MUMBAI: Exorbitant real esate prices in Mumbai, have pushed residential demand towards Navi Mumbai. Today, the urban sprawl into the sub-city, has crossed all limits and has resulted in realty prices shooting up in Navi Mumbai too. However, despite the growing demand and consequent rise in capital values, one can still find a home for oneself in Navi Mumbai, within the affordable range of Rs 30-40 lakhs.
Interestingly, this was the most supplied budget category in Navi Mumbai, as per data with MagicBricks.com. If you are confused about which localities to target in Navi Mumbai and if Rs 40 lakhs is the maximum you can spend for a home near Mumbai, read on.
Kharghar, Kamothe and Ulwe, top the list of localities with a healthy supply of housing units in this budget range. Another trend noted was that 1-BHK units were the most supplied category in all these localities, within this budget. Further, as per the active listings on MagicBricks.com, nearly 30 per cent of the total supply in this budget range, was found in Kharghar. The locality is considered to be the Central Business District (CBD) of Navi Mumbai. Thus, it is ideal for those seeking a home in proximity to commercial setups. However, one has to compromise on the size of the housing unit. Within a budget of Rs 30-40 lakhs, nearly 100 per cent of the total supply was for 1-BHK units. Thus, while for single professionals it might prove to be an ideal residential location, families might have to move a little further.
Some of the developers in Kharghar offering housing within the said range, include Aristo Real Estate, Dev Enterprises, Shree Krishna Enterprises and Jai Builders and Developers. Located along the Mumbai-Pune Expressway, Kamothe is another locality one can opt for, in order to find a home within Rs 40 lakhs. It recorded the second highest supply of homes in this budget, with approximately 23 per cent availability. It enjoys proximity to CBD Belapur and is surrounded by Kharghar in the north, Taloja in the north-east, Kalamboli in the east and Panvel in the south.
Again, only 1-BHK units are available here within this budget range. Nearly half of this supply is less than five years old. One can find both, cooperative societies and freehold properties in Kamothe, in the Rs 30-40 lakhs budget range. Ulwe is probably one of the fastest growing suburbs of Navi Mumbai today. The locality also offers a healthy supply of units priced between Rs 30-40 lakhs. Ulwe offers both, 1 and 2-BHK units in this budget range, even though 1-BHKs are the most supplied. As it is a developing locality, it is difficult to find resale properties. Thus, if you are looking for a new or under construction property with upto Rs 40 lakhs in hand, Ulwe is the place for you. Some of the developers offering housing units in the Rs 30-40 lakhs bracket in Ulwe include Dreams Developers, Aristo Real Estate, Sunny Builders and Developers, Ganesha Constructions, Imperial Enterprises and Serene Lifespaces.