Property rates jump to 30% in Nerul

Q: Hello,

Did you come to know that property rates clocked to more than 30% returns in last 2 years.

Sanjana Jain, Mumbai

17th February 2014

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Replies (4)

In Navi Mumbai the property market is HOT. According to recent fair of real estate market the the project in nerul, kharghar etc increases the prices approximately 10% to 30 %

Maya Roa, Apartment Resident, Chandigarh

3rd March 2014

Comment

Hi,
Yeah in fact the property market is really picking up in Navi Mumbai due to many proposed upcoming residential and infrastructure developments taking place. Good to know that property rates have shown an incremental jump in present times. The jump of 30% what we have seen in last 2 years is outstanding and one can assume how much demand is there for the properties in this part of the city.

Sandeep Mhatre, Mumbai

10th March 2014

Hmmm.
I agree with this point. The locality boasts of all amenities required by an end-user such as hospitals, schools, restaurants and entertainment zones. Hence, the locality continues to rule the roost for rental accommodation as well. This is also indicated by a five per cent increase in the rental values in the last quarter.

Sankalp, Mumbai

17th February 2014

Comment

Hey Bikram,
With the constant support and development Nerul is getting from Navi Mumbai Muncipal Corporation, CIDCO, Nerul boasts of swift connectivity to other parts of the city. The area is constantly served by a well-built network of public transport, which includes Navi Mumbai Municipal Transport (NMMT), Brihanmumbai Electric Supply and Transport (BEST) and State Transport (ST) buses.

Padma G, Mumbai

17th February 2014

Comment

Yes Padma Madam,
Beside transport and connectivity, Nerul has become a potential option for home buyers as well as investors. For eg, if you had purchased an apartment for Rs 80 lakh in 2011, the same will now cost about 1.2 crore, an appreciation of 20 lakhs in 2 years.

Lalit Verma, Mumbai

17th February 2014

Hi Sanjana,
Even I was surprised to know that property rates made a jump of about 30% in last 2 years in Nerul. This is possible only due to factors like capital appreciation, connectivity and livability. Came to know that Nerul has become a hot property destination both for buyers as well as builders.

Rakshit, Mumbai

17th February 2014

Comment

Hi Rakshit,
With many factors like well built social infrastructure, connectivity and a wide variety of options, the area has shown appreciating trends in the last few years. Property pundits have attributed this rise to the under-construction Navi Mumbai metro and the clearance for the proposed Navi Mumbai Airport, which is likely to further impact the property values of Nerul.

Bikram, Mumbai

17th February 2014