The property market in Navi Mumbai is back in top gear. After the 10 to 20 percent slump due to rising property rates. In the last six months, there is a 25 percent increase in demand, and also rise in rates by about 20 percent.
Navi Mumbai is definitely emerging as the city of the future. The D.Y. Patil Stadium, the upcoming SEZ, International airport, the IT industry moving in, and the malls and five star hotels have all added to the glitter of the city.
People have woken up to realise that they should have bought homes here, before the hike in rates. There are customers coming here with 15 to 20 lakhs, looking for 2 BHK's (2 bedroom-hall-kitchen) only to realise that the amount can fetch them a CIDCO 1 BHK now.
the property prices are competing with the skyscrapers!
ReplyDeleteThis is a very interesting post.
ReplyDeleteGives us some good info and the estate market.
I like the washing there on the balcony. I’d struggle without a backyard, although I guess not everyone can have one in a big city like Mumbai!
ReplyDeleteIt does look like the right time to invest. Mumbai is definitely a city on the radar screen right now. The Belgian radio, to which I listen via podcast here in NYC, had a series of special programs on Mumbai and India a week or two ago. It was very interesting.
ReplyDeleteMaximimizing land space in prime area is really a profiteerers goal. Nice shot here.
ReplyDeleteGood for you! That property values are climbing.
ReplyDeleteMari-Nanci
Photos-City-Mine
I'm almost sure I commented twice on this post, but maybe you're not interested on my views on the real estate market in Mumbai... ;))
ReplyDeleteWell, then I tell you that I love the Venna Lake series... ;))
Have a great weekend!
Is it true that there is ban on construction of highrising building around navi mumbai airport especially kamothe and kharghar??
ReplyDelete