Navi Mumbai is becoming a preferred destination for buying a property offering affordable rates than Mumbai City and Suburbs. Many SMEs and even large companies have their manufacturing and/or production units and even operational offices in Navi Mumbai. This is because of affordable property and land prices. Navi Mumbai has a good strategic location connecting Mumbai, Thane, and Panvel. Currently, Navi Mumbai is thriving with ongoing infrastructural projects like Transharbour Link, Metro Rail, and International Airport. Let us have a quick run-through about the reasons for buying property in Navi Mumbai.
1. Good infrastructure and connectivity
In Navi Mumbai, Vashi is the most developed locality to connectivity in three directions, Thane, Panvel, and Mumbai. Belapur has several government offices like CIDCO, Maharashtra Public Service Commission Office, Consumer Court CBD Belapur, etc. Juinagar has several SMEs offices creating employment opportunities. Kharghar is another locality developing at a fast pace. Vashi and Kharghar have all the amenities like shopping malls, banks, gyms, restaurants, schools and colleges,parks and clubs, multispecialty hospitals, etc.
The entire Navi Mumbai region is well connected with a network of wide roads. From Vashi, you can connect to Thane, Mumbai, and Panvel as stated earlier. Pune is also a 2.5-hour drive from Navi Mumbai as Express Highway is at a distance of 20 minutes from Vashi and less than 5 minutes from Kharghar.
Vashi is situated close to MHAPE IT Parks, MIDC Mhape, and Dhirubhai Ambani Knowledge City-based at Koparkhairane.
2. Growing economy
In the last almost 3 decades, Navi Mumbai has been progressive through its continuous development. There has been a rise in commercial and industrial infrastructure creating a lot of employment opportunities. People from different cities are choosing Navi Mumbai for employment as well as for accommodation for its affordability. So it has become a popular destination to buy or rent a place.
3. Complete lifestyle
Navi Mumbai through its continuous development in the commercial, industrial and infrastructural sectors has now established itself by offering a complete lifestyle. It offers great employment opportunities, widespread connectivity, and the life essentials at convenience as mentioned earlier. It is a 1-1.5-hour drive to Khandala and Lonavla for a quick weekend destination.
4. Property pricing
Navi Mumbai has a variety of properties to offer. You have several options like apartments, villas, plots, commercial/industrial property to choose from.
Property prices vary as per the location in Navi Mumbai. Vashi stands at the top for price and Panvel is the most affordable. In Vashi, you can buy a 1 BHK starting from ₹50 lacs and around a crore for one in a prime area. Whereas, Karanjade in Panvel offers a 1BHK starting from Rs.25 lacs and 2 BHK from ₹35 lacs.
The rent for a 1 BHK property ranges from ₹6,000 to ₹18,000 spreading over localities from Karanjade, Panvel to Vashi prime area.
5. Good Investment opportunity and a high ROI
Navi Mumbai is one of the best destinations for investment purposes as well. You can consider buying a property close to the infrastructural developments like the International Airport, metro, or Transharbour Link. The property price will be appreciated by 30-40% post completion of these projects.
On a concluding note, Navi Mumbai is sprawling with building and infra developments. If you are employed in Navi Mumbai then it is worth considering buying a property here. And even a property bought as an investment will fetch you guaranteed appreciated returns in the next couple of years
FAQs
Investing in Navi Mumbai allows individuals to capitalise on the city's emerging commercial and IT hub. Compared to Mumbai, Navi Mumbai offers relatively more affordable real estate options, making it an attractive choice for investors.
Why buy property in Navi Mumbai? ›
Investing in Navi Mumbai allows individuals to capitalise on the city's emerging commercial and IT hub. Compared to Mumbai, Navi Mumbai offers relatively more affordable real estate options, making it an attractive choice for investors.
What are the advantages of living in Navi Mumbai? ›
Navi Mumbai offers a relatively pollution-free environment. Cleaner air and a more tranquil atmosphere contribute to a healthier and more relaxed way of life.
