Navi Mumbai: India's Next Big Premium Residential Locality
Bangalore: Navi Mumbai when developed in the year 1972 was never thought to become one of the most sought after areas. Properties are like hot cakes in Navi Mumbai where investors and buyers wait to get a piece of it and the demand for property pushing the prices to go up. Also, the prices have gone ten-times higher than when this planned Satellite Township was developed in Mumbai.
Navi Mumbai is witnessing strong demand for properties because of good infrastructure. With multiple developments in both physical and social infrastructure, Navi Mumbai is turning into an independent township which is no longer confined for mid-income families, reports Ranjita Ganesan of Business Standard.
In Navi Mumbai, areas like Palm Beach Road, Ulwe, Kalamboli, Kharghar and Panvel are emerging as the most promising property investment destination.
Ulwe has emerged as the hottest destination for real estate investment in India. Over the next five years, the housing prices in Ulwe are likely to increase by 145 percent, according to the Knight Frank's investment advisory report 2012.