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For people who want a peaceful life away from all the hubbub and pollution of Mumbai, Navi Mumbai is an excellent choice. From great connectivity and good infrastructure to lush green spaces and proximity to tourist attractions, this planned city has a lot to offer.
The best part? In comparison to Mumbai, property prices are relatively lower, making it an overall value proposition. However, with the many mega projects lined up, the standard of living for Navi Mumbai residents is about to change radically. This will undoubtedly change the face of real estate in Navi Mumbai.
So, here’s a list of all the new developments planned for Navi Mumbai.
CIDCO (City and Industrial Development Corporation of Maharashtra) plans to develop a vast business district in Khargar – a vital node in Navi Mumbai – on par with Mumbai’s famous Bandra-Kurla Complex.
But that’s not it. Apart from giant IT parks and commercial complexes, the city will also have enough residential infrastructure to support 1 lakh people. In essence, it will be the first town to feature a walk-to-work culture.
Moreover, the district will feature world-class educational institutes, healthcare units, and entertainment outlets. Ultimately, the place will accommodate numerous housing projects in Navi Mumbai, each offering a unique lifestyle for the residents.
Additional Read: Hurdles to the Growth of Real Estate Industry in Mumbai
If Navi Mumbai’s already excellent connectivity wasn’t enough, MMRDA has proposed the construction of Mumbai Trans Harbour Link (MTHL). The project, well under progress, will connect Navi Mumbai directly to the heart of Mumbai. Furthermore, the MTHL will connect Navi Mumbai to Mumbai’s four key roads through a Cloverleaf exchange loop, taking the city’s connectivity to the next level.
Worried about the hotspot being too expensive for a property purchase? You can always use a home loan to buy a house here!
The Navi Mumbai International Airport is one of the city’s most anticipated projects. Worth Rs. 16,000 crores; it’s expected to be fully operational in 2023. This will not only make Panvel an urban hotspot but also an important international business destination.
Moreover, it will help reroute some air traffic from Mumbai International Airport. With improved connectivity, the area will surely have burgeoning housing projects in the airport’s vicinity.
With Mumbai and Thane getting Metro lines, it would be remiss if Navi Mumbai didn’t get one. Fortunately, the construction of the 33.15km-long rapid mass transit system is already underway. It will connect the in-progress Navi Mumbai International Airport to Mumbai’s Chhatrapati Shivaji Maharaj International Airport.
Additional Read: What Are the Top 5 Affordable Housing Projects Present in Mumbai?
With the rapid developments in social, economic, and transit infrastructure, now’s the best time to buy house in Navi Mumbai. Enjoy a great standard of living and an excellent resale value, as the property value will appreciate in the coming years.
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Policies, Codes & Other Documents