Navi Mumbai offers a comfortable lifestyle, planned development, and rapidly growing social infrastructure. This makes Navi Mumbai a great strategic alternative to the strained Mumbai city. With many emerging micro-markets and established commercial regions, Navi Mumbai has become a great prospect for real estate investment in 2024. Check out these top 10 places for real estate investment in Navi Mumbai and a detailed analysis on why these are the best locations for real estate investment in Navi Mumbai.
Why is Navi Mumbai an ideal place for real estate investment in 2024?
According to the latest city rankings released by the Ministry of Housing and Urban Affairs, Navi Mumbai ranks 3rd on the quality of life index in India. It has shown an impressive development in the economy, education, healthcare, and industrial domains.
Here is the Navi Mumbai city performance based on the Citizen Perception Survey by the Ministry of Housing and Urban Affairs.
This positive growth in the Navi Mumbai region has been the reason for the development of the finest commercial and residential real estate projects.
In this article, we will have a complete analysis of the top 10 places for real estate investment in Navi Mumbai in 2024.
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Panvel
In Panvel, The upcoming infrastructure projects will trigger high demand for residential as well as commercial properties. Between the years 2014-2024, the property prices in Panvel increased by 15-20%. This trend is expected to continue since the region is becoming a residential and commercial hub in Navi Mumbai.
Therefore, Panvel is an ideal place for impressive returns on real estate investments. Both high rental yields and property appreciation are expected for residential as well as commercial properties.
Also, because of the excellent growth avenues and top-notch facilities, Pavel is considered as one of the best places to buy a home in Navi Mumbai in 2024.
Let’s analyze the locality on the factors such as price trends, connectivity, social infrastructure, and industrial development.
Price Trends
Connectivity
- Panvel has sound connectivity through the highway network such as Sion-Panvel Highway, Mumbai-Pune Highway (26 Km), NH-48 (Delhi-Chennai), and NH-66 (Panvel-Kanyakumari).
- Also, The Mumbai Goa Highway connects Panvel to the expanding districts of Thane and Dombivali. This robust road network provides excellent connectivity and transportation in the region.
- Moreover, the Bus and Railway network has provided multiple options for the commute to the surrounding key cities such as Mumbai and Thane.
Upcoming Infrastructure
Navi Mumbai International Airport:
The airport is planned to be built within an area of 1160 hectares. It will have the capacity of catering to 90 million passengers annually. The first phase of the airport is expected to be completed by 2024.
The Navi Mumbai International Airport is expected to generate 3-4Lakh direct and indirect job opportunities in the region. Therefore, the Panvel region can witness an unprecedented property price appreciation in the next few years.
Mumbai Trans-Harbour Link Road:
The MTHL will connect Navi Mumbai to Mumbai city via a 21.8 KM 6-lane road bridge. The MTHL will have an intelligent transport system along with the other key features that will optimize the travelling time.
The MTHL will connect Chile from Navi Mumbai to Serwin in Mumbai. Also, the MTHL will be connected to the Mumbai-Pune Expressway and the Eastern Expressway. Since the starting point of MTHL will be close to Panvel it will improve its connectivity to Mumbai.
Virar-Alibaug Multimodal Corridor
Virar Alibaug Multimodal Corridor will be a 126km long corridor connecting Bhiwandi bypass, NH-8, NH-3, NH-4, and NH-4B, Mumbai-Pune Expressway and NH-17
Currently, MMRDA has completed the primary part of checking the Techno-economic feasibility of the project. This corridor will increase commercial growth in the Navi Mumbai belt including Panvel.
The 79km long Virar to Chiner has been tested for financial feasibility and got approval from the authorities. The project is in the process of land acquisition.
Coastal Road:
CIDCO has been planning to build a second coastal road to stretch the overall connectivity of the Navi Mumbai region. This second coastal road project will be a 270-crore project that will include three flyovers and two bridges.
The road will connect Panvel to Kharghar and strengthen the connectivity to the Navi Mumbai International Airport. This second coastal road will reduce the traffic congestion at the key points.
Elevated Corridor of CSTM-Panvel Railway Track
This will be a CST Panvel fast track corridor on the existing harbour line. This corridor will enable the track for the air-conditioned EMUs.
The proposed corridor is 47 Km with 11 stations. The RITES has checked the Technical and financial possibilities of the project. Also, the union cabinet has approved the funding for the project in the year 2019.
Industrial Development:
Panvel is well connected with the key employment hubs such as Vashi, Belapur, Nerul, and Powai. On the other hand, the core industrial belt of Raigad is easily accessible from Panvel.
