ULWE PROPERTY BUBBLE TO BURST - MISFORTUNE ON THE WAY

Q: Finally the most awaited time has come. The most hyped navi mumbai property market (specially ULWE) soon to progress on the path of misfortune. The hyped bubble in real estate market is about to burst anytime now. History will be repeated again with massive correction in prices (upto 40%) is expected. Set back to property market after 1997-2003 is about to arrive.
A cautious advise to genuine buyers that do not buy property in ULWE in present scenario as you'll face a big loss due to price correction which will happen in next 6months - 12months & before 2014 elections. Please follow the link for more information:

Gary, Navi Mumbai

3rd September 2013

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Replies (15)

Persons Who Misguiding Other People About ULWE Locality, You Should Visit ULWE Nowadays. It is very Clean and All The Infrastructure Developed Good.. Local Train also Stared & Property Price Hikes 50 Percents In Last One Year..

www.sqmtrs.com

Ravi Patel,

10th January 2020

Comment

I have one question regarding ulwe...If i invest in ulwe for 1BHK flat will I get tenant for it..As i heard that people don't get tenant to rent their flat easily due to lack of transportation facility...Then it shouldn't be a dead investment...

Khushboo Kosia,

20th July 2016

Comment

Hi,
It is seen that while overall real estate prices in the MMR have remained weaken, areas such as Madh-Marve, Majiwada-Kasarvadavali and Ulwe are likely to get costlier if certain proposed transport infrastructure projects take shape as per the stated timelines.

Gangasagar Patil, Mumbai

12th July 2016

Comment

I am agree with you sir. Prices in the sea-front Madh-Marve to increase by about 14.2% every year on the back of improved connectivity due to a proposed Versova-Madh sea bridge, and the Nariman Point-Kandivli coastal freeway. The geographic advantages of the two places may further blow up the property rates.

Hitesh Thawani, Mumbai

12th July 2016

Similarly, properties in Majiwada-Kasarvadavali may get more expensive by about 11.2% due to the state government’s plan of constructing a Metro rail corridor from Wadala to Kasarvadavali over the next 5 yrs.

Gangasagar Patil, Mumbai

12th July 2016

Even Ulwe to continue to see an uptick in price at 9.7% rate per year. Prices here have already inflated over the past few years in expectations of the proposed Navi Mumbai International Airport and the much-delayed Sewri-Nhava Mumbai Trans Harbour Link. But these locations will see a bounce in prices only if these infrastructure projects being talked about are implemented in the time period that the government has set.

Hitesh Thawani, Mumbai

12th July 2016

Dear Gary,

What u r saying about ulwe now, many said same about ghodbunder road 10-12 yrs back. and you know the results now. Same was the case with Seawoods. Property rates are never going to go down.
I bought an apartment in Ulwe and 1 in Ghodbunder road both in 2013, and both places have experienced growth buy 25% buy now.

Aryfort, Mumbai

11th August 2015

Comment

Very true Aryfort........Time and tide waits for none......Mumbai property markets is very similar.

Ulwe is one of the fastest growing nodes of Navi Mumbai. The suburb in Raigad district, is located south of Kharghar and close to Panvel, where the Navi Mumbai International Airport is planned. This node has been planned and developed by CIDCO and is fast becoming a preferred destination for many.

Deepankar Godbole, Mumbai

20th August 2015

Ulwe is well connected to most of the localities in Navi Mumbai by road. The Uran Road and JNPT Road pass through Ulwe connecting it to localities such as Greater Khanda, Kharghar, CBD Belapur and Panvel. The Vashi Railway Station is the nearest railway station. The nearest airport is Mumbai's Chhatrapati Shivaji International Airport. The chief modes of transport in the locality are buses and auto-rickshaws but there are very few of them. The Navi Mumbai Municipal Transport (NMMT) runs bus services from Vashi, Nerul, Kharghar, Uran and Belapur to Ulwe. A railway station being built nearby called the Bamandongri railway station.

