Navi Mumbai Related Discussions

b2b · Post by **b2b** » Mon Sep 03, 2007 2:48 pm

With the planned new airport, railways, IT Park and other modern amenities - Navi Mumbai looks very attractive.

http://www.cidcoindia.com/frm_plans.htm

Has anyone invested there in RE? Or bought anything for self residential purpose? What are the good areas, what rates are going on? Any good projects.

What about schools and other amenities / developments.

Any information would be quite useful.

b2b · Post by **b2b** » Mon Sep 03, 2007 2:49 pm

Also any idea how to buy plots from CIDCO?

Tapori · Post by **Tapori** » Mon Sep 03, 2007 10:07 pm

http://en.wikipedia.org/wiki/Navi_Mumbai

I bought a flat in Koppar Khairane (which is an extension of Vashi) . Costed me Rs 2500 / SQ FT. Last of the flats in that apartment were sold for Rs 3500.
In the last 2 years rates have almost tripled partly because of the airport/reliance infotech etc coming up close by and also partly because CIDCO has been slow to release land to builders to build apartments. Because of the latter, the supply has been slow and it has been a sellers market. Builders have been quoting their price and even it there are some empty apartments, they continue to sit on it till they get a buyer for the same because they do not have multiple projects to roll the cash over.

The above link will give you all the other info. regarding schools etc in Navi Mumbai.

Good luck.

Tapori · Post by **Tapori** » Mon Sep 03, 2007 10:47 pm

Last of the flats were sold for Rs.3500 just 2-3 months back. Sorry the time frame was not clear in my earlier email.

b2b · Post by **b2b** » Tue Sep 04, 2007 5:32 pm

Thanks Tapori

hatasawankighata · Post by **hatasawankighata** » Thu Sep 06, 2007 3:46 am

this company - http://www.citysquarecorp.com/cityCorporate/jsp/projects/mumbai/ameniti/ameniti_overview1.jsp?projectCity=mumbai&projectID=Ameniti - is selling "Residential Land at Rs 475/- Per Sq Ft, near to Upcoming International Airport, close to Dhirubhai Ambani Hospital,It situated near old Mumbai - Pune Highway and Reliance SEZ IT Park".

i got this information from some guy with flyers outside a desi restaurant restaurant in jersey.

b2b · Post by **b2b** » Tue Sep 11, 2007 2:00 am

What's the outlook for the area? Can one look at RE in Kharghar / surrounding area for investment purposes?

I understand in next 6-12 monts most Pune - Mumbai trains will take Pune > Karjat > Panvel > Thane > Mumbai route instead of current Pune > Karjat > Kalyan > Thane Mumbai route and of course same on reverse route.

Kharghar is ardly 90 min from Pune by express way, with the state of the art railway station it is well connected to Mumbai (Kurla Harbour line). Very close to Mumbai by road - Sion > Panvel expressway. Close to Vashi, CBD etc.

Also the close by Reliance and other SEZ, planned infra and layout by CIDCO, proximity to proposed knowledge corridor and political direction & intention to move things from Mumbai to Navi Mumbai all seem in favour of the region.

Proposed New Mumbai International Airport would be at Kharghar. All these point that in 5-6 years from now it may appreciate a lot. And also it may become prime centre in Mumbai - Pune area.

Current rates I checkd in Kharghar are about INR 3000 p sq ft for flats. There are independent plots / row houses etc are also available on re-sale. Originally sold by CIDCO - 10 years back. Now people are reselling they got multimega times appreciation in 10 years. Of course 10 years ago there was nothing in the area and Indian economy was not on a roll as it is now.

HighTorque · Post by **HighTorque** » Tue Sep 11, 2007 2:10 am

b2b;42846With the planned new airport, railways, IT Park and other modern amenities - Navi Mumbai looks very attractive.

http://www.cidcoindia.com/frm_plans.htm

Has anyone invested there in RE? Or bought anything for self residential purpose? What are the good areas, what rates are going on? Any good projects.

What about schools and other amenities / developments.

Any information would be quite useful.

Yes, myself and few others have invested in kharghar. Though the appreciation was good last few yrs, this year it has been pretty much on a standstill or very slow.
All promises are on paper as in most cases in India. However recently there seems to be some renewed energy around SEZ.

Proposed New Mumbai International Airport would be at Kharghar. All these point that in 5-6 years from now it may appreciate a lot. And also it may become prime centre in Mumbai - Pune area.

no, the new airport will be in new panvel, not kharghar.

b2b · Post by **b2b** » Tue Sep 11, 2007 2:29 am

HighTorque;44284Yes, myself and few others have invested in kharghar. Though the appreciation was good last few yrs, this year it has been pretty much on a standstill or very slow.
All promises are on paper as in most cases in India. However recently there seems to be some renewed energy around SEZ.

Proposed New Mumbai International Airport would be at Kharghar. All these point that in 5-6 years from now it may appreciate a lot. And also it may become prime centre in Mumbai - Pune area.

no, the new airport will be in new panvel, not kharghar.[/quote]

Thanks HT. What's your opinion on investing now? Which are the areas one should look at if the answer to earlier question is favourable?

Also thanks for clarifying about the airport. How far is it from Kharghar? Someone told me it is very near from Kharghar though by city limits it falls at Panvel-Kopar? Or is that wrong?

Can someone provide some links on the proposed new airport at Navi Mumbai - info, map, location etc. What would happen to domestic airport? If present CST Airport at Sahar becomes domestic airport for Mumbai then how will these two be connected?

HighTorque · Post by **HighTorque** » Tue Sep 11, 2007 2:31 am

Current rates I checkd in Kharghar are about INR 3000 p sq ft for flats.

Additionally, I dont think 3000/sq.ft is the rate for any reputed builder. Last time I heard, they were quoting 3700 to 4200 range.