Moreover, the upcoming Navi Mumbai International Airport will attract the MNCs and other industries to the region around Panvel.
The new airport will increase the job opportunities in the region. Therefore, triggering demand for residential and commercial space. This upward trend in the demand will hike the property rates in Panvel and surrounding areas.
Social Infrastructure:
Healthcare: MGM Hospital, Tarana Hospital, D Y Patil Hospital Nerul, Panacea Hospital, Ashtavinayak Hospital, Life-Line Hospital.
Education: Pillai HOCL College Of Engineering And Technology, Changu Kana Thakur Arts, Commerce And Science College And Law, Mahatma International School, New Horizon Public School. DAV public school, New Panvel.
Panvel Sub-Localities- Palaspe Phata, New Panvel & Karanjade
Palaspe Phata, New Panvel, and Karanjade are some of the emerging sub-localities in the Panvel. These locations are becoming the residential hubs for their infrastructure development and proximity to Panvel.
Let’s evaluate all these localities on the various factors such as development, connectivity, price trends, and the Return On Investment.
Palaspe Phata
Palaspe Phata is located at the junction of Mumbai Goa Highway, Mumbai Pune Highway, and JNPT Road.
This location has provided great connectivity to the other industrial and commercial areas. For example, the core chemical and metal industrial areas such as Kholpoli, Pali, and Rasayani are easily accessible. And on the other hand, the key IT and corporate regions in Navi Mumbai are nearby to this location.
Marathon NexZone and Sai World City are the top realty projects in the locality.
Both of these realty projects focus on the comfortable lifestyle and finest facilities for the residents.
Price Trends
New Panvel
The planned infrastructure of New Panvel has been the main reason for its residential boom.
New Panvel offers good livability along with affordability for residential properties.
Also, proximity to the Panvel Railway Station and Mumbai Pune highway gives it solid connectivity benefits. The industrial areas of Raigad and Navi Mumbai can be easily accessed from these two options.
The locality has witnessed a significant increase in property prices in the last few years post the announcement of the Navi Mumbai International Airport.
From the year 2016-to 2024, the property prices in the New Panvel increased by 20%
Price Trends:
Karanjade
Karanjade is situated on the Panvel-JNPT road. The locality has been becoming the next residential hub because of the two main reasons- proximity to Panvel and affordability.
The property prices in New Panvel had an upward trend in the last 5 years. The major reason is the Navi Mumbai International Airport.
The New Panvel Station is just 3.4 Km from Karanjade and takes 10-15 mins via car or auto.
On the other hand, the prices are much lower in the New Panvel Region as compared to the Old Panvel.
Moreover, the locality has been growing rapidly as more residential projects are developed in the vicinity. Annual property price appreciation of 4-5% and the upcoming International Airport makes Karanjade a good prospect for real estate investment in Navi Mumbai.
Price Trends
Kharghar
According to the data from Homebazaar.com, there has been an upward trend for residential as well as commercial properties over the last few years in Kharghar.
Between 2017-2024 Kharghar has witnessed a 15-18% rise in property prices for both residential and commercial properties.
Moreover, the trends are expected to continue owing to the growing infrastructure and easy connectivity to key industrial areas such as Vashi & Belapur.
Price Trends
Existing infrastructure
- Sion-Panvel Highway provides vital connectivity to the Kharghar region. A 25 Km long highway that connects Panvel to Sion is one of the important roads to access the Mumbai MMR. The Sion-Panvel highway has the following major connections: Mumbai Pune Expressway and National Highway 4 at Kalamboli junction. It is just 4km away from Kharghar.
- Also, the Bus and suburban railway network has been effective to give easy and hassle-free traveling to the residents.
- The Chatrapati international airport is 38 Km from Kharghar. Whereas the upcoming Navi Mumbai International Airport will be 10km.
Upcoming Infrastructure
- Navi Mumbai International Airport will be a major factor in the economic and social infrastructure development of the region. The proposed airport will be a key factor in high property appreciation in the Kharghar region.
- Navi Mumbai Metro will connect the main regions of Navi Mumbai such as Kharghar, Belapur, and Pendhar. The construction of the projects started in 2011 and will be completed by 2024. Navi Mumbai Metro will scale up the connection among all the emerging industrial areas of Navi Mumbai.
- The Mumbai Transharbour Link Road MTHL will enhance the accessibility to Mumbai from the Kharghar Region and therefore open will different development avenues.
