commercial and residential developments. Also, the government’s approval to the Mumbai Trans Harbour Link will prove to be a major game changer for the property market of Navi Mumbai, especially in Navi Mumbai Property Ulwe. This project will not only open up new corridors for development, but also provide a fillip to the property market of Navi Mumbai.

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Navi Mumbai Property Ulwe

Things will only get better for the locals, as the clearance of the Rs 4,000-crore Sewri-Nhava Sheva project, a 22-km sea link connecting its neighbouring area to the mainland, has finally come through. The project reduces the current road travel time of two hours from the mainland to as little as 30 minutes.

While a sharp rise in real estate prices is expected in the future, land developers are witnessing a peculiar phenomenon. The entire Panvel, Nhava Sheva, Uran belt, up to Alibaug has already started recording a 15-20% hike in real estate prices, and some areas such as Navi Mumbai Property Ulwe and Dronagiri near the JNPT, have seen a 100% jump in prices over the past year.

While some of this activity could be attributed to the need for affordable space near Mumbai city, real estate developers say that news of the proposed sea link is a major factor in spurring investment in the area.

“The proposal for the sea link has created great buying interest in the Panvel, Nhava-Sheva, Uran belt up to Alibaug, which is now being referred to as the ‘Third Mumbai,'” says Navi Mumbai-based developers.

In their opinion, this is largely because areas such as Vashi in Navi Mumbai, have already started quoting anywhere between Rs 10,000-30,000 per sq mt.

“In such a situation, investors are turning their attention to areas such as Navi Mumbai Property Ulwe, Panvel, Nhava Sheva and Uran, which are affordable and will soon be easily accessible from the mainland, thanks to the Sewri-Nhava Sheva sea link,” they say. According to sources, a large amount of investment in Navi Mumbai Property Ulwe area is driven by local developers and politicians, who see ample opportunity in this ‘Third Mumbai’.

“The mood is quite upbeat, but there is also an element of fear,” feels Rajesh Prajapti, former president of the Navi Mumbai Builder’s Association. Over the past decade, Navi Mumbai has been at the receiving end of promises which haven’t come through for a very long time.

However, this hasn’t dampened buying interest in the area. Ulwe and Dronagiri, located near the JNPT, stand to gain a lot from the proposed sea link project. “So far, the only feasible mode of transport was through the ferry service.

With the sea link, it will be possible to reach these areas from Sewri in 15 minutes, as opposed to the present travel time of two hours. This factor has doubled real estate prices over the past year, which have spiralled from Rs 800 per sq mt to Rs 1,500 per sq mt,” he says.

While there is excitement surrounding this project and what it could do for Navi Mumbai Property Ulwe, locals would like the government to draw up a proper development plan in order to maximize its potential.

“The development of these areas surrounding Mumbai is a good idea, and it serves as a back-up for the city, which is bursting at the seams. However, the authorities also need to amend laws, such as the Urban Land Ceiling Act, which do not allow us to realise the full potential of land available to us,” says Nagraj Sheth, a local corporator from Uran.

Property in Navi Mumbai Dronagiri

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Property in Navi Mumbai Dronagiri

Property in Navi Mumbai Dronagiri is in an exciting stage right now. Real estate and infrastructure development have been the mainstay of the developing city of Navi Mumbai. With the work on the much talked about airport inching ahead, the city is all set to witness another phase of realty and infra boom. As Adivashi reported, the existing nodes of Vashi, Belapur and Nerul have reached their saturation point and Ulwe, Dronagiri and Panvel have emerged as the new development zones on the periphery of the airport.
Dronagiri is the only node which will be connected by rail, road and sea after the Nerul-Uran railway line is open to public. Currently, one can travel from Mora jetty to Ferry Wharf in 35 minutes. Also if the Nhava Sheva-Sewri sealink takes off, it will be well-connected

Developed by Cidco (Navi Mumbai), Property in Navi Mumbai Dronagiri is a popular hotspot for Inventors and is likely to emerge as the most- sought after destinations for affordable housing. Middle income people are looking forward to Dronagiri.
The Bokadvira railway station, which is being constructed near sectors 47 and 48 of the node, will link Panvel to Jawaharlal Nehru Port Trust (JNPT).

Cidco realised its mistakes while planing Ulwe. They have tried to rectify them while developing Property in Navi Mumbai Dronagiri.

The Mumbai Trans Harbour Link project will further push infrastructure development in the node. This link will drastically cut down travel time between Mumbai and Navi Mumbai.

It is in this context that developers are pinning hopes on Property in Navi Mumbai Dronagiri near JNPT and Uran. “Come to Dronagiri where one can still book a house or a Property in Navi Mumbai Dronagiri at Rs 3,500 a sq ft,” says Sangram Patil, President of Raigad-Navi Mumbai unit of Maharashtrian Builders’ Association. The node, planned by CIDCO, has potential for growth.

