Real Estate in Kharghar

Kharghar is an important area in Navi Mumbai. The area is developed by CIDCO with an estimated population of 500,000. It is one of the 14 planned nodes in Navi Mumbai and is considered the third most developed area in Navi Mumbai after Vashi and Nerul.

Kharghar is surrounded by the beautiful Kharghar hills and two major highways. It is also adjacent to the Central Business District (CBD) Belapur. It has the Taloja Creek and Taloja Industrial Estate to its east.

Connectivity and Access

Kharghar is located on the outskirts of Mumbai. The Kharghar railway station is on the harbour line of Mumbai suburban railway. One can reach Kharghar from Chatrapathi Shivaji Terminus in 65 minutes by the suburban railway or within 1.5 hours by road. Kharghar is just 10 minutes away from the six lane Mumbai-Pune Expressway and 15 minutes from National Highway 4. One can reach Mumbai in an hour and Pune within 2 hours via the Mumbai-Pune Expressway.

There are regular Navi Mumbai Municipal Transport (NMMT) buses from Kharghar to other nodes and sectors in Navi Mumbai. BEST buses are available from Kharghar to Chembur, Dadar, Sion and Ghatkopar. CIDCO has decided to construct a 1,780 m skywalk to facilitate hindrance free movement for pedestrians between the city node and Kharghar railway station. There is a metro station planned in Kharghar.

The proposed new Navi Mumbai International Airport is just 20 minutes away from Kharghar. The Mumbai international Airport can be reached within an hour via the Mumbai-Pune Expressway.

Amenities

The area started developing in 1995 and has currently many ready as well as under construction residential and commercial projects.

Kharghar currently houses the National Institute of Fashion Technology (NIFT). It also has the Tata Memorial Hospital (Cancer Research Institute). There are a number of schools and colleges in Kharghar. CIDCO has built a 18-hole golf course, a Central Park and some shopping malls. The Central Park has several amenities such as jogger’s tracks, sports grounds, sports clubs and amphitheatre. There are currently three multiplexes in Kharghar. ISCKON has started the construction of its temple. SIEMENS Ltd has a 10-storey building in Kharghar.

People love to go to Kharghar during monsoon. It has large open spaces and greenery. Picnic lovers can visit the waterfall at Pandavkada. There is a gargantuan fountain in the area. Kharghar is like a hill station during monsoon.

Real Estate

Kharghar has some expensive complexes such as Hiranandani Complex and Kendriya Vihar. Spaghetti complex is one of the biggest complexes here. The Indian Armed Forces have the Jalvayu Vihar and Raghunath Vihar here. There are a number of expensive projects coming up here such as the Kesar Harmony, Regency Gardens, Galaxy Orion and Cypress Aqua, which are making Kharghar a posh locality. There are several Hollywood style luxury villas planned on Kharghar hills.

The residential properties available here include residential houses, builder floor apartments and multistorey apartments. The built area of a 1 BHK property ranges from 400 – 800 sq ft. A 2 BHK property has a built area ranging from 800 – 1,375 sq ft. A 3/4 BHK property has a built area between 1,400 – 3,250 sq ft while a 5 BHK property may have a built area of 2,000 – 8,000 sq ft.

Property Trends

The rent for a 1 BHK property ranges from Rs. 5,000 – 18,000 per sq ft while the rent for a 2 BHK property is between Rs. 11,000 – 30,000 per sq ft. A 3/4 BHK property is available for a rent of Rs. 16,000 – 55,000 per sq ft while a 5 BHK property is available for a rent of Rs. 26,000 – 1,00,000 per sq ft.

Kharghar has witnessed a steady growth in real estate prices in the last 4 years. Multistorey apartments have witnessed the highest growth in Kharghar. The average price per sft went up from Rs. 3,900 – 7,050 per sq ft for multistorey apartments while it went up from Rs. 3,550 – 6,800 per sq ft for builder floor apartments. The residential plots saw a growth from Rs. 37,900 – 80,650 per sq Yrd and independent houses saw a growth of Rs. 5,100 – 10, 300 per sq ft.