Industrial Development:
Vashi, Taloja, and Belapur are the nearby industrial hubs from Kharghar. Moreover, Thane and Vikhroli Commercial Hubs are 12 and 15 kilometres away.
Also, the emerging industrial hubs such as Panvel and Raigad are easily accessible from Kharghar.
Social Infrastructure:
Healthcare: Apollo Hospital, Acratech Hospital, Kharghar Multidisciplinary Hospital.
Education: Radcliffe School Kharghar, Apeejay School Kharghar, DAV International School, Sanjeevani International School.
Ghansoli:
From the year 2016-to 2024, Ghansoli has shown a 20-25% increase in capital values.
This is because of the two key reasons- Ghansoli has been gradually becoming one of the key industrial hubs in Navi Mumbai.
And second, the infrastructure plans are scaling up the development in the region.
Also, Considering the upcoming Navi Mumbai International Airport will set a high property price appreciation in the upcoming years.
Price Trends:
Connectivity:
- The network of NMMT BEST buses provides connectivity to the other parts of Navi Mumbai including Panvel, Vashi, Kharghar, Nerul, and other Western Suburbs.
- Panvel-Vashi and Thane-Vashi local trains give easy access to Navi Mumbai as well as Thane from Ghansoli.
- Moreover, the Thane-Belapur road has played an important role in connecting Ghansoli to the industrial hub of Thane.
Upcoming Infrastructure:
- The proposed JVLR- KoparKhairane- Ghansoli Bridge starts at the Jogeshwari Vikhroli Link Road at Eastern Express Highway and ends at Kopar Khairane in Navi Mumbai. This project is going to save a significant amount of travelling time between the entire belt.
- Navi Mumbai International Airport will be 22 Km from Ghansoli.
Industrial Development:
Dhirubhai Ambani Knowledge Park and leading companies such as Reliance and Siemens have a presence in the nearby areas of Ghansoli.
Being centrally located, Ghansoli is well connected to the industrial regions such as Airoli, Vikhroli, Powai, Thane, and CBD Belapur.
The planned infrastructure in Ghansoli will encourage more real estate investment in Navi Mumbai.
Social Infrastructure:
Healthcare: Devine Hospitals, Frisson Multispeciality Hospital, New Life Maternity, and Children’s Hospital.
Education: ASP Public School Ghansoli, Angel’s English School, Tilak International School.
Airoli
Proximity to the prime employment hubs and established social infrastructure makes Airoli one of the best locations to invest in Navi Mumbai.
Because of the nearby employment hubs, there is a high demand for residential and rental properties in Airoli. Besides, it provides a great investment avenue for those who want to invest in Navi Mumbai real estate.
Between 2016-2024 the locality witnessed property price appreciation of 12-15%
Price Trends In Airoli
Connectivity
- Mulund Airoli Bridge strengthens the connectivity of the Airoli region by providing easy access to Mumbai Suburbs. This bridge has been crucial in the development of Airoli as an emerging real estate location.
- Another important connectivity is Thane -Belapur Road and Eastern Express Highway providing connectivity to other parts of Navi Mumbai, Thane. Mulund Goregaon Link Road and Jogeshwari-Vikhroli Link Road give better connectivity to the other Mumbai Suburbs.
- Also, the railway and road network gives easy access to the prime Mumbai MMR regions such as Panvel, Vashi, Thane, Mulund, Chembur, etc
Upcoming Infrastructure
- Airoli Katai freeway is a 1.68 km long tunnel that is a part of the Thane-Belapur elevated road. It will connect the major cities such as Mumbai, Navi Mumbai, Kalyan, and Dombivali. These twin tunnels will have a total of 6 lanes along with the exhaust and CCTV arrangements.
- Other upcoming infrastructure projects include Mumbai Trans Harbour Link, and JVLR Ghansoli-Bridge which will boost the real estate market in Airoli.
Industrial Hub
Airoli has emerged as an IT hub with the presence of leading IT companies such as Accenture, JP Morgan, Cap Gemini, etc.
The main IT parks in Airoli are Reliance Corporate Park, Mindspace, Dhirubhai Ambani Knowledge City, and Patni Knowledge park.
The industrial growth of the Airoli region has been coupled with the rise in residential housing in the region. Since the companies are looking to set up offices in the cost-effective Airoli region, there is a demand for commercial properties.
Social Infrastructure
Healthcare: Rajmata Jijau Hospital, Gandhi Hospital, Disha Hospital, Indravati Hospital, and Research Centre.
Education: St Xavier’s high school, Euro School Airoli, New Horizon Public School, Vibgyor High School, DAV Public School.
