Mumbai is best known for the dynamic and ever growing metropolis. The metro single–handedly serves 5% GDP of India as it’s apparently considered as a prime financial market of the country. The greatest lure of real estate sector in Mumbai is having advanced infrastructure and presence of renowned MNCs and giant real estate development companies. But the property price in Mumbai has been always ahead of the other metro cities of India. Despite Navi Mumbai shows some good rank in terms of real estate development and sale just as the growth of budding property in Kolkata north. During this sluggish real estate market few outskirt sectors of metros have kept the hope alive from the buyer’s perspective. Soon the city will be essentially proactive in order to fulfill the increasing market demand.
According to a report by Knight Frank new projects launch in Mumbai is exactly the double in the first half of 2016 than that of the previous year. This specific zone has been witnessing close to 28% above sale based on the new project inaugurations and market demand. Well, this is the ideal time for the Mumbai property buyers to explore the micro locations of the metro for grabbing their desired residential units. These include the projects near Navi Mumbai airport, CST Panvel, widening of the Sion-Panvel Expressway. These projects will enhance the connectivity in the city as Navi Mumbai has mono rail, metro rail connectivity in addition.
The second half of 2016 has also brought a wide grin in the realty sector along with the festive season and its lucrative offerings. Now it’s the favorable time to go ahead with the property buying decision for the market speculating home buyers. Adding on passing of the Real Estate bill and the new land acquisition bill have turned practically helpful for the well-acclaimed builders of Mumbai to provide accurate transparency to their forthcoming buyers. . Besides the government has declared a series of positive initiatives that can boost the overall market sentiment which will lead to a major real estate expansion at the end of 2020 as expected by the market experts. Asish Raheja, Managing Director of Raheja Universal Pvt. Ltd says, ‘’ Most of the infrastructure projects in Navi Mumbai are currently under construction. It is best advised that homebuyers invest before these projects are completed. As a general rule, investors must go for micro-locations which don’t have full-proof social infrastructure, but does have upcoming civil infrastructure. Since social infrastructure always follows the civil infra, such areas will yield better returns in the long run.’’