Navi Mumbai Property Market to witness traction in 2016
The New Year 2016 has brought a good ray of hope for the Navi Mumbai market. The News of Trans-Harbour Link to commence work has come in, the Airport cornerstone should be laid before Mid 2016, the Metro from Taloja to Belapur will begin by 2017 End, the track-laying works up to Ulwe through Seawoods is on way. All this is shaping up and by 2020 you will see a lot of traction in Panvel and surrounding areas.
The projects to benefit the most will be Sai World City by Paradise Group, Hiranandani Fortune City by Hiranandani Communities Pvt.Ltd, Marathon Group, Indiabulls Real Estate and the project Adhiraj Samyama by Adhiraj Constructions Pvt.Ltd. In short, the big brands will do much better than their peers. Navi Mumbai has already seen considerable delays and we hope that the projects by the Top Developers will be in line.
Navi Mumbai market in 2015 went at a much slower pace, but if you look at a long-term comparison with Western Suburbs and Eastern Suburbs in Mumbai where a 2 BHK costs nearly Rs.1.5Cr to Rs.2.00 Cr, this is where Navi Mumbai will score with excellent road connectivity it will surely appeal to the next generation home buyer and especially with Cleaner Layouts and Slum Free environment, it has a better quality of life.
The markets should go up 8% to 10% in 2016 to select projects in Navi Mumbai.
Mumbai Property Exchange