Navi Mumbai is fast growing as a residential hub. The city was previously planned to support the ever-growing population of Mumbai, however over the time it has grown even better than the main city of Mumbai. Navi Mumbai has several advantages as a residential place, however there are five primary advantages that played havoc behind the growing popularity of the area.
1. Planned City- Yes, as already told, Navi Mumbai was planned to support the growing Mumbai population and the city has been planned well. Navi Mumbai is not like many other cities which have developed arbitrarily as the human necessities encroached the land. Navi Mumbai is a pre-planned city where each and every road, facility and amenity has been placed as per planned layout after much thoughtful considerations. Therefore, it is not only convenient but also lesser congested.
2. More of nature- As a by-product of well-planning, Navi Mumbai is left with much more of the nature. In spite of its increasing population, Navi Mumbai is still left with large area of natural water bodies and greenery. There are several both big and small planned and reserved parks, playgrounds and lakes. In fact, builder too are quite considerate in this regard and they are not curbing the natural water bodies and playgrounds, instead planning the townships and residential complexes around them.
3. Convenient communication system- As a part of a planned city, each and every road in Navi Mumbai are wide and well-maintained and connected to one another in much easier layout. Broad roads ensure lesser traffic congestion and therefore faster movement. The city has its own bus service, and also several private buses and auto-rickshaws ply around the city. The city is further well connected with railway line with state-of-art stations at regular intervals. The city is connected to the main land of Mumbai via harbor line and the adjoining city of Thane via Thane-Vashi-Panvel local line. Navi Mumbai International Airport is coming up soon as well.
4. Lesser scarcity of water- Yes, we all know that scarcity of water is one of the major problem in Maharashtra. Mumbai and Thane are quite pained with this issue where people face long hours and sometimes even days of water supply cut. Navi Mumbai is comparatively in the better position. It has huge number of natural wells and also natural water bodies supplying water to the land throughout the year.
5. Growing educational and employment hub- Navi Mumbai has attracted several world-class educational organisations who have their campuses in the city. The city today boasts of the highest numbers of state-of-art schools, colleges and other educational organisations than its neighboring city of Mumbai and Thane. Also the city is fast growing up with business hubs creating thousands of job opportunities for the residents of the place who are no longer required to travel all the way to main Mumbai for earnings.
MUMBAI: Bandra-Kurla Complex (BKC), one of Mumbai’s leading commercial business districts, is now also an enclave where industrialists, high-net worth individuals and some of the biggest names in the corporate world have booked luxury apartments.
Property market sources said they have paid between Rs 30 crore to Rs 55 crore for uber-luxury apartments in the BKC. Some of the high-end residential projects here command as much as Rs 55,000 a sq ft.
Among those who have booked duplexes here are industrialist Gautam Adani, former Citigroup head Vikram Pandit, Deutsche Bank co-chief executive officer of Asia/Pacific, Gunit Chadha, chairman of JM Financial Nimesh Kampani, Harsh Mariwala of Marico, Jalaj Dani of Asian Paints, Kishore Lulla of Eros International and Ashok Wadhwa of Ambit Holdings.
It is also learned that the family of Hitesh Patel, the Surat-based diamond merchant who was the highest bidder for PM Narendra Modi’s suit for Rs 4.31 crore, booked an apartment in BKC. Pramit Jhaveri, CEO of Citi India, and Mickey Doshi, MD and country head at Credit Suisse, are among those who have duplexes here.
“Most of these ultra high-net worth individuals have bought these luxury pads, not as an investment, but to stay here because of the BKC’s strategic location,” said sources.
These are all duplexes in Signature Island, among the three residential projects built by developer Sunteck Realty in the BKC’s G Block. These apartments come in two sizes, the bigger ones are 11,000 sq ft while the smaller ones are about 7,000 sq ft.
BKC currently has just three residential projects adding up to 220 units.
A Cushman & Wakefield report said BKC presently does not have enough residential developments despite its marquee clientele. “The corporate clientele of BKC can be typified as high-income earning (sometimes extending to top clients for luxury products) mid-to-top end management; this is a class of people who have purchasing power and is aspirational,” it said.
“Most people who work in BKC commute from far-flung suburban areas or central and south Mumbai. In terms of time taken to travel, it can easily mean one to two hours of commute during rush hour. The need to develop high-end homes in BKC and also develop it as a residential destination is imperative. Developers have currently not tapped the full residential demand of the area,” it said.
The report said BKC, once developed as a formidable residential address, can also serve as an alternative to sub-markets such as Worli and Bandra. “Its central location and proximity to both north and south of Mumbai can draw in crowds and hence help ease urbanization pressure on the mentioned sub-markets.”
There is a gaping difference between number of unit launches in BKC and non-BKC locations. Nearly 4,300 residential units have been launched in the catchment area (including BKC and non-BKC), of which only 220 units are in BKC. (Cushman & Wakefield)
Owning a residential space was once an essential thing for the average middle class people. But today, owing to the all-time high real estate price, the same has become a luxurious dream for the average middle classes residing in Mumbai. However, developers are on constant endeavor to try out newer locations outside and around the city such that owning a home for yourself does not have to remain just as a dream.
One such hot spot today is Navi Mumbai, the planned city just beside Mumbai. Navi Mumbai was specially planned to support the population overflow. Let’s have a look at the top five locations at Navi Mumbai best suited for residential purpose.>
Airoli- Beginning with Airoli. Airoli is the first spot in Navi Mumbai that is connected with main Mumbai via road. Airoli-Mulund highway serves as the main connection to the Mulund, the last station of Mumbai eastern suburbs. Apart from that, Airoli is first station when coming from Thane via Thane-Vashi local railway line. In terms of jobs and opportunities, Airoli can be considered as a self-sufficient one as there are hundreds and thousands of companies converged into Airoli and nearby spot of Rabale and Ghansoli. However, being the first one to get developed, Airoli is little bit more crowded than the other spots in Navi Mumbai and owing to the similar reason it is also the best in terms of other basic facilities.
Seawoods- This is relatively new and largely under construction at present. However, it presents a considerable option due to the large number of offices reserving their spaces in the area. Also it is closer to the business hub of Nerul and Vashi. In terms of connectivity, Nerul is linked with main Mumbai via Palm Beach Road and also via harbour railway line and Thane-Panvel local line.Being surrounded by the already flourished locations like CBD Belapur, Nerul and Vashi, basic ammenities is also not an issue for the location.
Kharghar- Kharghar, at present, is perhaps the most prominent and posh location in Navi Mumbai. With all its shares of nature, connectivity and basic facilities in abundance, Kharghar is most sought after location at present. And the for same reason the real estate price for the area is on the considerable higher side. However, compared to main Mumbai, its not only cheaper but also more preferable due large open spaces, central park, golf course, and also job and employment opportunities.
Ulwe- Ulwe is garnering a lot of real estate attention off late. With the Navi Mumbai International Airport coming up in the vicinity, Ulwe is now considered as one of the most prime location of Navi Mumbai. The area is separated from CBD Belapur and Seawoods by Panvel creek cutting from between. Yet not exploited to the full potential, Ulwe is high in nature quotient. Lots of residential complexes and townships are coming up in the area which are self-sustaining and at the same time quite affordable as of now.
Taloja- In terms of job and employment opportunities, Taloja is self-sufficient owing to the numbers of industries in the area. Residential complexes and townships are coming up at a fast rate and in terms of population in can now be compared with Kharghar and Panvel. However, the area still holds its share of natural beauty and is quite affordable till date.
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