Taloje – A Good Option for Long Term Investment
Taloje is a small node on the periphery of Navi Mumbai. It is a residential node planned by CIDCO, and lies next to the Kharghar industrial area. The area has several factors that make it a good choice for the purposes of long term real estate investment.
Connectivity and accessibility
While Taloje is at a distance from Thane and suburban Mumbai, it is very close to the industrial areas of Kharghar and CBD Belapur. While it is a neighbouring node to Kharghar, one may reach CBD Belapur via the Roadpali Road and Sion-Panvel Expressway in less than half an hour. NH-4 passes right through Taloje, connecting it to other cities. Taloje has two railway stations: Taloje Panchnand and Navade Road railway stations. Both are on the Vasai Road-Diva-Panvel Railway route of the Mumbai suburban railway’s central line. There is also a proposal for a metro station in the area. There are regular train and bus services from the area to all the nearby nodes as well as the main city of Mumbai.
Infrastructure and amenities
Apart from being close to the industrial areas of Kharghar and CBD Belapur, Taloje itself has a MIDC industrial area with several small and big industries. Some of them include Deepak Fertilizers and Petrochemicals, BEL, Kellogg India and Hindalco Industries Ltd plant. Taloje still has a long way to go in terms of good roads, regular power and water supply. However, due to the proximity of the Taloje Creek and Kasardi River, there shouldn’t a problem for regular water supply and power once the node starts developing. Due to its proximity to Kharghar, the area has access to several amenities such as schools, hospitals and shopping malls such as D-Mart.
Real estate trends
Owing to the proximity to industries and industrial areas, there are apartments and housing societies available in the area. The growing infrastructure in the area and affordable housing prices are also slowly giving rise to several residential units. Some of the active builders and developers in the area include Muktistar Construction, Shree Home Realtors and MK Group.
The most common residential units here include 1 and 2BHK apartments with a small number of 1.5 and 3BHK apartments. There are a small number of builder floor apartments too available here. A 1BHK apartment has an approximate built up area of about 575-750 sq. ft. while a 2BHK apartment has an approximate built up area of about 850-1,200 sq. ft. The approximate built up area of a 3BHK unit is about 1,400-1,500 sq. ft.
One may buy a 1BHK unit in Taloje for a price of Rs 20-35 lakh, while a 2BHK unit may be bought for about Rs 35-55 lakh. A 3BHK unit may cost about Rs 50-70 lakh. Property rates have already seen an upward trend in the area over the last two years. The average property value per sq. ft. went up from about Rs 3,600 to about Rs 4,100 between the second quarter of 2012 and 2014 respectively. This is an appreciation of about 14 per cent.
While the average property prices have stagnated over the last two quarters due to an overall slump in MMR’s real estate and slow development, with an improved infrastructure and growth potential, the property prices in the area may be expected to go up in the future, making Taloje a good long term investment prospect.
