How Does Navi Mumbai Become a Hotspot for Investment?

Kavya Manoj K

Navi Mumbai is a planned satellite city in Mumbai on the west coast of Maharashtra in India. Currently, it is the largest planned city in the world.

Recently, Indian cities are experiencing a real estate boom. This trend is followed by Navi Mumbai too. Navi Mumbai has progressed into one of the major hotspots of the real estate sector over the last decade. Navi Mumbai is gaining power and preference among homebuyers.

The development of Navi Mumbai was quick and sudden. The major element of this growth is infrastructure. As a result of the real estate boom, investments increased. Investors began to show their keen interest in Navi Mumbai.

Navi Mumbai’s real estate industry is marked as one of the most profitable platforms for investment. Many reports said that the property prices of Navi Mumbai increased much compared to previous years. Navi Mumbai’s real estate market will become India’s major hotspot for investment. This is mainly due to the infrastructural development in Navi Mumbai.

The glory of Navi Mumbai started after the announcement of the Maharashtrian IT/ITes policy. Buyers began to look for residential and commercial spaces in Navi Mumbai. Buyers began to concentrate on Navi Mumbai because of the real estate development there. Therefore the demand for properties too increased.

The present status of Navi Mumbai is favorable for the real estate industry. It will have an upward growth in the future. The state government is also in favor of Navi Mumbai. They are planning to transform Navi Mumbai into a powerhouse of the economy.

As per the ‘Ease of Living Index (Eols)’ by the Union Housing and Urban Affairs Ministry, Navi Mumbai got named the second most livable city in India.

Also read: Which City Ranks as Most Livable City in India?

The state government planned to launch a micro-market and many infrastructure projects to enhance the livability in Navi Mumbai.

Some oncoming infrastructure projects in Navi Mumbai are

  • The metro line phase 1 and 2 from Belapur to Khandeshwar.
  • A hyperloop that connects Mumbai- Navi Mumbai and Pune Suburban rail.
  • At Aamra Marg a coastal road map out between Jawaharlal Nehru port Trust (JNPT) and Panvel Creek.
  • Navi Mumbai International Airport
  • Mumbai Trans Harbor Link (MTHL). Once the project is established, travel time from Navi Mumbai to South Mumbai will be reduced.
Mumbai Metro One © Mumbai Metro One Pvt. Ltd.

Another important factor that increased the investment in Navi Mumbai is its affordability. Property values in Mumbai are higher but Navi Mumbai is cheaper than Mumbai. So many buyers will invest in Navi Mumbai. However, prices can rise in the future. Some popular hotspots for investment in Navi Mumbai are places like Kharghar, Taloja, and Panvel.

Airports became a major cause of infrastructure development in India. Usually, airports were built inside a city but now metropolitan cities are built around the airport. Everything from schools, hospitals, and malls to offices that serve the needs of people is situated around the airport.

Free photos of Flats in panvel
Flats in Panvel © Pixabay

Similarly, the upcoming airport in Panvel will result in an investment in real estate around the airport. So in the future, the demand for houses around Panvel can increase. The most important beneficiary will be the real estate industry. These factors will influence the buyers positively.

Many will find it a good opportunity to invest in the real estate industry. The homeowners can get a good amount of money by renting apartments or houses. A reliable public transport system will soon happen in Navi Mumbai. The development of roads and railways will allow easy transportation for the inhabitants of Navi Mumbai.

With the development of real estate, Navi Mumbai will become one of the most desired real estate destinations. The new linkages of the mega infrastructure projects will allure commercial real estate. Soon residential demand will increase. This can have a domino effect on other industries.

As a result of the increase in investments and employment, opportunities arise. The demand and need for goods and services increase. Thus Navi Mumbai will have a developed and improved quality of life.

This policy of the state government became a blessing for investors. Investment became more profitable due to these policies. Navi Mumbai is listed as one of the fastest-growing metropolitan cities due to the developments in the real estate industry and infrastructure.

Navi Mumbai became a hotspot of investment with the best educational institutions, hospitals, sports, and entertainment. These facilities enhanced 

People migrate to Mumbai for jobs and education. Therefore the demand for housing will increase. Many will buy a house or rent an apartment for the same.

Today Navi Mumbai is enriched with well-planned nodes with sufficient water supply, efficient electrical domain, bridges, flyovers, railway lines, etc. Real estate industries tried to bring attractive modifications and features. They made housing in such a way to provide fresh air, avoid congestion, and quality of life.

The best part is that the Real estate sector tries to provide a homely atmosphere by incorporating more open spaces, gardens, pathways, tree-lined avenues, good drainage and sewage systems, etc.

To Summarize

As a result of the increase in planned projects, people are relocating on a large scale to Navi Mumbai. The demand for Navi Mumbai’s real estate market will shoot up.

Since the rate of property in Navi Mumbai is cheaper than in Mumbai, you should list Navi Mumbai in your list if you are planning to invest in real estate. It is the best time for you to invest in real estate in Navi Mumbai.  

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