Why is Sanpada a popular hotspot in Navi Mumbai?
In the last 3-5 years, Sanpada, located in Navi Mumbai has caught a lot of homebuyers’ attention.
The seamless connectivity, improved supply of readily available homes, industrial developments, and steady rate of capital appreciation have favored the micro-market. All of this makes Sanpada a promising investment destination in Navi Mumbai.
Due to the Mumbai-Pune Highway, Sanpada has become an upmarket residential area in Navi Mumbai and has benefitted from the connectivity of Pune and Mumbai. The entire area has very affordable cooperative housing societies and apartment complexes as compared to the rates in Mumbai.
Sanpada has gained a lot of real estate momentum because of many business opportunities being developed in the area. It has got a reputation of a self-sufficient community which is organized but not congested, all of this has only contributed to its growth. Sanpada’s lower lease rates have also boosted the sales. After the PMAY (Pradhan Mantri Awaas Yojana) was presented a proposal by CIDCO (City and Industrial Development Corporation) to approx 1 lakh affordable houses.
Due to its proximity to Taloja MIDC (18 km), Ulwe (12km), and Central Business District (CBD) of Belapur (15km), Sanpada is attracting many home seekers.
Factors increasing real estate investment in Sanpada
Seamless connectivity
Mumbai and Sanpada have an 18 km distance between them. The Mumbai-Pune Highway offers good connectivity to many prominent localities. The Thane-Belapur road and the Palm Beach Road are among other key roads that offer extensive reach. Due to its strategic positioning, MIDC (Maharashtra Industrial Development Corporation) operates from Sanpada.
Apart from its excellent road connectivity, Sanpada also has good railway connectivity on the Harbour Line. The railway line connects Sanpada to Thane (20km), Panvel (20 km), Chhatrapati Shivaji Terminus (32 km), and Chhatrapati Shivaji International Airport (23 km). The under-construction airport in Navi Mumbai would also prove to be a great growth driver for Sanpada.
Nearby employment hubs
Although it is landlocked with highway and railway on each side, Sanpada houses great commercial complexes which have reputed organizations like ICICI Securities Ltd, Muthoot Finance Ltd, Future Generali India Insurance Company Ltd, and the State Bank of India (SBI). Many prominent business hubs also exist in Sanpada and together they contribute to the growing real estate demand in the locality.
Price trends
According to research, Sanpada has seen an 8% growth in property prices over the last 3 years and this is a good indicator of the investment potential that it possesses. Rs 900 per sq ft is the average home value in Sanpada and the property prices start at Rs 15,000 per sq ft. All of this indicates that buying and selling property in Sanpada is very lucrative.
Sanpada being one of the topmost real estate hotspots in Navi Mumbai makes it the most sought-after place for housing after Mumbai. It has a rapidly developing retail and social infrastructure which pushes its prices higher. So, if you’re looking for realty investment, Sanpada should be on your mind.
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.
