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.
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.
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.