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Property in Navi Mumbai Dronagiri

A quick trip to Dronagiri reveals that the node is quite strategically located close to the employment catchment areas like ONGC and JNPT. One can say it is Navi Mumbai’s upcoming suburb, 22 km away from Vashi and about 3 km from Uran. Another advantage for Dronagiri is the sea route to Mumbai from Uran. One can reach Ferry Wharf, also known as ‘Bhaucha Dhakka’ at Princess Dock, in 40 minutes, says developer Rajesh Prajapati.

“We are quite bullish over Property in Navi Mumbai Dronagiri” says Prajapati, who is also the media convener of realtors’ apex body CREDAI. “Apart from the airport, we will soon witness the execution of Mumbai Trans-Harbour Link that will connect Dronagiri with Sewree,” he says.

Prime Minister Narendra Modi laid the foundation stone of the Rs 4,000-crore port-based multi-product SEZ and the Rs 1,900-crore Port Connectivity Highway Project at the Jawaharlal Nehru Port Trust in Raigad district. This initiative will help in developing this region, as Dronagiri provides Affordability, Connectivity, Proximity and social infrastructure to the people. The demand for affordable housing has made Property in Navi Mumbai Dronagiri the most promising residential market in MMR region. The announcements of these projects in and around Dronagiri will propel property prices in the region as this is the right time to invest which home buyers should grab, before prices move further north.

Property in Navi Mumbai Kharghar

Property in Navi Mumbai Kharghar is a preferred destination for many. As per recent property index analysis, Kharghar is a top locality for buying properties. Kharghar offers numerous new properties on sale, opportunities for earning rental returns.

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Property in Navi Mumbai Kharghar

A ride through Kharghar is quite a breeze. Unlike other parts of Navi Mumbai, you get to see what living in this thoroughly planned node of India is like. This residential and commercial node of Mumbai is a planned development with towering skyscrapers which cater to both residential and commercial real estate sectors. Kharghar has malls, entertainment outlets and restaurants to cater to the most discerning customers.

The proposed Navi Mumbai International Airport and the Mumbai Trans Harbour Link (MTHL), also known as Sewri-Nhava Sheva Trans Harbour Link, will boost further developments and demand for Property in Navi Mumbai Kharghar, in the area. It will be a 22-km freeway grade road bridge that will connect the city of Mumbai with Navi Mumbai and is slated to be the longest sea bridge in India, when completed.

There are two main reasons, generally, why people are not putting their money into real estate in Mumbai. The first one, being apartments are overpriced and most people cannot afford them and the second reason is that the returns from the equity market are better so money which should going into home buying is being diverted into stocks. This has lead to a rather dismal picture for not just the builders but also for the investors who are now stuck with flats they cannot resell. There is a glut in supply and many builders are offering freebies to encourage home buyers. Funnily enough, reports indicate that prices on the builders’ catalogs went up by more than 6% during the last quarter of 2014.

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Property in Navi Mumbai Kharghar

In August last year, the foundation stone for a Special Economic Zone (SEZ) estimated to cost INR 4,000 crore was laid at Jawaharlal Nehru Port Trust (JNPT). It is anticipated that this SEZ will have a major impact on the price of realty prices Navi Mumbai. The prices of apartments in Kharghar are likely to increase once this SEZ is functional. Realtors feel that the new employment opportunities created by the SEZ will create more demand for apartments in Kharghar and other nodes of Navi Mumbai.

Today, industrial units in Navi Mumbai are relocating to locations in Raigadh district and commercial is the latest buzzword in Navi Mumbai’s real estate scenario, says Vijay of the Builders Group. “Commercial options in Property in Navi Mumbai Kharghar span a huge price band. Growth of the residential segment in Navi Mumbai, prior to that of the commercial segment, actually works out in favour of the end-user today, as manpower resources are easily available,” he points out.

“Commercial real estate in Navi Mumbai comes at competitive prices vis-a-vis other options in the Mumbai metropolitan region (MMR), with the added advantage of being located in a well-planned city,” he added.

IT/ ITeS SEZs and businesses that have anything to do with rail/road transport and logistics or shipping, are proving to be the next big segment in residential Property in Navi Mumbai Kharghar, and in commercial spectrum, shares Mayur Shah, honorary secretary, MCHI.

Property in Navi Mumbai Nerul

Property in Navi Mumbai Nerul is well sought after as it is a well known and well appreciated locality of Mumbai Metropolitan region, Navi Mumbai. It is an important real estate market in India. As per a recent analysis, the average per square feet (psf) price for buying a property in Nerul is around Rs. 7,800/-

On further analysis the following trends can be observed.