Sneha Ambedkar, Pune

20th August 2015

Hi Arifort,
I eventually bought a flat in a complex in kharghar Sec-35 and i m very happy to have chosen Kharghar over Ulwe, as the price if my flat is around 8700/sq-ft. now and i get a decent rent of Rs. 8500/month for my 1BHK.

Lewin G,

16th October 2015

Hi Aryfort,

I am personally not a great fan of inflated rates so the point is for you to go out in the market and find a real buyer who could pay 25% appreciated price for your property.

Gary, Navi Mumbai

12th July 2016

Don't Buy As Intraday Stock Traders. Buy It For Long Term Investment Minimum 6 Years . It Will Definitely Give You Handsome Return ...My Guess You Will Get At least 80% Return ( By Rent And Sell Of Your Property) . If You Are In Hurry Then Stock Market Is Waiting For You . Buy Any Sensex Listed Share For 1 Year It Will Gives You Minimum 25 % Return By 2018....All Is Well....

sajid, Pune

30th October 2017

Hi Folks,
According to me Ulwe should be your first choice, as it is very close to upcoming Navi Mumbai International Airport. And the price are quite affordable now. It is one of the fast developing nodes in the city and offers 1BHK units ranging from Rs 24-30 lakh.

Secondly, Panvel, as this locality is close to Navi Mumbai International Airport too. Those who have an investment budget of Rs 20 lakh and yet want to stay close to Mumbai, then Panvel has many options for investment. you can find a 1BHK in size ranging from 350-750 sq-ft, within Rs 20-35 lakh

Mansoor Bithal, Mumbai

24th June 2015

Comment

Yeah Mansoor,
Ulwe of Navi Mumbai is the India's best destination for residential flat investment for long term around 5 years. So invest there with a reputed builder and in good location. Annual return would be around 30-35% subject to growth and risk factors.

Abhinandsavalla, Mumbai

24th June 2015

Hey Arun,
This is the link where there is good project discussion is going on in Dream Sai Elegance, Ulwe, Navi Mumbai. You can also leave your feedback there. click the link Dream Sai Elegance, Ulwe, Navi Mumbai

Sandeep Mhatre, Mumbai

16th May 2015

Comment

I've invested in Dream Sai Elegance, a project by Dream Developers, plot 267, sector 17, Ulwe, Navi Mumbai. I hope its a trustworthy and genuine developer by God grace. Please share your inputs.

arun chauhan,

30th November 2014

Comment

Hey Arun,
I have not invested in this project but i inquired a lot about this project and got a good feedback. Your money is in safe hand and don't need to worry and the area which you have selected, will give you more than your expectation.

Dream developers are one of the leading real estate developers in Mumbai and they have successfully completed four project and 5 projects are currently ongoing. Sai Elegance is one of them. If you want project updates and other related information please, feel free to write.

Praveen Modi, Mumbai

15th May 2015

@Arun,
You will get possession of your property in November' 2015 as all the approvals are in place and before possession you will get the occupancy certificate.

Praveen Modi, Mumbai

15th May 2015

HI Arun. Can you please email me your number , as i would also like to invest and would like some details. E- rohit.s.gupta@gmail.com

Rohit Gupta,

6th October 2015

Whole Ulwe is surrounded by a Big Cannal(Naala, Gutter) this can be stinky after we have people staying in.,.but right not it is flowing and has no problems. There are many unsold units so best it to negotiate with the builders to get best rates. Jains(who expect a Temple :P:P)might find a problem in Sector 19 A as there is Muslim Cremation ground. But rates are 3900 there.. One builder offer 1 BHK for 26 Lakhs area 620. Some one travelling by road to vashi would have to take Palm beach road to reach Vashi in 20-25 nmins by car thats a plus point. Lets see how much doest it develop.
Technical Problem : Light , water connection after OC. Check the land before buying some farmer are builders now :).
Buss Serveice : NO. No street Lights, No Possesion. I saw only marvadis staying ion new buildings/or 1-2 families.Bhamandongri ralway station might be functional in 4 years,

Nitin Bhatia,

16th January 2014

Comment

Hey Nitin,
I would like to say that earlier people has to face to those issue but now CIDCO has planned the city. You will get all the basic necessities nearby the locality such as schools, malls, banks, ATMs, hospitals. It has became one of the fastest growing junctions of Navi Mumbai. This node has been planned and developed by CIDCO and becoming a preferred destination for many home buyers.

