In 2022 Navi Mumbai Real Estate Becomes More and More Desirable For Property Buyers

There are several indications that the price of real estate in Navi Mumbai may surge during the next five to ten years. Enhanced connection is one of the primary factors.

More than three-quarters of the Belapur-Uran suburban rail line's construction has been completed; let's explore how this will effect the micromarkets along its route.

Upon the first extension of the suburban line to Ulwe, the local real estate market skyrocketed. A part was also played by the auspicious puja conducted at Navi Mumbai International Airport (NMIA). With the exception of the recent pan-Mumbai price increase prompted by the increased cost of raw materials, prices have been reasonably stable since then.

The NMIA is partly responsible for the excitement around the Ulwe-Uran areas, but Mumbai people who go daily to the city need a train link. The recent announcement by Central Railway (CR) that the Belapur-Uran suburban railway line is under advanced development and would be open to the public by September 2022 is a gift in disguise.

What is being transformed?

Coordination with the City and Industrial Development Corporation has begun construction of the line (CIDCO). CR's chief public relations officer, Shivaji Sutar, elaborates:

"We are partnering with CIDCO to ensure that the first train to Uran will be operational by September. We hope that the new link to a brand-new suburb will offer the public with an important and cost-effective transit option."

The first two stations on the line, Bamandongri and Kharkopar, commenced operations in 2018. They are separated by around three kilometres. After the completion of the last railway line, Gavhan, Rajanpada, Nhava Sheva, Dronagiri, and Uran city would be accessible to the public.

Unlocking further potential of Navi Mumbai:

Yogesh R, a real estate broker in Navi Mumbai who services areas between Ulwe and Dronagiri, said,

"The prices of homes in Navi Mumbai with basic amenities (car/bike parking space, garden, etc.) have increased from Rs 30 lakh in.2018 to Rs 60 lakh at now. Moreover, buildings that provide upmarket amenities such as a pool, gym, and badminton court cost between Rs 1.5 crore (2 BHK) and Rs 2.5 crore nowadays (3 BHK)

The territories around hitherto undiscovered stations like Gavhan, Rajan pada, and Uran city will be essential.

In terms of Navi Mumbai real estate, the most affordable areas are currently located outside Ulwe. Those interested in acquiring a 2-BHK home in the price range of Rs 40-50 lakhss may like to check the following locations. In addition, when the new rail route opens, prices will undoubtedly rise in towns like Ulwe. This year may be essential if buyers are interested in buying in Ulwe real estate due to its proximity to Palm Beach Road.

Raju Kanchi, a resident of Nerul, plans to move to Dronagiri before the end of the year. After acquiring a 3-BHK apartment in Dronagiri for Rs 33 Lakhs in 2019, their family moved to Nerul sector 21. Due to the pandemic and other impediments, their family did not migrate to Dronagiri; but, with the advent of the Central Railway's new line, they are seriously considering shifting to Navi Mumbai, since the commute would be much less difficult.

Moreover, with a water jetty, the MTHL, and now the railway line, many Navi Mumbai real estate investors expect Dronagiri to become one of the most connected neighbourhoods in the city.