Taloja
The investment prospects in Taloja are positive because the property prices are considerably lower than the nearby regions like Kharghar. Moreover, the infrastructure development in the region is going to boost the property rates in the Taloja.
The investment in residential housing in Taloja has better ROI projections. As many industries have been settling into the affordable Taloja Region, there is more demand for residential and rental properties.
Even compact residential units can show a significant return on investment in Taloja.
Price Trends In Taloja
Connectivity
- The Sion-Panvel Highway provides robust connectivity to the Taloja region. It enables the connection to the major cities Mumbai and Thane. Moreover, it also connects Taloja to the micro-markets Panvel, Kalyan, and Dombivali. The project will be completed by 2024.
- The central railway lines and bus network gives easy access to the other key industrial areas.
Upcoming infrastructure
- The upcoming Navi Mumbai Metro (Belapur-Pendhar) will have the Taloja as a station. The phase 2 Metro will connect Taloja to the other emerging market Khandeswar. Metro project will redefine connectivity by providing multiple options to the local commuters.
Industrial Development
Taloja has the presence of chemicals, petrochemicals, and fertilizer companies.
Moreover, the residents can also benefit from the surrounding industrial hubs in Navi Mumbai & Thane regions.
The upcoming metro projects along with the Navi Mumbai International airport will attract new companies in the Taloja region boosting the real estate market.
Social Infrastructure
Healthcare: MGM Hospital, Ashtavinayak Hospital, Suasth Hospitals
Education: Redcliff School Taloja, The elite public school, Sunrise Global School.
Seawoods
Seawoods has been one of the finest residential places in Navi Mumbai. The CIDCO developed Seawoods NRI Complex that offered premium apartments with the best lifestyle prospects.
Along with the quality residential projects, the Seawood region has easy access to the surrounding industrial areas such as Vashi, Nerul, Panvel, etc.
Moreover, the new commercial project L&T Seawoods Grand Central and the L & T Residence Seawoods have been the main attraction.
So, let’s understand the Seawoods from the connectivity, infrastructure, and industrial point of view.
Price Trends
Connectivity
- Seawoods is very well connected to the surrounding key places in Navi Mumbai. Emerging places like Panvel, Kharghar, Vashi, Ghansoli, Nerul are easily accessible from the Seawoods.
- The Seawoods Darave Railway station on the Harbour Line provides good connectivity to the other Navi Mumbai regions as well as to Mumbai City. Thane, Andheri, and BKC are some of the major industrial areas that can be accessed from the Seawoods.
- NH348 is the national highway at the periphery of Seawoods. This highway plays a major role in Seawoods connectivity. Also, the Thane Belapur Road that connects Thane to Navi Mumbai gives better connectivity to Thane and other regions in Navi Mumbai such as Vashi, Ghansoli, and Airoli.
- Palm Beach is a 6 lane road that connects the Belapur-Vashi and passes through the Seawoods. This road has increased residential as well as commercial property demand in the entire belt.
Upcoming Infrastructure:
- The upcoming Navi Mumbai International Airport will be just 7.6 Km from the Seawoods.
- The under-construction Navi Mumbai Metro line connecting Belapur-Pendhar will be 4km from the Seawoods. This will be an easy and reliable source for commuters traveling to other places in Navi Mumbai.
Industrial Development:
The nearest commercial hub to the Seawoods is CBD Belapur. This region has become the most important commercial hub in Navi Mumbai.
Other emerging commercial locations such as Vashi, Nerul are also easily accessible from the rail and road networks.
With the advent of the L&T Seawoods Grand Central project, companies will be in favour of investing in the Seawoods.
Kopar Khairane
Koparkhairane is strategically connected to the key commercial areas such as Thane and Vashi along with the emerging industrial regions such as Ghansoli, Rabale, and Airoli.
The planned development by the CIDCO in the Kopar Khairane region has been the reason for the residential as well as commercial development of the region.
Millennium Business Park and Dhirubhai Ambani Knowledge Park are the two commercial landmarks that have redefined the Koparkhairane locality.
Price Trends:
Connectivity:
Following are the important infrastructure that provides solid connectivity to Koparkhairane:
- Vashi – KoparKhairane Road: Connects Koparkhairane to the most important commercial location in Navi Mumbai, Vashi.
- Ghansoli Flyover, Thane – This bridge connects Koparkhairane to the Ghansoli and most important MIDC industrial area.
