Kalamboli: Long-term Investment Destination in Navi Mumbai
Kalamboli is an upcoming area in Navi Mumbai and is part of the Mumbai Metropolitan Region. The area is already witnessing a good real estate activity as it has certain factors currently driving its realty. With a good growth potential, this may be a good locality to invest if you are looking for a long-term investment.
Location and accessibility
Strategically located, Kalamboli has three realty hotspots as its neighbours – Kharghar, Kamothe and New Panvel. While Kharghar is a fully developed area and an important business hub in the region, Kamothe too is witnessing a good real estate activity. New Panvel is the area where the proposed Navi Mumbai International Airport is set to come up. The proposed airport area is just about 6 km away. Kalamboli itself is a transportation hub.
The area has a very good connectivity to important regions of Navi Mumbai and Mumbai as it lies on the junction of Sion-Panvel Expressway, Panvel By-Pass, NH-4 and NH-17. All these roads give the area excellent connectivity to other cities as well. The Roadpali road is another arterial road in the area. The Kalamboli railway station lies on the central line of the suburban railway network. It also has four stations on the harbour line within a radius of 6 km. There are three metro stations in this area planned in phase II of the Navi Mumbai metro service. There are regular buses and local trains plying this area.
Infrastructure and Amenities
Along with good connectivity and accessibility, Kalamboli also has a very good infrastructure and some good social amenities. The area houses the headquarters of Navi Mumbai Police. The steel market in Kalamboli is the largest of its kind in India. The area also has Navi Mumbai’s largest marble market. CIDCO owns a sewage water treatment plant here and the area doesn’t face much drinking water problem as it has several lakes, creeks and small rivers in its proximity.
Besides eateries such as McDonalds, there are several other small and big commercial centres in the area as well. There are several educational institutions, banks, restaurants and healthcare institutions in Kalamboli.
Real estate activity and trends
A good connectivity to several cities and a good civic as well as social infrastructure here have led to a vibrant residential activity here. Despite a good residential activity, what is driving the real estate market are the lower property values in the area. A 2BHK apartment in Kalamboli may be bought Rs 15-20 lakh cheaper than that of Kharghar or Airoli. Some of the active developers in the area include Neelsidhi Group, Neelkanth Infracon and Juhi Developers.
The area has a good number of 1 and 2BHK & 3BHK apartments. The approximate built up area of a 1BHK apartment is in the range of 550-700 sq. ft. The approximate built area of a 2BHK apartment is about 800-1,250 sq. ft., while that of a 3BHK apartment is about 1,200-1,450 sq. ft.
One may buy a 1BHK apartment for a price of Rs 25-40 lakh, while a 2BHK apartment may be bought for about Rs 45-75 lakh. The approximate property value of a 3BHK apartment is about Rs 70-90 lakh. With the existing features, the area has already witnessed a good appreciation in the property values over the past three years, from an average of Rs 4,700 per sq. ft. to about Rs 5,500 per sq. ft. This marks an appreciation of about 17 per cent.
With the metro rail and few other infrastructure projects in the pipeline, the area will be witnessing more real estate activity and a higher property appreciation in the future. As such, the area is a good investment hub if you plan to invest in the long term.
