Navi Mumbai Real Estate-It's Where The Growth is

by George Gonigal - Date: 2007-11-06 - Word Count: 345 Share This!

The real estate markets of Navi Mumbai are going from strength to strength. And there is no reason why it should not be. Both capital prices and rentals in Mumbai are touching skies and business organizations are finding it increasingly difficult to cope up with the overheating property values.

Property prices in Navi Mumbai, at the other end, are pretty less in comparison to Mumbai, and the state of infrastructure here is not as congested as the main commercial areas of Mumbai.

Of late, a slew of IT and ITeS companies has established their huge facilities in the region and are quite happy with the viability of operating their business from the place.

Further to their delight, Navi Mumbai is all set to get world-class infrastructure with several ambitious projects in the offing. The biggest of them is perhaps an international airport that is likely to place Navi Mumbai real estate in the attention of international companies, and investors.

The road connectivity is also not lagging behind in any ways. Construction of a Transharbour link between Colaba-Uran-Sewri-Nhava is going on at war scale while a road bridge between Mulaund and Airoli is expected to set property prices in Navi Mumbai on fire.

"The kind and size of infrastructure projects that are under development in Navi Mumbai have potential to generate massive demand for commercial real estate in Navi Mumbai, let's see what happens in future," says a property agent dealing in Navi Mumbai properties.

Meanwhile, Navi Mumbai real estate is enjoying bullish attitude of real estate developers and business houses. The Reliance Group has already announced to construct a huge 4,000 hectare Special Economic Zone (SEZ) in the region and about 7-lakh square feet of commercial space will be added to Navi Mumbai properties by the end of 2007.

As per studies, the office space rentals in Navi Mumbai are in the range of Rs 40-75 per square foot, at present.

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Related Tags: buy, sell, flat, rent, apartment, mumbai property, mumbai properties, mumbai property prices

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