What makes buying properties in Navi Mumbai a good bet

Affordability is the need of hour for the real estate sector. Those in the low and mid income groups can only think about buying affordable homes. In most of the big cities in India the established localities are very pricey and have gone out of the reach of the common man. Real prices have long been a concern and even to this day are weighing heavily on the minds of those who want to buy a property.

With demand growing for properties across the metros but pricing not matching the needs of the common folk, there has been a spill over of sorts happening. Smaller cities which are located near the bigger ones are developing into real estate magnets which are able to absorb the demand coming in from their bigger counterparts.

They have homes which are quite affordable and people are flocking to them. If the smaller city is well connected to the bigger ones then the real estate sector will really take off there. The suburbs and peripheries have also benefited because of the demand being witnessed in the central parts of major cities. But now even these micro markets are heading towards saturation. The search for micro markets has lead buyers far and wide and sometimes well out of the city of their choice.

One of the cities which has witnessed this spill over effect is Navi Mumbai. Enough has been said and written about how expensive it is to live in Mumbai. It is easily one of the most costly cities to live in the world. If you compare the going prices for properties in the southern market they will be priced at least 30 percent lesser than the properties available in Mumbai. This shows that the city known to be the financial and commercial capital of the country lives up to its reputation as a brutally expensive city even when it comes down to its real estate sector.

This is where Navi Mumbai has come into the picture. There are thousands upon thousands of people coming in to Mumbai on a daily basis to make a living. Not all of them will be able to find a space to live here even if they go to the city’s peripheries. To make space for the ever increasing population Navi Mumbai was improved upon. It became a great example of how planned development can make a city really thrive. The city is also well connected to Mumbai by both rail and road which is an added bonus.

One of the micro markets which has done well among buyers is Panvel. Flats in Panvel are reasonably priced and the micro market is well connected to Mumbai as well. The Panvel Sion Highway is a great boon to this area. A 1 BHK in Panvel is a great investment. Many folks from Mumbai are flocking to buy flats in Panvel. If you are looking to buy a property in the Mumbai Metropolitan Region then a 1 BHK in Panvel will be a good option.