Where to Find Luxury Housing in Navi Mumbai

Most people who purchase property in Navi Mumbai do so due to the affordability factor of the region compared to Mumbai suburbs. While a 2BHK apartment in a western suburb may cost beyond Rs 80 lakh, the same apartment may cost about Rs 50-60 lakh in Navi Mumbai. However, with growth in demand for housing in Navi Mumbai, property prices in certain areas of Navi Mumbai too have gone up. Nonetheless, there are people who like to invest in the luxury segment in the region. Fortunately, there are also a few localities available that provide a luxury living for this segment. Here are some localities.

Sanpada

Sanpada offers good housing options to people especially in the high-end range. While the locality has a few good apartments within the affordable range, most of its housing units are beyond a budget of Rs 80 lakh. This is due to its proximity to Vashi and good connectivity to Mumbai via the Vashi bridge. There are regular NMMT and BEST buses providing accessibility between Sanpada and Mumbai as well as other nodes of Navi Mumbai. The locality has a good civic infrastructure as well as social amenities.

The major problem with housing in Sanpada is that there are few land parcels left for development and as such, there is limited scope for further residential real estate development. The most common configurations in the high-end range are 2 and 3BHK apartments. The approximate built-up area for a 2BHK is 900-1,085 sq. ft. while that of a 3BHK apartment is about 1,500-1,700 sq. ft. The approximate price of a 2BHK apartment is in the range of Rs 80 lakh-1.9 crore and that of a 3BHK apartment is in the range of Rs 1.4-2.1 crore.

Kharghar

Kharghar has become a popular locality as it is adjacent to Belapur central business district (CBD). It is currently considered the third most developed locality in Navi Mumbai after Vashi and Nerul. Kharghar has the Sion-Panvel Expressway running on one side and NH-4 running on the other. The locality is also surrounded by Kharghar hills with Taloja Creek and Taloja Industrial Estate located to its east. Kharghar railway station is on the harbour line of Mumbai suburban railway. Kharghar also has regular BEST and NMMT buses. It has a proposed Navi Mumbai metro station. The proposed international airport is about 20 minutes away from Kharghar.

Kharghar has good social amenities including famous institutions such as the National Institute of Fashion Technology (NIFT) and Tata Memorial Hospital (Cancer Research Institute). It has a 18-hole golf course built by CIDCO along with malls, a Central Park and the Pandavkada waterfall.

All these provide a feel of luxury and serenity to a home buyer. Luxury housing in the area is available beyond a budget of Rs 80 lakh. Most of the configurations available here are 2 and 3BHK apartments. The built up area of a 2BHK apartment is about 1,035-1,350 sq. ft. and that of a 3BHK apartment is about 1,260-1,650 sq. ft. The approximate price of a 2BHK apartment is about Rs 80 lakh-1.15 crore and that of a 3BHK apartment is Rs 1-1.6 crore.

Nerul

Nerul is another posh locality in Navi Mumbai. The locality is a favourite among the upper middle class earners. The locality lies on three highways in the Navi Mumbai region viz., Sion-Panvel Expressway, Palm Beach Road and Uran Road. Sion-Panvel Expressway connects the locality to Mumbai while Uran Road connects Nerul to the proposed Ulwe SEZ. The area has regular NMMT and BEST buses. Belapur CBD is just about 5 km from the locality. The locality has an excellent civic and social infrastructure. It has institutions such as Terna Engineering College and Premier Government Institute of Merchant Navy. There are several commercial centres, hospitals, restaurants and entertainment facilities in the proximity of the area.

The most common configurations available in the luxury segment are 2 and 3BHK apartments. The built up area of a 2BHK apartment is about 1,000-1,250 sq. ft. and costs about Rs 85 lakh-1.5 crore. The approximate built up area of a 3BHK apartment is about 1,060-2,300 and costs about Rs 1.3-2.5 crore.