NAVI MUMBAI AIRPORT TO BE CANCELLED !!

Q: Property bubble to soon blast in ULWE. The Navi Mumbai airport has become financially unviable option and plans are almost confirmed to cancel the airport and return the land which was acquired initially.
The news which was published in times of india saying that airport work to commence next year was only to ensure that prices do not fall any further. Most of the newspapers were asked not to publish the latest news but Mid-day went ahead and published the fact. Consumers please be cautious and do not buy any property in Ulwe as future is really dark. Please follow the mid-day link below for the update:

http://www.mid-day.com/news/2013/aug/150813-navi-mumbai-airport-cm-shoots-down-returning-developed-land-to-farmers.htm

Gary, Navi Mumbai

18th August 2013

Real estate News in Navi Mumbai

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Replies (19)

Properties near Navi Mumbai airport & Builders and Developers in Navi Mumbai
Here is the link to the brochure for upcoming projects
www.spaceindia.in

16th April 2018

Comment

Properties near Navi Mumbai airport & Builders and Developers in Navi Mumbai

Here is the link to the brochure for upcoming projects
spaceindia.in

16th April 2018

Comment

Any recent updates of NMIA Construction works?
Please advise...

Wasim Dhopawkar, Apartment Resident, Mumbai

13th October 2015

Comment

Hi,
As per the current news, the pre-development work for NMIA, which includes clearing and levelling marshy land, would commence by October end. About Rs 1700 crore would be spent on this work, which will take a year for completion.

Ravindra Singh,

20th October 2015

Right Ravindra,
The 4-bidders who had submitted a Request for Qualification (RFQ) in January have been qualified for submission of Request for Proposal (RFP). The 4-companies are: GMR group, Mumbai International Airport Limited, Zurich Airport with Hiranandani Developers, and MIA Infrastructure of France along with Tata Realty.

Rajatrawal, Mumbai

21st October 2015

If our PM is giving priority to the work then nothing is possible.....hope we will get the rest of the clearance soon. They will get the final clearance to hand over the land to the forest department within next 3 weeks. After the handover, CIDCO can finally start digging the area to develop the airport. The chief secretary met the secretaries of both the departments, and now the process has reached its final stage.

Kaushik Bardia,

27th July 2015

Comment

No need to worry now......if all this progress can taken place within a week, we are expecting the remaining issues to be passed soon, as they are up for decision in a few days time. Chief Secretary, Sanjay Bhatia has been in touch with the central ministries.

pradyumanapte, Mumbai

27th July 2015

Comment

Hi Pradyuman,
But still we have to take permission from the State Forest Department which according to CIDCO is expected to be resolved within 3 weeks. The issue is regarding the handing over of 250 hectares of land by CIDCO to the state forest department.

And the process was moving at a snail's pace, as it required the revenue and environment department of the state to work together.

Pranab Malakar,

27th July 2015

Hi Guys,
There is a good news for those who have invested in property near Navi Mumbai. The long wait for approval to begin work on the Navi Mumbai international airport project seems to have ended, as CIDO claims that it has received a go ahead from the central government. As per the town planning body 7 out of 8 issues have been resolved.

Kaushik Bardia,

27th July 2015

Comment

Have you invested in that area Kaushik? It seems to me that the long waiting has come to an end.

As per CIDCO managing director, they have been able to get clearances for most of the issues in the international airport project after PM Narendra Modi's meeting with Maharashtra's chief secretary during a meeting about 10 days ago. So all credit goes to MR PM who is really doing great for our country.

Manisbapu, Mumbai

27th July 2015

Right manis,
There were so many issue with this project and in less than a week, CIDCO received approvals that had been awaited from the ministries, as well as from CRZ and others. Issues related to CRZ permissions, technical obstacles, land acquisition with the environment ministry, funnel zone, etc had been stuck at the center for quite some time.

Kaushik Bardia,

27th July 2015

@Kaushik,
But still we have tom wait for the Civil Aviation Ministry's approval before the ground work of the project can begin. It is for the height restriction enforced by the civil aviation ministry for the 230-hectare land parcel which according to the CIDCO MD, should also be approved soon.

Manisbapu, Mumbai

27th July 2015

Do you know Ketal till now CIDCO received approvals that had been awaited from the ministries, as well as from CRZ and others. Issues related to CRZ permissions, technical obstacles, land acquisition with the environment ministry, funnel zone, etc had been stuck at the centre for quite some time.

Dwarkesh,

5th June 2015

Comment

Right Dwarkesh,
The only approval awaited before the ground work of the project can start. It is for the height restriction execute by the civil aviation minister for the 230-hectare land parcel, which also should be approved soon.

Ketalpujara, Mumbai

5th June 2015

@Ketal,
What about the Pushpak Nagar land? I heard that there is an issue with the land and was restricted for construction by the civil aviation for any kind of construction.

Dwarkesh,

5th June 2015

Well Dwarkesh,
Pushpak Nagar land acquired by CIDCO from local villagers has height issue and was restriction for construction by the civil aviation for any kind of construction as it require permission from the ministry.

Ketalpujara, Mumbai

5th June 2015

Good Morning all,
As per CIDCO managing director, Sanjay Bhatia, after PM Narendra Modi's meeting with Maharashtra's chief secretary on 1st April 2015, they have been able to get clearances for most of the issues in the international airport project.

Dwarkesh,

5th June 2015

Comment

Right Dwarkesh,
The long wait for approval to begin work on the Navi Mumbai international airport (NMIA) project seems to have ended, as the City & Industrial Development Corporation (CIDCO) claims it has received a go ahead from the central government. The town planning body told that 7 out of 8 issues have been settled.

