Shilphata May be The Next Biggest Residential Belt in Navi Mumbai
When it comes to housing in Mumbai, some of the current hotspots are Mira Road and Ghodbunder Road. There are several reasons such as affordability, good connectivity and growing infrastructure leading to real estate growth in these areas. Similar to these areas in Mumbai, Shilphata has the potential to become the next residential hotspot belt in Navi Mumbai.
Shilphata area profile
Shilphata is a strategic area lying between Thane and Navi Mumbai. It lies on the intersection of NH-4 and SH-76, with neighbouring areas such as Mumbra in Thane, Airoli, Ghansoli, Kopar Khairane and the MIDC area near Vashi. The area also connects the upcoming areas of Dombivli and Kalyan to the industrial areas of Kharghar and Vashi via the Kalyan-Shilphata Road. Some of the other important roads in the area are Kalyan-Shilphata Road and Shilphata Mahape Road. Due to these roads, Shilphata acts as a gateway to Navi Mumbai for people coming from Thane and Kalyan-Dombivli areas. There are regular buses plying this area from Thane and Navi Mumbai.
The area is yet to be developed in terms of social infrastructure, civic amenities and housing. There are plans to improve the rail connectivity to the area. The planned monorail line between Mahape and Kalyan will pass through the area. Currently, there is also a shortage of drinking water and electricity in Shilphata. If developed properly, these problems too may be resolved.
Real estate trends
The biggest deterrent for Shilphata’s real estate development is the current lack of civic amenities and social infrastructure. Yet, this has not deterred developers from coming into this area. There are already several projects available by developers such as Gajra Group, Marathon, Lodha Group and Runwal Group. The most common apartment configurations in the area are 1 and 2BHK apartments. Most of these apartments are sought after by employees in the nearby industrial zones. The typical built area of a 1BHK apartment is about 630-835 sq. ft. and that of a 2BHK apartment is about 800-1,100 sq. ft.
While one may buy a 1BHK apartment for about Rs 30-50 lakh, a 2BHK apartment may be bought for about Rs 35-55 lakh. The approximate property values in the area are in the range of Rs 4,300-5,700 per sq. ft. If the infrastructure is developed properly, the locality’s real estate will gain a big boost.
Shilphata has a huge potential in terms of real estate growth, primarily due to its strategic location and good road connectivity. With proper development, it may become the next Ghodbunder Road and Mira Road.
