Localities Where You Can Earn Good Rental Yields in Navi Mumbai
Navi Mumbai, an important part of Mumbai Metropolitan Region is fast growing. Due to the improving civic infrastructure, connectivity to the mainland of Mumbai and the industrial growth in its backyard, it is attracting several people who look for rental accommodation in the region.
Hence, if you are a property owner in Navi Mumbai, here are a few places that will offer you a good rental yield. Rental yield is calculated by dividing the annual rental income by the property cost.
Airoli
Airoli is a fast developing node of Navi Mumbai. The area lies between Thane and Navi Mumbai, and in close proximity to main city of Mumbai. The locality has very good connectivity and accessibility to neighbouring localities such as Nerul and Vashi via the Thane-Belapur Road. The same highway connects the locality to other nodes in Thane and Navi Mumbai. Airoli is further connected to Mulund and remaining Mumbai suburbs via Airoli bridge. Airoli has a good public transport system due to buses ad trains. The harbour line of Mumbai’s suburban network provides accessibility to Airoli.
Airoli has a good civic and social infrastructure. It has all the basic social infrastructure such as educational institutions, banks, hospitals and entertainment facilities. Off recent, there are several commercial centres that have come up here. Companies including Siemens, Accenture, Patni, Wipro and Capgemini have setup their base here. An IT SEZ has been created on Thane-Belapur Road, in close proximity to Airoli railway station.
All these have significantly increased the potential of the area as a preferred rental location. According to CommonFloor data, the weighted average rent per month is about Rs 15,800 and the weighted average property price is about Rs 86 lakh. Hence, the average rental yield is about 2.2 per cent.
Kopar Khairane
Kopar Khairane is a well-developed area in Navi Mumbai that lies adjacent to Ghansoli and Vashi. It is less than 7km away from the Millennium Business Park near Vashi. The area lies on Thane-Belapur Road and is very well connected to other parts of Navi Mumbai and Thane. The Vashi bridge and Airoli bridge connect Ghansoli to different parts of Mumbai. It has regular bus services from Thane as well as other parts of Mumbai and Navi Mumbai. The Kopar Khairane railway station lies in sector-8A of the area. There are regular local trains between the area and Thane as well as Vashi/Panvel.
Ghansoli has a very good infrastructure due to its proximity to the IT Park and Vashi. There are several educational institutions, restaurants, hospitals and banks in the area. The area has the Dhirubhai Ambani Knowledge City (DAKC), the headquarters of Reliance Communications. The Millennium Business Park has several software companies including Patni Computer Systems Allied Digital and L&T Infotech.
Kopar Khairane has a good supply of rental properties, mainly due to the demand from people working in Vashi and the nearby business park. The weighted average monthly rental in the area is about Rs 16,500 and the weighted average property price is about Rs 82 lakh, which gives an average rental yield of about 2.4 per cent.
Sanpada
Sanpada is a popular realty destination in Navi Mumbai due to its proximity to Vashi and Palm Beach Road, which is an upscale locality in Navi Mumbai. It is also close to Nerul, another upscale locality in Navi Mumbai. The Palm Beach Road connects the area to the major localities in the region. The Vashi bridge connects Sanpada to Mumbai. There are regular BEST and NMMT buses providing mass transportation services in the area. The Juinagar railway station in Sanpada has regular trains from CST in Mumbai, Thane and Panvel.
Sanapada is an upscale market and preferred by people who prefer to live a peaceful life. As such, it has all the necessary amenities here. There are several schools and colleges in the area, as well as other basic social amenities. Vashi, one of the major business centres in Navi Mumbai is just about 4.5 km from the area. The area also has lush green surroundings. There is a clubhouse in the area as well as joggers’ park.
Though the area is more popular among end users, the area also has a good supply of rental properties. Not only that, but it also offers a good rental yield for house owners. The weighted average monthly rental in the area is about Rs 26,000. The weighted average capital value in the area is about Rs 96 lakh. Hence, one may expect an average rental yield of about 3.25 per cent.
While one may find several other areas such as Kharghar and Ghansoli that offer a good rental yield in Navi Mumbai, these are the localities you must definitely check out.
