to purchase a property in naigaon east is it good

Q: i m planning to purchase a property at naigaon east in ornate galaxy, want to know how well naigaon its going to develop to according to that i can assume my profit margin for future

Vivek Shinde,

18th May 2016

Buying property in Ornate Galaxy Naigaon, Naigaon East, Mumbai

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Replies (3)

Hi friends,
But i think that Naigaon is better as the rates in Ulwe are already 5000+ whereas in Naigaon its still between 4400-5000/sq-ft with a lot of potential. I have 2 flats there and already have seen 25% appreciation in 3 yrs. Expecting that it will shoot up to 6000/sq-ft in next 2 yrs.

The reason is because if you look to buy a decent flat in Mira Road in an average locality you have to pay 6000-6700/sq-ft already, which is 3km away from station. So, it will be wise decision if you go for Naigaon as an investment point of view.

Abhishke Karule, Mumbai

19th May 2016

Comment

Right Abhishek,
Naigaon is developing at a good pace. After formally coming into fold of VVMC few months ago, the development has picked good pace with well laid out wide new roads, street lights, different types of shops getting opened etc. Roads leading upto highway and upto Vasai East have also been redone and car ride is quite smooth now.

Manisbapu, Mumbai

19th May 2016

Hi folks,
About the infra, yes there is a highway proposed that will connect directly to Vasai. However, that is a 10 yrs process just like how Miraroad has developed.

Naigaon is the best place to invest currently if you are looking for a long term investment. Don't expect that property price in Naigaon will touch Mira road level in 3-5 yrs.

Rajatrawal, Mumbai

19th May 2016

Comment

I agree with Rajat. And would simply advice against new launch in Naigaon as you never know how long they may take to start the project. If you can get an under construction property for 3600-3800/sq-ft. by paying around 50% upfront then go for it Or, you can simply look for a ready-to-move flat for around 4100 to 4400/sq-ft and give it for rent which is 4000/pm for 1BHK.

pradyumanapte, Mumbai

19th May 2016

Hi Vivek,
I think Naigaon will take some years to come up or to be equivalent with Mira or Bhyander. At least 3-5 years, with respect with infra & connectivity issues.

For East - West connectivity, work has commenced on Eastern and Western sides. The Mumbai Metropolitan Region Development Authority can construct a bridge over a creek to connect the east and west of Naigaon, but only if it plants 4,000 mangrove trees, the Bombay high court said in January 2016.

Manisbapu, Mumbai

19th May 2016

Comment

Hi Manish,
Even the estimated cost of the sea link that would connect Bhayander with Naigaon passing over Vasai creek approved by the Mumbai Metropolitan Regional Development Authority (MMRDA) in 2007 and has increased to Rs 876 crore.

VVMC bus has started, currently only one runs on the road, with 1 more to join soon. Not to distant future, direct bus to Mulund, Vasai, Borivali etc would also be started.

pradyumanapte, Mumbai

19th May 2016