- Thane-Belapur Road, and Palm Beach Road: Belapur gives connectivity to Turbhe, Mahape, Ghansoli, Rabale, Airoli, Dighe, Thane. Whereas the Palm beach road strengthens the connectivity network with the other localities in Navi Mumbai such as Vashi, Seawoods, etc.
- Koparkhairane is also a Railway station on the harbor line improving its connectivity to Navi Mumbai as well as other Mumbai suburbs. Moreover, the strong bus network.
Upcoming Infrastructure:
- The upcoming Navi Mumbai Metro Line can be accessed from Belapur CBD which is 12 km from Koparkhairane.
- Also, The Navi Mumbai International Airport will be 16km from Koparkhairane.
Industrial Development
Proximity to the major industrial areas in Navi Mumbai such as Ghansoli, Airoili, Rabale, and MIDC has provided employment opportunities to the residents.
Also, the harbor line facilitates the connection to the rising commercial regions such as Vashi, Nerul, Panvel, Ghansoli, Nerul, and Thane.
CBD Belapur which is a prime commercial location in Navi Mumbai is just 11 Km ( 29 mins) from Koparkhairane.
Social Infrastructure:
Healthcare:
Apollo Hospital, Dy Patil Hospital, Ashwini Hospital, Verdant Hospital, Sunshine Hospital.
Education:
Orchids The International School – Seawoods, Poddar International School, Don Bosco, S S High School, and junior college, Nerul Hospital.
Kamothe
Kamothe is becoming one of the best locations for residential investment in Navi Mumbai. This is because of the infrastructure development along with the proximity to the nearby industrial areas in the region.
Moreover, the upcoming international airport will increase the capital values significantly in next few years. The locality has already been witnessing an upward trend and is expected to grow at a more impressive rate.
The property prices increased by 14% in the Kamothe region between 2016-2024. With the upcoming infrastructure projects and CIDCO’s planned development, the number won’t disappoint in the near future.
Price Trends
Connectivity
- The nearest railway station to Kamothe is Panvel. Moreover, Khandeshwar and Mansarovar stations can also be accessed from Kamothe. Along with this, a robust network of NMMT buses has provided easy access to the other places in Navi Mumbai.
- Mumbai-Pune Expressway and Sion Panvel Highway have contributed to the connectivity of the region.
Industrial Development
The nearest industrial hub to Kamothe is Taloja which is just 8 km away. This proximity to the industrial region has provided employment opportunities to the residents. Therefore, the has been a demand for residential as well as rental properties in the Kamothe Locality.
Also, the major IT parks near Kamothe include International Infotech Park and BSEl Technology Park.
Also, being located in the crucial part of Navi Mumbai, it is easy to access the other emerging commercial localities such as Panvel, Vashi, Ghansoli, etc.
Social Infrastructure
Hospitals: MGM Hospital, Apollo Hospital, More Hospital, and ICU.
Education: Indo Scots Global School, CP Goenka International School, New English Shcool.
Road Pali
Road Pali is a fast-growing locality in Navi Mumbai located in the Kalomobli region. Road Pali region has witnessed solid infrastructure growth over the last few years. The proximity to the key market Kharghar has been the driving point for its rising growth.
Its developing infrastructure, good connectivity, and affordability have attracted investors for commercial and residential property investments.
Between the years 2016-2024, the price values of the priorities have increased by 13%.
And the uptrend is expected to continue in the upcoming years.
Price Trends
Connectivity
- The Sion-Panvel highway that connects Panvel-Navi Mumbai- Mumbai is just 3Km from Road Pali. Also, the Panvel-Uran road that connects the Panvel-Jawaharlal Nehru Port Trust Township-Dronagiri region.
- Kharghar and Mansarovar are the nearby stations from where other Navi Mumbai, Thane, and Mumbai regions can be accessed.
- The Yashwant Rao Chavan has facilitated the internal connectivity of the Road Pali with the other main parts of Navi Mumbai.
- The Navi Mumbai International Airport will be 9km from the Road Pali locality.
Industrial Development
The Raod Pali region has some established industrial companies. Some of the main companies in the Road Pali regions include ONGC, L&T, and Reliance.
The Road Pali will also benefit from the commercial growth of the surrounding region Panvel. As the government has decided to make Panvel a Special Economic Zone, the Road Pali region along with the other area will get a commercial boost.
Social Infrastructure
Education: Carmel Convent School, New English School, Rising Sun Primary School
Healthcare: Suasth Hospital, Dolphins Hospital, MGM Hospital.
Also Read: Best Places To Live In Navi Mumbai
