Navi Mumbai is fast developing as an ideal destination for the home buyers in Mumbai Metropolitan Region. It is also considered as one of the largest planned city in the world. The city has gained a lot of value due to the emergence of the corporate sector in the form of IT parks and SEZs. The city has also seen the growth of educational institutes and shopping malls. There are many factors which offer a great opportunity for the investors who are looking to make an entry into real estate investment. Let’s understand why people are considering Navi Mumbai as a good real estate option and which are some of the best hot spots in Navi Mumbai.
Reasons why people are considering Navi Mumbai as a good real estate option:
- Navi Mumbai is a commercial center: Many Indian and global industrial houses have established their business units in Navi Mumbai. There are also a lot of corporate companies who are in the process of setting up their offices at Panvel as well. It is also host to one of the largest SEZs in India.
- Well-planned city: Navi Mumbai is well-planned and developed as an environmentally friendly city. The area has seen the growth of shopping malls and other areas of civic amenities. The infrastructure includes wide roads, huge open spaces, and recreation areas. This environment friendly city has garden, parks and beautiful landscapes. The lakes and green spaces, and the mountain terrains which cover half of the total area are well-maintained.
- Good connectivity and transportation: Navi Mumbai is very well-connected to other parts of the city and the state. The city also offers good transportation system such as Mumbai suburban rail to commuters or the buses of Navi Mumbai Municipal Transport. The Metro rail project construction is also in progress at a faster pace which will offer convenience of travelling smoothly and quickly.
- Navi Mumbai – A better option than Mumbai: The investment threshold for Navi Mumbai is very low. Since it is a growing market, it is expected to offer increasing rate of return in the future. Meanwhile, the investment potential of Mumbai is good but it saturated now. The real estate developers are coming up with many housing projects in Navi Mumbai.
- Construction of international airport: The international airport will be developed in 2019 and this will make Navi Mumbai a standalone global city. After the completion of the international airport project, the property rates will rise automatically.
Best investment hot spots in Navi Mumbai
Panvel: Panvel is placed between Pune and Mumbai. It offers commercial and premium properties at lower rates. After the upcoming Navi Mumbai Airport is built, its demand as a major hub will go up. Many second-home buyers are interested in investing in apartments in Panvel due to its direct connectivity with Pune and Alibaug. Some of the factors that contribute to the growth in Panvel include electricity, water supply, social and physical infrastructure. Panvel is also an educational hub with renowned institutions catering to many students who come to the city for educational opportunities. It has some of the best state-of-the-art facilities and multi-specialty hospitals. Panvel also has some good restaurant options for dining. The restaurants offer services such as take away meals and other online food delivery services.
If you are looking to invest in property, Hiranandani Fortune City is a good option. It is a mega township located in Navi Mumbai developed by Hiranandani Communities . The township is easily accessible by road and rail. Navi Mumbai has excellent infrastructure, educational facilities, clean air, and water. This makes Navi Mumbai an ideal place to set up a new business or an purchase an apartment.