Emerging Real Estate Investment Hotspots In Navi Mumbai

With improved road connectivity and new metro lines coming up, suburbs such as Shilphata, Road Pali, and Karanjade, have occurred as some of the fastest-developing investment hotspots in Navi Mumbai. Providing numerous residential choices, home values in these areas have rushed by up to 20 per cent YoY, averaging at Rs 8,000 per sq. ft.

Mumbai’s residential landscape has formed a niche, owing to skyrocketing property charges and limited land for new developments. As a result, numerous homebuyers have shifted their focus towards the moderately 0 residential market of Navi Mumbai. Here are Navi Mumbai's top 10 fastest-growing areas for real estate investments, whether you're looking to buy a home for yourself or as an investment.

Shilphata is a quickly developing area at the junction of Kalyan-Shilphata Road and National Highway (NH)-48. This planned positioning has helped it register over 20 per cent price growth in the last year. The present home values average around Rs 7,650 per sq. ft. Future infrastructure projects like the Ghatkopar-Ghansoli Link Road, the Airoli-Dombivali Tunnel Road, the Kharghar-Kalyan Monorail, and the upcoming Navi Mumbai Airport are projected to kickstart the local real estate market and drive up home prices. The rental market in Shilphata is driven by immediacy to Airoli and Palava Experia commercial hubs. A significant share of the total inventory obtainable for sale and rent in Shilphata is 2 BHK units.

Located off the Old Mumbai Highway (NH-4), Taloja is a well-planned locality by City and Industrial Development Corporation (CIDCO), Maharashtra. It is divided into two phases, offering a mix of affordable housing and industrial establishments. While Taloja Panchnand Railway Station caters to the area, the Mumbai International Airport is approximately 45 km away. The government has projected the Taloja Metro Station on Line 12, which will further augment the connectivity here. Property charges in Taloja have seen an upward growth of over 10per cent in one year, currently standing at Rs 6,150 per sq. ft.

Karanjade is a residential area that is well-linked to Panvel and Navi Mumbai via Mumbai-Pune Highway (NH-48). It is a budgeting housing hub, offering multi-storey apartments in gated societies. Home values in this node of Navi Mumbai have grown by about seven per cent YoY, averaging at Rs 6,350 per sq. ft. Features such as proximity to Panvel town, industrial areas such as Jawahar Industrial Estate and Panvel Industrial Estate, and the upcoming Navi Mumbai International Airport have contributed to its realty growth. Further, Panvel Harbour Line railway station is just three km away. 

At the intersection of the Sion-Panvel Highway, NH-4, Panvel Bypass, NH-17, and Mumbai-Pune Expressway, Kalamboli is a mid-segment neighbourhood primarily made up of 2 BHK and 3 BHK home units valued at Rs 8,150 per sq. ft. Rajeev Singh, the owner of Nageshwar Real Estate and Consultant in Navi Mumbai, claims that Kalamboli is a well-liked residential area with great connectivity. Both Taloja MIDC and Belapur CBD are only five and ten kilometres away, respectively. Future construction in and around the area includes the projected Navi Mumbai Special Economic Zone, as well as metro stations at 2E, 7E, and 13 on Navi Mumbai Metro Line 1 (Phase II) (SEZ). While the current rent for a two-bedroom home starts at Rs 10,000 per month, these are set to go higher as the housing demand rises.

Khanda Colony is a self-adequate locality situated two km from Kalamboli Industrial Area, three km from Panvel Junction, and 13 km from Belapur CBD. JNPT Bypass, Sion-Panvel Highway, and NH-4 ensure seamless access to project areas. The upcoming Kharghar Sector 14 Metro Station is just seven km away, and the planned CSMT-Panvel fast corridor and Virar-Panvel Railway Corridor will also add to its last-mile connectivity. Present property charges in Khanda Colony are around Rs 9,750 per sq. ft, with over five per cent YoY growth. Home seekers may find ample 1 BHK/1K units and 2 BHK flats here.

Panvel is a developing area giving ample ready inventory in the mid-income housing segment. It enjoys good road connectivity via Sion-Panvel Highway, NH-48, NH-66, and JNPT Road. Property charges in Panvel average around Rs 8,150 per sq. ft post a five per cent YoY increase. According to Sandip Desai, Proprietor, of desire Group, “Panvel is set to become the next railway hub in Navi Mumbai as more than 10 new trains will soon operate from Panvel Terminus. Moreover, the upcoming CST-Panvel elevated rail corridor project will significantly reduce the travel time between Mumbai and Navi Mumbai”.

A variety of multi-story residential flats, industrial buildings, and office buildings are available in Koperkhairane. Ghansoli, Vashi, and the MIDC Industrial Area surround it, and the Vashi-Koperkhairane Road, Ghansoli Flyover, Thane-Belapur Road, Pawne Flyover, and Palm Beach Road all offer great connections. After a four per cent YoY price increase, housing units in the area are currently valued at about Rs 12,650 per square foot.

Located adjacent to the Mumbai-Pune Expressway, Kamothe is a locality offering houses at around Rs 8,650 per sq. ft. The upcoming Navi Mumbai International Airport is just nine km from here, which has contributed to almost four per cenmarketst annual price growth. Rentals here hover around Rs 15,500 per month for 2 BHK units.

Roadpali is an inexpensive locality with sound infrastructure and well-connected roads. It is just five km from Kalamboli, Khandeshwar, Mansarovar, and Kharghar railway stations. The residential inventory in Roadpali caters to people working in the Belapur CBD, situated at a distance of 10 km. While property charges average around Rs 8,200 per sq. ft, monthly rentals for a 2 BHK start from around Rs 15,000.

Situated at 3 km from Kalamboli Industrial Area and around 15 km from Belapur CBD, New Panvel benefits due to its lower purchasing and renting values. Property charges here average at Rs 8,100 per sq. ft and the rentals start from Rs 13,000 per month for a 2 BHK.

The area boasts of a network of well-planned and wide arterial roads, offering easy connectivity to Badlapur, Dombivli, Dadar, Kalyan, and Thane. CIDCO Science Park on the upcoming Navi Mumbai Metro Line 1 will be the nearest metro station.

With numerous future developments, investment in Navi Mumbai suburbs is anticipated to garner higher returns. However, end-users and investors must coddle in thorough market research before channelising their hard-earned money in the residential market.