The Brihanmumbai Municipal Corporation (BMC) has completed several important road infrastructure projects, driving Navi Mumbai’s real estate sector to enter a revolutionary age. Along with improving access to Mumbai, the projects also uncover enormous real estate potential, especially in the premium market. Navi Mumbai is becoming a sophisticated retreat for affluent buyers and investors looking for high-quality homes away from the traffic and expensive Mumbai, thanks to its accessibility.
A cutting-edge piece of infrastructure, the Mumbai Trans Harbour Link (MTHL) is expected to completely transform Navi Mumbai’s real estate market. It will only take 20 minutes to go from South Mumbai to upscale Navi Mumbai nodes like Ulwe, Panvel, and Dronagiri, as it’s a 21.8 km long sea link, which is expected to be the longest in India. With improved connectivity, these areas are expected to develop into upscale residential hotspots where professionals and high-net-worth individuals can take advantage of the convenience of Mumbai’s corporate districts.
Apartment prices in these micro-markets are expected to rise sharply, according to real estate market data analysis and consultancy organisations like Knight Frank and Anarock, further solidifying these areas’ appeal as investment destinations.
Another important reason contributing to Navi Mumbai’s real estate development is the Sion-Panvel Expressway’s rising and enlargement. With improved connectivity, these areas are expected to develop into upscale residential hotspots where professionals and high-net-worth individuals can take advantage of the convenience of Mumbai’s corporate districts.
The improvements are expected to support real estate growth in younger neighbourhoods like Taloja, Kharghar, and CBD Belapur, where demand for luxury residential and commercial real estate is already on the rise. Infrastructure-driven real estate growth in these regions is attracting both end users and institutional investors due to improved liveability and connectivity, according to a new JLL India analysis.
The ‘Marine Drive of Navi Mumbai,’ as Palm Beach Road is well-known, is driving the city’s exclusive residential market. This lovely seaside road is becoming an even more desirable residential area as a result of its planned expansion. In order to capitalise on the trend, ultra-premium developers are constructing gated communities, penthouses, and high-rise towers that cater to wealthy people seeking a luxurious beachside lifestyle.
The Uran Bypass Road is the other significant road project driving the growth of real estate. This highway connectivity improvement offers pleasant road driving alternatives to Jawaharlal Nehru Port (JNPT), India’s largest container port, as well as improved access to Navi Mumbai’s quickly growing industrial and residential clusters. Corporate professionals and industrialists who want upscale living facilities close to their places of employment are finding the neighbourhoods along the corridor appealing due to the improved connectivity.
Source: Times Property
