To buy or not to buy in Ulwe
Jan 18, 2014
Source : The Times of India

 

MUMBAI: Inspite of all the infrastructural delays in Ulwe, there seems to be a golden opportunity in this climate of subdued sentiments. Let me try to substantiate the rationale behind this line of reasoning:

  1. Unarguably, Navi Mumbai is the most preferred destination of all the peripheral locations of Mumbai because of connectivity, infrastructure and the planned layout. Having said that, all the larger, well planned nodes of Navi Mumbai like Vashi, Kopar Khairane, Sanpada, Nerul, Seawoods, Kharghar & Kamothe are practically exhausted in terms of inventory. There are hardly any vacant land parcels in these nodes where projects can come up. Ulwe is the nearest developing node in Navi Mumbai that still has substantial inventory on offer at a decent price band. This ensures that Ulwe would have a surge in demand the moment the internal infrastructure is in place.
  2. The travelling distance of Ulwe from Mumbai/Vashi is equivalent to the distance of Kharghar from Mumbai/Vashi. So, distance and accessibility are no issues.
  3. Ulwe is a large node with a sizeable geographical expanse. Hence, civic amenities and public transport connectivity would be better than some of the smaller nodes. As they say, Size Does Matter.
  4. A huge Sports Complex cum Club (with outdoor games, indoor games, restaurants, bars and a huge banquet Hall) is already up and running with lifetime membership at reasonable rates for the general public. It is occupying an entire sub-sector and is by far the biggest in Navi Mumbai. In years to come, this would be a landmark location of the entire Navi Mumbai. It would benefit the local residents in terms of form, fitness and relaxation.
  5. The Seawoods Uran Railway Line, once completed, would directly connect Ulwe to the Suburban CST-Panvel Railway Line.
  6. CIDCO has provided plenty of reserved plots in terms of play grounds, gardens, open spaces, educational institutions and social facilities. In fact, in terms of aesthetic value, Ulwe would be rated as good as Kharghar, if not better, in the future.
  7. For all its delays and hiccups, Navi Mumbai International Airport is not only a feather in the cap for CIDCO, but a prestige issue for the State Government as well, not to mention the genuine need to decongest the existing Mumbai International Airport. Hence, the Airport project will definitely see the light of the day. In fact, grapevine has it that the current MD of CIDCO (who is known for his no nonsense approach) has been specifically brought in with the agenda of the Airport Project commencement as top priority.

Thus, the answer to the question “To Buy or Not to Buy?” is – to buy, but to opt for under construction projects which are still at nascent stages. By the time your project is ready for occupation, it would be ably supported by the surrounding infrastructure.

All in all, Ulwe would prove to be a wise purchase decision at current price levels, provided one does not look at it from a short term perspective. Keep a horizon of 4-5 years in mind and you are sure to reap the ensuing benefits, whether as an investor or as an end user.

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