12 Months price trends: The Property in Navi Mumbai Nerul prices have appreciated by 8.3% in Nerul. The psf rate has changed from Rs.6,892/- to Rs.7,830/- during this period.

6 Months price trends: The Property in Navi Mumbai Nerul prices have appreciated by 2.2%. The psf rates has changed from Rs.7,482/- to Rs.7,830/- during this period.

3 Months price trends: The Property in Navi Mumbai Nerul prices have dropped by 3.34% The psf rate has changed from Rs.7,653/- to Rs.7,830/- during this period.

On comparing the general trends in Property in Navi Mumbai Nerul over the past 12 months, it is shown that property prices in Navi Mumbai has appreciated 7.2% , whereas Nerul has appreciated to 8.3%.

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Property in Navi Mumbai Nerul

What most people who drive through Nerul don’t know is that this node consists of 50 sectors and is one of the most populated and affluent localities in New Mumbai. Nerul along with Seawoods-Darave, also known as just Seawoods, is the second best developed zone of New Mumbai after Vashi.

Here are a few good reasons why investing in Property in Navi Mumbai Nerul, particularly in apartments in Nerul is sound advice: Good road & transport facilities BEST and NMMT buses serve affordable transportation. Being a planned township, it has roads that intersect at right angles, road signs prominently displayed and traffic signals with LED time displays. The proposed Navi Mumbai International Airport and the Mumbai Trans Harbour Link (MTHL), also known as Sewri-Nhava Sheva Trans Harbour Link, will boost further developments in the area. It will be a 22-km freeway grade road bridge that will connect the city of Mumbai with Navi Mumbai and is slated to be the longest sea bridge in India, when completed.

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Property in Navi Mumbai Nerul

Nerul has many well known institutions offering various streams of education. Restaurants, coffee shops and ice-cream parlours: Nerul has a plethora of eateries with many well known brands situated here and offers a variety of cuisine: Indian, Chinese, Continental, besides malls.

Good hospitals and nursing care Nerul has many good hospitals, both government and private, that offer general care and multi-specialty services, besides many nursing clinics. Sports Nerul has a few sports complexes and the well known world-class cricket stadium, the DY Patil Stadium, where many IPL cricket matches were held, is one of them. A new golf course is also on the anvil.

Information Technology (IT) has been a catalyst for the real estate business; by creating demand and raising the bar for quality construction.  Real estate experts cite the example of the market in Pune which has grown on the back of the IT industry. They point out that the Thane-Belapur belt which was an industrial zone has been slowly morphing into a services zone. This is another factor which will impact the demand for houses in Navi Mumbai. Prices for apartments in Nerul ranged from INR 9000 to INR 12, 500 per sq ft during the first three months of this year.

Navi Mumbai Property Investment

Investor interest in Navi Mumbai property investment has been on the rise in the backdrop of proposed development of international airport and other infrastructure projects. High interest rates and unaffordable prices in Mumbai and its suburbs are also key reasons for investors to focus on relatively affordable projects in Navi Mumbai.

Real estate is an attractive investment opportunity. The investment potential of a real estate project depends on various factors. these factors may be macro or micro in nature. The Navi Mumbai property investment presents an excellent scenario to look at all these factors on an individual basis and make a decision that is best suited for each and every investor portfolio.

Navi Mumbai has established itself as a real estate investment haven. The market is still developing and there is much value which is still to be unlocked. Potential for Navi Mumbai property investment tremendous. The area has already witnessed good growth and is likely to remain in the same trajectory in the near future as well. There are several developmental projects which will further enhance the value of the real estate in Navi Mumbai.

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The lesser known nodes of Karanjade, Ulwe and Dronagiri in Navi Mumbai that are currently being developed by CIDCO are already witnessing increasing interest from investors interested in Navi Mumbai property investment, due to their proximity to the proposed airport, the report said.

Given the growth in investor appetite for these relatively affordable projects in Navi Mumbai property investment, property prices in these suburbs have moved up 7-8% between July ’14 and June ’15, according to a report by the property consultancy firm. Apartment prices in premium locations such as south and central Navi Mumbai grew at a rate of 12-14% over the same period.

“There are some end-users too, but the larger portion is investors. Apart from ongoing and proposed infrastructure development, price is definitely a pull factor,” says Anand Khaire, CMD of Investment Today.

Navi Mumbai is said to be the largest planned city in India. Owing to this title, the market presents a great opportunity for investors looking to make a foray into real estate investment, whether in the commercial segment or the residential segment. T he emergence of corporate sector in the form of SEZ’s and IT parks has added much value to the Navi Mumbai property investment scenario. The area as also seen a spurt in the growth of shopping malls and other areas of civic amenities. Navi Mumbai is now a new hot spot for real estate investments, short term or long term.