Dhiraj,

5th June 2015

Then it must be a big relief for the CIDCO as they were looking after the project for nearly a year, has been in a deadlock with the civil aviation and environment and forest ministry at the center.

During meeting with PM, Chief Secretory of Maharashtra informed the PM that the most crucial project of the state was the airport project and, so, it had to be fast-tracked.

Ketalpujara, Mumbai

5th June 2015

@Bikram,
As i thought it has never been able to do so because of its creaking infrastructure. Fadnavis can do little to open up the financial markets and make his city attractive for global finance, but improving Mumbais physical infrastructure is very much part of his directive.

Sankalp, Mumbai

19th February 2015

Comment

@Sankalp,
Of course, this is not the first time. Residents complain that the Mumbai Metropolitan Authority (MMRDA), the nodal agency for Mumbai Metro, has not kept them informed of any possible danger to their homes and not taken them in confidence about any rehabilitation plan.

The biggest challenge Maharashtra’s previous Congress-Nationalist Congress Party (NCP) government faced in executing infrastructure projects was land acquisition and the rehabilitation of project-affected persons (PAPs).

Bikram, Mumbai

19th February 2015

On 30 January 2015, Devendra Fadnavis unveiled Mumbai Next, an initiative to transform the country's financial capital into a global financial and entertainment center. His government held a high-profile conference under the projects banner on 6 February, which was attended by Tata Sons Ltd chairman Cyrus Mistry, Reliance Industries Ltd chairman Mukesh Ambani, Union minister of state for finance Jayant Sinha, actor Amitabh Bachchan and film producer Rajkumar Hirani, among others.

Bikram, Mumbai

19th February 2015

Comment

The Rs-14000 crore Navi Mumbai International Airport (NMIA) project has got a boost, with 4 national and international bidders now contesting to bag the job of being the developer and operator for the greenfield airport.

Sankalp, Mumbai

17th February 2015

Comment

Yes Shrikant,
Though the process took time, it is now almost over. 90% of the land required has been taken over and compensation in the form of 22.5% developed land is being handed over to the project affected people. We expect the pre-construction development work to start as early as possible.

Vinay Dixit, Mumbai

17th February 2015

Comment

HI,
The much-delayed Navi Mumbai International Airport is finally set to takeoff in 2015 as land acquisition -that proved to be a big challenge for the project-is expected to be completed by January 15, 2015. City & Industrial Development Corporation (CIDCO) will launch the pre-construction development work in less than a month from now and tenders for the project are expected to be floated in the first half of 2015.

Shrikant Kejriwal, Mumbai

17th February 2015

Comment

HI Gary,
I am planning to invest 2 BHK (under construction) in Ulwe @ Rs 5000 sq ft. Could you please let me know current market position in Ulwe.

Kazi

kamruddin kazi,

13th December 2013

Comment

Hi Gary,

Planning to invest a property in Dombivali East with a renowed Builder. What is scope of it in near future ??

Bhargavi G,

20th November 2013

Comment

Hi Bhargavi

I have limited knowledge as far as dombivali is concern hence I am unable to coment on this. Thanks

Gary, Navi Mumbai

20th November 2013

Hi Gary, Can you tell me which are the good areas in Mumbai for investment purpose and I can expect good returns in the coming future.

Mritunjoy Deb,

6th September 2013

Comment

Hi Gary, I'm an NRI who is interested in-terms of Investment and Residential point of view at Ulwe, even I don't find a logic paying

Ronnie DSouza,

24th August 2013

Comment

Hi Ronnie, If you are keen to invest then i'll advise you to explore Pune. You will get excellent quality of construction. Plus builders in pune are not thieves like one in navi mumbai who say that they are offering you 1000 sq.ft but you end up getting only 600 sq.ft.

Gary, Navi Mumbai

24th August 2013

I somewhere agree with the above statement that the demand for residential project is increasing in Ulwe as the area is offering affordable housing. Ulwe has seen 47% growth in demand for 1 and 2-BHK properties.

Vinay Dixit, Mumbai

19th August 2013

Comment

Mr Dixit....ulwe was meant to offer an affordable housing but looking at the current prices in ulwe do you really feel it is afordable ? There is demand in the market as well as suppy but the current market prices are not allowing demand & supply to sync together because of which sales are all time low and people are just sitting at the fence.

Gary, Navi Mumbai

19th August 2013

Hi Gary, Few days ago there was a news saying that Ulwe is an upcoming name in residential market of Navi Mumbai. The property prices in Ulwe have been increasing in a range of 23- 30% annually from last five years. According to real estate experts, Ulwe is going to be a major real estate destination and a successful planned city in another 5 – 6 years. Now you are telling that the future of Ulwe is really dark so I am a bit confused.

Jerome Fernandez, Mumbai

19th August 2013

Comment

Hi Jerome
Its an effort to make ulwe an upmarket destination. Today prices in ulwe is at par with kharghar and hardly any far waya from nerul. If you compare ulwe's prices againts the current infrastructure in the area so there isno sync at all. No public transportation (including bus & rail connectivity) at all. Rental income as per august 2013 in ulwe is almost NIL. I simply cant find any logic & maths in this calculation. You end up paying Rs.5000 per sq.ft in ulwe and what do get in return is nothing. Also the 2014 elections are on the way plus share market is completely screwed up.....all the black money from real estate will be sucked out in 2014 by the politicians and builders will become aggressive to sell.
I do agree that ulwe will be a good destination but atleast 5-8yrs from now. So why would you pay such a premium price now specially when you get no return on the premium which you pay.

Gary, Navi Mumbai

19th August 2013