Western India’s hill stations provide good investments for second homes.
Due to a lack of open space in Mumbai and Pune, people have gravitated to the outskirts and green expanses around the hilly districts, away from the noise and commotion of the metropolis. As a result, possible second home investment locales such as Khandala, Lonavala, Karjat, and Alibaug, which were previously known as weekend getaway destinations, have emerged.
Consider the following cities and their primary development drivers:
- Khandala and Lonavala:
Because of the scenic and outstanding view of the hills and forests, Lonavala and Khandala have become popular weekend getaway spots for Mumbai and Pune people. Premium developers like as Lodha Group, Kalpataru, Piramal, and Lakhani have a significant supply of row-houses and bungalows in the pipeline. In contrast to row homes, villas, and gated communities, there is a high demand and supply for plots in Lonavala and Khandala. Although the train network on the Lonavala-Kalyan-Thane-Navi Mumbai and Lonavala-Pune lines is well-established, the regions remain disconnected from other areas such as Panvel and Navi Mumbai.
- Karjat:
Karjat is a Mumbai suburb located in the heart of the Western Ghats. Karjat is well-known for its tourism, adventure sports, Bollywood filming, and spa. It has good connections to Mumbai and Pune. Furthermore, because Karjat has its own railway station, it has direct train access to Chhatrapati Shivaji Terminus, Mumbai, Khopoli, and Panvel. As a result, Karjat is a popular choice for second houses near Mumbai.
- Shahapur:
Shahapur, 90 kilometres from Mumbai and 67 kilometres from Thane, is rising as a new second home destination due to its positioning strategy on the Mumbai-Nashik (NH3) highway and tourism attractions. Furthermore, the location has been designated as a no-chemical industrial zone, with an abundant supply of fresh water. Experts also see it as a developing third Mumbai or Nashik’s twin city. The current capital values in the area range between Rs 2,500 and Rs 3,500 per square foot. As a result, it is chosen by middle-income homeowners.
- Panchgani:
The location is located in Satara district, Panchgani, and is encircled by five hills of the Sahyadri Ranges. Panchgani has a serene and peaceful atmosphere. Due to high visitor interest, it has seen a spike in residential and commercial construction in recent years. In addition, property costs are affordable when opposed to Mumbai, Pune, and Mahabaleshwar.
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.
