As we move to the west of Mumbai, a new urban planned township can be seen. It is Navi Mumbai, one of the best planned townships in the world with an area of 344 sq kms. Millions of rupees have been spent and much more is invested already for the future infrastructural development.
The place is a melange of commercial and residential complexes and beauty of the surrounding. The body responsible for the development of Navi Mumbai is the City and Industrial Corporation of Maharashtra Ltd. (CIDCO) and Navi Mumbai Municipal Corporation (NMMC). It all started with 14 townships namely Airoli, Ghansoli, Kopar Khairane, Vashi, Sanpada, Nerul, CBD Belapur, Kharghar, Kalamboli, Jui Kamothe, New Panvel, Ulwe, Pushpak and Dronagiri at first but now it has grown to full extent and includes 95 villages in it.
Adequate utility services, banks, restaurants, malls, multiplexes and other shops are available in the locale. One of the very well developed areas of Navi Mumbai is Vashi that boasts of its shopping malls like Center One, Palm Beach Galleria, and Citi Center. Well it is not surprising that now the region has five star hotels also.
The presence of fortune companies is also felt with the advent of Reliance and other companies such as CORE Projects & Technologies Ltd, Hexaware Technologies, Mastek, Enser Communications, and Patni Computer Systems etc. Also the Navi Mumbai Special Economic Zone (SEZ) located in Dronagiri and Kalamboli are planned to provide commercial growth and employment to the city.
The place has excellent connectivity and transportation facilities. It is well connected with the help of NMMT buses and suburban trains. Navi Mumbai is located just 30 km away from Chatrapati Shivaji International Airport which currently acts as the International Airport for the city. But a new international airport for Mumbai, destined for the Panvel area, will be built through public-private partnership, with private sector partners and the Airports Authority of India and Government of Maharashtra.
Navi Mumbai has its own International Cricket Ground in Nerul called the DY Patil Stadium. All these achievements speak volumes about the development of the location. Hence all the factors contribute to the real estate boost and increment in need and cost.
Areas like Airoli, Belapur-CBD, Palm Beach, Sanpada, Nerul, Seawoods and vashi are hot pick of the hour and the land prices ranges from Rs 7000 – 14000 sq ft.
Several new projects from prominent builders such as Lakhani Builders, Shree Labheshwar Developers, Moraj Group, Satyam Developers, Today Group etc are in the pipeline which would be serving 1, 2, 3 BHK apartments and other categories of flats and houses.
With real estate development, Navi Mumbai is standing true to all environmental management standards. Now it has strengthened its foundation and caught the attention enough. It has grown well and will grow enormously, as foreseen from the current scenario of maturation of Navi Mumbai.