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.
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.