Praveen Modi, Mumbai

15th May 2015

You can say that the Ulwe does not have sufficient social infrastructure compare to other locality of Navi Mumbai but CIDCO has given provision for Hospitals, educational institutions, shopping centres and malls to come up in the locality. Kharghar, Seawoods and CBD Belapur are the closest business area to Ulwe. These localities have positively impacted Ulwe.

Praveen Modi, Mumbai

15th May 2015

Hi Harish, Once the Building is developed Builder might get the OC and take Permanent meters would be put up i have seen many buildings have light meters.Roads :
Roads might take at least 2 year once people start staying, only CIDCO building have some people staying in.I didnot see any road work started or under construction. But there are talks in this direction.
Railways :
No Railway line yet, Work is quiet slow, best is to compare or ask some one how much time did areas like Kharghar etc get a railway line laid and then we can comment on it. But as i saw there was a foundation for a bridge and very minor WIP.,Drainage:Side pipeline,gutter etc place as it looked and I used a washroom in a building looked ok.No load sheding as they said. No bus comes in diorectly a shared tempo would leave u on the main road and then walk 10 mins till ulwe or take a rick if u get one. Occupany: NIL.But 50% sold.No possesion is given
A new bank present,2-3 General stores.

Nitin Bhatia,

16th January 2014

Comment

It is well connected to most of the localities in Navi Mumbai via road. The Uran Road and JNPT pass through Ulwe connecting it to localities such as Greater Khanda , Kharghar, CBD Belapur and Panvel. The Vashi Railway Station is the nearby railway station and Chatrapati Shivaji International Airport is the nearby Airport.

Praveen Modi, Mumbai

15th May 2015

I have been 2 ulwe last week the property rates now is between 3900(sector 19) to 5500(sector 17) and moderate 4300(sector 5). I think if someone invests in Ulwe he might have to wait atleast 7 years for 50% hike, and then also its like blocking the money.. Fixed deposit is much safer option if some one from the working class is willing to invest around 10 lakhs upfront.

Nitin Bhatia,

14th January 2014

Comment

@ Nitin Bhatiaji,please can you suggest builders who offers competative rates in sector 19 & 5.
I am interested as end user cum investor. I surprise how long it will remain Ghost Town ?
Are there any tecahnical problems ? Why there is no work in progress in street lights,drainage etc.?
Airport does not make diffirences railway is too late.but what about basic amenities such as bus service etc.
Why all these lack inspite of so many completed and about to complete buildings ? How many % of occupancy in new constructed buildings ?

Harish Thakkar,

15th January 2014

Hi Harish,
Have you ever visited Ulwe? Now, it has become one of the fastest growing nodes of Navi Mumbai. This node has been planned and developed by CIDCO and has become a preferred destination for many home buyers. It is well connected to most of the localities in Navi Mumbai by road. The Uran Road and JNPT Road pass through Ulwe connecting it to localities such as Greater Khanda, Kharghar, CBD Belapur and Panvel. The Vashi Railway Station is the nearest railway station. The nearest airport is Mumbai's Chhatrapati Shivaji International Airport.

Praveen Modi, Mumbai

15th May 2015

Yes, you can say that the chief modes of transport in the locality are buses and auto-rickshaws but there are very few . The Navi Mumbai Municipal Transport (NMMT) runs bus services from Vashi, Nerul, Kharghar, Uran and Belapur to Ulwe. A railway station being built nearby called the Bamandongri Railway Station.

Praveen Modi, Mumbai

15th May 2015

I also appreciate that Ulwe's development is still in the begining stage, there are not many civic amenities available in the locality. However, CIDCO is developing the locality and building amenities like water, electricity and sewerage in a planned manner, which may take some time.

