Mumbai is the second-best Indian state to reside according to the Ease of Living Index 2019. It is undoubtedly a well-planned and a well-managed city. Navi Mumbai was built as a twin city of Mumbai so that the administration of the state is able to manage the population here. Surrounded by the waters of the Arabian Sea, Navy Mumbai has witnessed tremendous growth and is one of the fastest developing city extension in the country.
Navi Mumbai has grown to be the epitome of modern living. There are a number of private sector companies here and investing in a property in Navi Mumbai is considered the most trusted option for the real estate investors.
Factors that attract real estate investors in Mumbai:
Navi Mumbai has grown to the most trusted venue for real estate investors who look for viable property in Navi Mumbai to invest. Some factors that differentiate Mumbai from the rest of the country are,
- Environment: Navi Mumbai has more green cover than other parts of Mumbai and the environment here is much better than other places in the city.
- Roads: The roads here are wider and are pretty well maintained. The palm beach road in Navi Mumbai also renders the most scenic route to drive.
- Pollution: There are fewer factories in Navi Mumbai and it is thus the most sought after destination for families wishing to live in a place with less pollution.
- Population: some of the places in Mumbai are overcrowded, this is not the case with Navi Mumbai.
Some of the investors also show tremendous interest to invest in flats on rent in Mumbai to experience the true essence of urban living. Mumbai hosts a number of recreational facilities such as the Pandavkada waterfalls, Central Park, Golf course, Wonder Park, etc. It is the land for some best quality restaurants and luxury hotels for accommodation such as The Park, Sheraton, etc. There are also a number of shopping malls and recreational centers here that impresses people to move here. Some of the areas in Mumbai and Navi Mumbai attracts real estate investors better than the rest of its counterparts and those are,
Top Areas to invest in Navi Mumbai in the year 2020:
Navi Mumbai is formerly known as New Bombay and serves as a planned extension to the city of Mumbai in the state of Maharashtra. Though this is a mini-city, it has witnessed tremendous growth to become the fastest city in the country. Its growth is tremendous that it attracts even NRI investors to invest in its land. Some best areas to invest in Navi Mumbai are,
- Ghansoli: It is located on the Thane Belapur road and is relatively a new node to this region. It is more of an industrial and a commercial hub and has a number of big corporations and conglomerates in its vicinity. It experiences excellent connectivity to other parts of the city with the help of NMMT buses and local trains. The property prices in this area range from Rs. 6K to 8.5K per square foot.
- Khargar: This place is pretty familiar to the residents of Mumbai. It is located on the Sion Panvel highway and features all amenities than any other posh locality in Mumbai. Many investors express their desire to invest here if they want a property in Navi Mumbai. The region is flourishing with both commercial and residential projects making it an excellent option for budget investment.
- Panvel: It is one of the oldest and the most populated area in Navi Mumbai. It has been developed and maintained by the CIDCO and is the home for some of the big corporations like the Larson and Turbo, Hindustan Chemicals, ONGC, and others. This place enjoys excellent connectivity to the main part of Mumbai and also serves as a junction for the major highways and link roads in the city.
- Ulwe: This place is at the Raigad district and lies in close proximity to the Sion Panvel Expressway. It is still a developing area but has tremendous scope for excellent infrastructure.
Top reasons why one should invest in Mumbai:
Navi Mumbai has reflected its parent city in a number of ways such as infrastructure, connectivity, the advent of MNCs and IT companies, etc., within a short span of time. Some reasons why one should invest in property in Navy Mumbai are,
- The real estate prices in Navi Mumbai are low compared to mainland Mumbai. Investing in its properties is affordable and is budget-friendly for all.
- Navi Mumbai experiences excellent connectivity with the host of highways and expressways running across its terrain.
- Navi Mumbai is easy to navigate and is close to the proposed International Airport
- It is a standalone global city
- Overall it is a well-planned city with no issues with waste disposal, waterlogging, and sanitation.
Housing and real estate in Mumbai:
Mumbai is considered the city of dreams and every single person aspires to own a house or flat on rent in Mumbai . It is one of the developed and well-planned cities in India that experiences tremendous commercial and residential developments. Life in this city is an epitome of luxury as it enjoys a sprawling and a lavish neighborhood. The luxurious apartments in Mumbai help its people to enjoy a grandiose lifestyle with various amenities. The city enjoys various commercial hubs, schools, hospitals, and restaurants in its vicinity. Some of the top locations for real estate investments in Mumbai are,
- Andheri
- Thane
- Kanjurmarg
- Kharghar
- Malad
- Panvel
- Chembur
- Wadala etc.
Wrapping up,
The connectivity features, infrastructure developments and world-class ambience in Mumbai and Navi Mumbai have made the city an ideal destination for real estate investment by both Indian and NRI investors. Investing in properties here will definitely earn good capital returns. One can find the best properties in Mumbai at housing.com. This website lists the various properties in Mumbai area wise and location wise. It also lists the cost of the property, its space specifications along with EMI options. There is no brokerage or middle man involvement while booking a property through housing.com.
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