Which area in Navi Mumbai is best for investment? ›
6 Best Places to Buy a Property in Navi Mumbai in 2024 Buying Guide
- Taloja: Gateway to Growth. Taloja, situated in Navi Mumbai, is becoming a focal point for property investors. ...
- Panvel: Navi Mumbai's Urban Oasis. ...
- Kharghar: The Navi Mumbai Marvel. ...
- Belapur: Navi Mumbai's Financial Hub. ...
- Ulwe: Seaside Splendor. ...
- Uran: Coastal Gem.
Navi Mumbai is home to various educational institutions. Various multinational corporations have their head offices/branches across the city, making it an active business hub. Navi Mumbai also has recreational facilities such as a Golf Course, Central Park and Pandavkada Water Falls in Kharghar.
Is it worth buying home in Navi Mumbai? ›
Economic Growth and Employment Opportunities
People from different cities are choosing to live in Navi Mumbai for employment opportunities and affordable accommodation. Moreover, there has been a rise in industrial and commercial infrastructure, which provides many jobs to the residents of this city.
Is it worth buying a flat in Navi Mumbai? ›
More space than mainland Mumbai
Navi Mumbai is still expanding, with projects coming up in nodes as far as Panvel, Uran and Taloja. The city is greener than Mumbai, hence making it a preferred choice for homebuyers looking to get away from the hustle and closer to nature.
Why Navi Mumbai is better than Mumbai? ›
Pollution
Mumbai is ranked 31 in the most polluted cities in the world, whereas Navi Mumbai has a rank of 134. The ranking itself is self-explanatory. The number of factories and industries in Navi Mumbai is less in comparison to Mumbai, making the air more breathable. Besides, there is more greenery here.
Why property rates are high in Navi Mumbai? ›
Property rates in Navi Mumbai are high due to factors like excellent connectivity to Mumbai, proximity to business hubs, growing infrastructure, and increasing demand for residential and commercial spaces in the region.
Which is the most posh area in Navi Mumbai? ›
Ans: In Navi Mumbai, some of the most expensive areas include Belapur, Palm Beach Road and Nerul. These localities are known for their premium properties, upscale amenities, proximity to commercial hubs, and scenic waterfront views, contributing to higher prices.
The Navi Mumbai International Airport will be completed in four phases between now and 2032. On completion, a total of 142,000 direct and 200,000 indirect jobs are estimated to be created as a result of the project. The government is also planning a quick mass transit system.
How much salary is enough to live in Navi Mumbai? ›
A comfortable lifestyle in Mumbai typically requires a monthly salary of at least ₹30,000 to ₹50,000, depending on your living standards and accommodation choices.
Where do richest live in Mumbai? ›
South Mumbai, also known as "SoBo", is what posh living is all about. This area includes iconic neighbourhoods such as Colaba, Malabar Hill, and Cuffe Parade. They offer a mix of old-world charm and modern luxury.
Why did Navi Mumbai fail? ›
Activists allege that NMMC has failed to contain the rising number of illegal constructions in the city. Buildings without proper certificates are given connections under political influence. Over 3,000 illegal constructions were found in the last five years, with the number increasing to over 15,000 in 2023.
Why is Navi Mumbai cheaper? ›
The traffic here is way less as compared to in Mumbai. The flats are cheaper here since not many people live in Navi Mumbai.
Is Navi Mumbai costly? ›
In Navi Mumbai, housing is a significant experience. A single bedroom apartment in a good area costs between ₹25,000 and ₹45,000 monthly. A two-bedroom could cost from ₹45,000 to ₹60,000 a month. Lower these costs by considering a shared apartment or a PG, a type of accommodation.
Is Navi Mumbai a good place to live? ›
Living in Navi Mumbai gives you the benefit of planned infrastructure and a natural ambiance. Besides these perfect settings for living, Navi Mumbai has also emerged as a commercial hotspot. The availability of prominent hospitals, schools, and entertainment has ensured a comfortable lifestyle in Navi Mumbai.
