Why has demand been rising?
Following the initial wave of Covid-19, housing demand soared in the two quarters between October 2020 and March 2021. This was aided by factors like stamp duty reductions by various state governments, builder incentives, and low financing charges. Starting with the second wave of Covid, the pace slowed in the quarter ending June 2021 but has picked up again in December 2021, thanks to greater economic openness, improved immunization rates, and more business output.
Reliable transportation in Navi Mumbai
The city offers a well-developed infrastructure of roadways and railways which provide easy access towards the city’s and neighbouring areas’ key centres, such as Mumbai, Kalyan, Andheri, and Thane. You didn’t have to worry about finding a handy way to the office if you were a frequent traveller. The future Navi Mumbai International Airport, which is set to open in 2024, has significantly boosted real estate in the surrounding area. The Santacruz-Chembur Link Road and the Mumbai Highway connect Navi Mumbai to the airport. Additionally, the expanded local train connectivity and regular bus services provided by Navi Mumbai Municipal Transport make real estate investment in Navi Mumbai an ideal alternative.
Wide range of housing option
There is a wide range of housing options in Navi Mumbai, including builder rooms, family housing, flats, villas, and terraced houses, which are all accessible at various price ranges. There’s also the issue of conflict of interest. Home loans are among the lowest in the country, making it an excellent opportunity to buy houses.
Inexpensive Housing prices
By comparison to Mumbai, Navi Mumbai has a high standard of life and offers reasonably priced real estate. Additionally, the holiday season in real estate is approaching, that indicates you may buy completely prepared or under-construction houses at a lower price. Property developers were offering zero stamp duty, rebate deals, and other incentives to entice house purchasers.
Shifting Real Estate Market in Navi Mumbai.
Relocating to Navi Mumbai an excellent option, particularly when such market is booming with homebuyers. It appears that a big commercial and industrial centre is on the horizon. Navi Mumbai is home to several industries and IT firms, including Reliance and Accenture. Several firms are intending to build headquarters in Singapore, including Ascendas Singbridge, K Raheja Corp, among others. Individuals who have house in 2022 in Navi Mumbai will have a better career opportunity.
Therefore, whether you’re looking for great universities, healthcare centers, banks, cafes, supermarkets, educational centres, retail grocery shops or theatres, you’ll discover practically everything in every neighbourhood. This makes relocating to Navi Mumbai an excellent option, particularly when the market is flooded with homebuyers.
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.