5 Best Places to Rent Properties in Navi Mumbai

For individuals who cannot afford to invest in Mumbai, Navi Mumbai is a cost-effective option.

In contrast to Mumbai’s increasing real estate costs, Navi Mumbai has emerged as a strategic investment hotspot, attracting investors and end-users from all around Maharashtra. Navi Mumbai, which began as a satellite city of Mumbai, has since grown to encompass a large area.

With the Navi Mumbai International Airport, Nhava Sheva Trans-harbour Link, and Navi Mumbai Metro set to open by the end of 2021, new nodes are coming up and current nodes are seeing significant infrastructural development. Infrastructure projects in areas like New Panvel, Ulwe, Uran, Taloja, Kharghar, and Kalamboli are causing property prices to surge, according to industry analysts. We’ve compiled a list of the best neighborhoods in Navi Mumbai to consider when purchasing or renting a home.

• Vashi

Vashi, one of Navi Mumbai’s two entrances, is also one of the city’s most costly and well-developed neighborhoods, with enough infrastructure including schools, hospitals, banks, hotels, restaurants, malls, and commercial spaces. Vashi, Turbhe, and KoparKhairane are all part of the Vashi locality. Vashi’s capital values range from INR 8,580 to 17,940 per square foot. Vashi is home to a variety of enterprises, including IT/ITeS, BPO, KPO, banks, chemical, industrial manufacturing, and others, making it an attractive alternative for employees looking to buy a property.

• Nerul

Nerul is a high-end residential and business district in Navi Mumbai, with low, mid, and high-rise apartments as well as single-row houses. Nerul also has several IT parks and commercial complexes, as well as an MIDC industrial region, professional institutions, and foreign schools. In addition, Nerul is home to the DY Patil Stadium, which hosts a variety of international sporting events, concerts, and other events. Through numerous infrastructural projects like the Palm Beach Road, Thane- Belapur Road, Sion- Panvel highway, and the Mumbai Suburban Railway, it has a great connection to Mumbai, Thane, the Jawaharlal Nehru Port Trust (JNPT), and the developing investment hub of Ulwe. Nerul’s capital values range from INR 10,100 to 16,150 per square foot.

• Panvel

Panvel is the most popular choice among purchasers looking for a property in Navi Mumbai. Panvel East, Panvel West, New Panvel, Khanda Colony, Karanjade, Adai, Chipale, and the Mumbai-Pune Expressway are all part of the neighborhood. Panvel’s capital values range from INR 4,230 to INR 9,850 per sqft. Proximity to the upcoming Navi Mumbai International Airport, as well as other planned infrastructure projects like the Navi Mumbai Airport Influenced Notified Area (NAINA), Trans Harbour Link, and others, as well as excellent connectivity to Mumbai city, are some of the major factors driving the Panvel real estate market.

• Kharghar

Due to a serene and green neighborhood, various affordable housing schemes by CIDCO, a large golf course development, and the upcoming metro connecting Kharghar with Belapur and the industrial area in Taloja, Kharghar has emerged as one of the major investment hotspots in Navi Mumbai over the last decade. Kharghar is also home to major academic institutions such as C-DAC, NIFT, Bharti Vidyapeeth, and ITM, as well as a slew of other engineering, medical, dentistry, management, and foreign schools. Kharghar’s capital values range from INR 7,000 to 10,780 per sqft.

• Airoli

Airoli offers a diverse choice of inexpensive to high-end apartments, appealing to consumers of all income levels. Schools and colleges, hospitals, restaurants, marketplaces, and parks make up Airoli’s social infrastructure. Through the Thane-Belapur Road and the Mumbai Suburban Railway, it is very well connected to Thane and Mumbai. Airoli is also attractive to property buyers because of its closeness to key employment centers such as Mindspace Technology Park, Airoli Knowledge Park, Reliable Tech Park, TTC Industrial Area, and a few MIDC Industrial zones. Airoli, Rabale, and Ghansoli are all part of the Airoli locality. Airoli’s capital values range from INR 9,300 to 14,080 per square foot.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.