As per several studies, about 80% of the residential projects built in Navi Mumbai from 2013 to H1 2018 come under the affordable housing (up to Rs. 40 lakh) and mid-range (Rs. 40-80 lakh) categories. Experts have stated that the real estate market in Navi is witnessing skyrocketing growth in recent times with the proposed development of the new airport and an SEZ in addition to other noteworthy developments. The Ease of Living index ranked Navi Mumbai at number two out of 111 urban zones in the country which is better than Greater Mumbai and Thane. Navi Mumbai is steadily witnessing the affordable housing boom and this has benefited real estate developers and buyers alike. Homebuyers have been enthused with the efforts made by CIDCO to improve overall infrastructure and maintain natural greenery throughout the region while they can also snap up properties at comparatively lower prices. Approximately 45% of the entire region has been earmarked for natural greenery. The authorities are also emphasizing on the development of social infrastructure throughout Navi Mumbai and this has brought about better quality of living and work-life balance for residents. As a result, several real estate developers are finding takers for big-ticket residential developments in this region. Some of these include Arihant Clan Aalishan, Piramal Revanta and Ahuja O2 to name just a few.
Affordable projects increase by 80% in Navi Mumbai
