Navi Mumbai, being close to the capital of Maharashtra, has now become a hotspot for real estate investments. For people across India, Navi Mumbai is the go-to option for making property investments right away, without second thoughts. It is because the price appreciation rates will eventually grow stupendously in the forthcoming years. 

As more and more homebuyers and working professionals are planning on living in Navi Mumbai, outstanding infrastructural amenities and developments will soon make their way to the region. Even today, there are some amazing recreational facilities, hospitals, schools, parks and malls to help residents live a peaceful and joyous life. 

The Property Pricing in Navi Mumbai!

The average property pricing per sq. ft. in Navi Mumbai is around Rs. 9,200, which is amazingly cheap, in comparison to triple the amount that you pay in the posh localities of Mumbai. Due to the affordable pricing, more and more homebuyers are counting on buying their dream homes at budgeted pricing in the region. 

Considering the rising demand, real estate developers are coming into Navi Mumbai and are introducing luxurious and premium apartment options at affordable or reasonable pricing. Hence, people who couldn’t spare crores of rupees for buying a property in posh regions of Mumbai can now get an amazingly luxurious 3, 2 or 1 BHK flat in Navi Mumbai, with all high-end amenities and facilities. 

In the last 5 years, Navi Mumbai and its sub-localities have experienced a price appreciation of around 15%, which explains that investing in properties at the site today will be immensely profitable in the long run. 

The Proposed Infrastructure Developments Are Boosting the Real Estate Demands of Navi Mumbai

Moreover, some of the popular upcoming developments in the region will also contribute towards exceeding the price appreciation rate. Some of those proposed developments include:

• Navi Mumbai Metro Line 1 is being constructed across an 11-km corridor, which will be connecting the region through hubs at Taloja, Pendhar, Kharghar and Belapur. 
• A CST-Panvel, fast-rail corridor will help you in reducing the travel time from 90 to 50 minutes between Navi Mumbai and Mumbai. 
• Navi Mumbai has the approval for constructing more than 94,000 affordable houses for people who fall under the Low Income Bracket. 
• RIL (Reliance Industries Ltd.) has recently leased land of 4000 acres from the SEZ of Navi Mumbai for building a global economic centre. 
• The expansion of the JNPT (Jawaharlal Nehru Port Trust) channel is now approved with a budget of Rs. 2,029 crores. 
• A wastewater treatment plant will be upgraded in Taloja MIDC to reduce the pollution levels in Taloja and all of Navi Mumbai. 
• Coastal Roads are to be built with the implementation of an intelligent traffic control system for connecting Kharghar with Amra Marg at Panvel. 
• Six-Lane elevated roads are about to be constructed all across Navi Mumbai, which will eventually decongest the Sion-Panvel Highway. 

As soon as these developments pick up pace, there will be a rush for property developers to get the residential apartment buildings ready at a high price. Some of the reputed builders have already established the best-in-class options for you to buy 3, 2 or 1 BHK flat in Navi Mumbai. Hence, there’s a high demand among buyers to invest their money in a lucrative and growing asset, and the real estate of Navi Mumbai is a booming one! 

Conclusion

Navi Mumbai is one of the hottest real estate hubs in Maharashtra and is a popular pick for everyone who wants to be in close proximity to Mumbai. The property pricing is affordable as of 2023, but the development pace has been increased, which will soon appreciate the pricing to a moderate to high range. Hence, you will be available with the opportunity to earn high returns by selling out your property after holding it for a decade or more. If you are looking for a 3, 2 or 1 bhk flat in navi mumbai but are not sure of which locality seems to be the best fit for you, then consider finding one over Blox. Blox will help narrow down the properties as per your budget, property type and sub-localities. In this way, you will be able to know what you are supposed to get for the price you are willing to pay! Try out Blox today!