Praveen Modi, Mumbai

15th May 2015

I agree with Gary...... I do not think this is the right time for the investor to invest in this area. Moreover the area does not have have anything. These are the only infrastructural development in this area and only god knows when these projects are going to start. I want to buy property for myself not for my grand child or children. :P

Sishir,

6th September 2013

Comment

I feel u and gary should go to badlapur and karjat, thats where ur budget suits you. Stay away from mumbai and navi mumbai please.

Aryfort, Mumbai

11th August 2015

Hi Sishir,
I visited Ulwe last month but the price is very high as 38-40 lakhs for a 1bhk of around 600 sq-ft. Has anyone found out any 1bhk for a budget of 35 lakhs? Also, how are Kalamboli/Roadpali compared to Ulwe in terms of development and rates? These areas are looking better than Ulwe. What is your suggestion?

Lalit Verma, Mumbai

15th October 2015

Ulwe is going to be a major real estate destination and a successful planned city in another 5 – 6 years. but my question is HOW????? The proposed infrastructural projects has not yet started and no idea when it is going to start. As I have heard that there is some problem with land acquisition for Airport in Panvel.

Sishir,

4th September 2013

Comment

You are absolutely correct Sishir. There is no way ULWE is going to be a major real estate destination in next 5yrs. Airport - It will take another 3yrs atleast for the work to commence on the airport (that too only if land is acquired) and further atleast 10yrs for the airport to build & operate. Which means that the airport will only be up and running after 15yrs from now. Tranis - The work has not commenced on theline between seawoods & ulwe. No signs of commencement work atleast for next 5yrs + another 2-3 yrs for the development. No bidders for sea-link yet. Once the contract is awarded (which will easily take 2-3yrs) it will take minimum 5yrs to built the sea-link. Overall there is no way ulwe can be a major real estate destination for next 10yrs. SO why the hell property prices in ulwe is at par with kharghar & nerul. And the worst thing is ulwe is NOT even in a position to generate a RENTAL INCOME for buyers who invest there. BEWARE OF ULWE FOR NOW

Gary, Navi Mumbai

4th September 2013

Hi Ashish

I some what disagree with you. This is not the right time to invest at all. The market is yet to see atleast 20% & upto 40% correction in property prices in next 6-12months. So imagine anyone buying property at the rate of 5000 sq.ft today and prices fall from 20-40% in next 6-12months. The buyer will be at loss.
Also there is no way the prices in a area like ulwe can be double in next 5yrs as the current prices itself are inflated and reached saturation point.
I strongly advise everybody to refrain from investing in ulwe for next 6-12months. Also the new RBI policy (80:20) which was announced today has hit the real estate market hard and prices are expected to fall further.

Gary, Navi Mumbai

4th September 2013

Comment

I agree with your statement but I do not think price correction will be so much in this area. May be there will be Rs 100 to Rs 200 price correction

Sishir,

4th September 2013

What I feel is that it is better to invest on land rather than apartments. At this point of time may be builders can give discounts and freebies for the unsold inventory or ready to move in apartments

Aveek Paul,

4th September 2013

As I said earlier that if you are looking for long term investment should go for Ulwe as you can expect good returns. Seawood-Uran suburban rail network will add an advantage to the area, which shall connect it to the prominent office hubs through a mass rapid transport system. Moreover other proposed infrastructural developments will be an added advantage for this area. Residential real estate in Ulwe will arrive as a promising asset class for the next five years.

Ashish Sharma, Mumbai

4th September 2013

Comment

Hi Gary, I feel this is the right time to invest in Ulwe if you are looking for long term investment purpose. The area is totally developing and property price are also touching the sky. It is said that if you are investing on a property now in Ulwe you can expect at least double of it after three to four years.

Ashish Sharma, Mumbai

4th September 2013

Comment

I am looking for a long term investment but confused where to invest. What is the reason the area is becoming one of the hottest residential hot spot?

Sishir,

4th September 2013