[ecis2016.org] Here is a list of ideal localities in Navi Mumbai for buying and renting homes
Navi Mumbai is the affordable alternative, for those who cannot afford to invest in Mumbai. As opposed to the skyrocketing real estate prices in Mumbai, Navi Mumbai has opened up as a strategic investment hotspot and is considered by both, investors and end-users, from across Maharashtra. Once developed as the satellite city of Mumbai, Navi Mumbai has now itself spread itself far and wide. Newer nodes are opening up and existing nodes are witnessing rapid infrastructure development, with the Navi Mumbai International Airport, Nhava Sheva Trans-harbour Link and the Navi Mumbai Metro that will be operational by the end of 2021. Areas including New Panvel, Ulwe, Uran, Taloja, Kharghar and Kalamboli are witnessing infrastructure developments that will result in rise in property prices, point industry experts. Here, we list the top localities in Navi Mumbai that you should consider, when it comes to buying or renting a property.
You are reading: Top localities to buy and rent properties in Navi Mumbai
Some of the top localities that have performed well, vis-à-vis investments are near prominent job hubs. Even if you are looking at rental yields, 1BHK and 2BHK units promise handsome returns.
| Locality | Average per sq ft value | Price of 2BHK | Rent for 2BHK | USP | Maximum supply |
| Kharghar | Rs 9,217 | Rs 30 lakhs – Rs 3.25 crores | Rs 10,000 – Rs 45,000 | Planned by CIDCO, very close to the CBD | 2BHK units |
| Ghansoli | Rs 9,704 | Rs 20 lakhs – Rs 2 crores | Rs 9,500 – Rs 60,000 | Close to the IT hub in Airoli | 1BHK units |
| Airoli | Rs 11,631 | Rs 60 lakhs – Rs 2.5 crores | Rs 6,500 – Rs 50,000 | Houses the IT hub | 1BHK units |
| Panvel | Rs 6,438 | Rs 15 lakhs – Rs 5.25 crores | Rs 6,000 – Rs 40,000 | Ready-to-move-in units on sale; Close to the upcoming airport | 2BHK units |
| Ulwe | Rs 7,774 | Rs 15 lakhs – Rs 1.6 crores | Rs 8,000 – Rs 85,000 | Planned by CIDCO; Site of the proposed Nhava Sheva-Sewri Link Road or the Mumbai Trans-Harbour Link Road, and the upcoming airport. | 2BHK units |
| Vashi | Rs 14,920 | Rs 30 lakhs – Rs 10 crores | Rs 8,000 – Rs 45,000 | Well-developed locality; Employment hub | 2BHK units |
| Kamothe | Rs 7,375 | Rs 25 lakhs – Rs 1.5 crores | Rs 12,500 – Rs 20,000 | Close to Taloja Industrial Area; Affordable to mid-segment properties available | 2BHK units |
| Nerul | Rs 12,680 | Rs 30 lakhs – Rs 3 crores | Rs 14,500 – Rs 60,000 | Houses the MIDC industrial area, colleges, etc. | 2BHK units |
| Taloja | Rs 5,540 | Rs 15 lakhs – Rs 88 lakhs | Rs 7,000 – Rs 12,000 | Planned by CIDCO | 2BHK units |
| Seawoods | Rs 13,750 | Rs 30 lakhs – Rs 3 crores | Rs 21,000 – Rs 50,000 | Posh locality, top choice of HNIs | 2BHK units |
[ecis2016.org] Impact of Navi Mumbai International Airport on property prices
Since March 2020, average property prices in Navi Mumbai have been rising.
Read also : Mumbai Metro Line 3: Everything you need to know
Source: ecis2016.org
Check out properties for sale in Navi Mumbai
The average rental price in Navi Mumbai stands at Rs 22,750 per month.
Read also : Indian real estate forecast 2020: Best cities for property investment
Rental trend, ecis2016.org
Check out properties for rent in Navi Mumbai
Which is better Ulwe or Kharghar?
Both Ulwe and Kharghar are sought-after nodes in Navi Mumbai. While Kharghar is a very well developed node now with all the basic infrastructure in place, enjoys connectivity to other parts of Mumbai and Navi Mumbai, and has reputed developers having their projects here, Ulwe is getting there. Ulwe is increasingly becoming a home buyers’ choice, owing to its proximity to other nodes of Navi Mumbai including Belapur, Kharghar, Nerul, Seawoods and Panvel.
FAQs
How is Belapur as an investment destination in Navi Mumbai?
Belapur is among the premium residential, as well as commercial localities in Navi Mumbai. It is the Central Business District area and therefore, there are numerous employment opportunities. The area is well-served by the suburban railway network, as well as BEST and NMMT buses. Capital values are in the range of Rs 9,000 – Rs 14,000 per sq ft.
Is Navi Mumbai better than Pune for investment?
Navi Mumbai and Pune are over 120 kilometres apart and therefore, those who think about an investment in either market, will need to think about factors such as proximity to work areas, schools/colleges, scope of travel, etc. Both markets have their own strengths and weaknesses but Navi Mumbai is often an investment choice for those who work in Mumbai and its vicinity. Both, Navi Mumbai and Pune, are active real estate markets with sizable capital appreciation and rental yield.
What are the property prices in Navi Mumbai?
Property prices in Navi Mumbai for 2BHK flats range from Rs 15 lakhs to Rs 10 crores.
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