Property Values in Dronagiri Increase By 30%
Dronagiri in Navi Mumbai is proving to be a high potential investment destination. The locality is developed by CIDCO. It has seen an appreciation of 30% in the last year and is expected to see further appreciation in the following year. There are several reasons why this area is seeing a good price appreciation and proving to be one of the best investment destinations in Navi Mumbai.
Location and Amenities
Dronagiri is located in the southern tip of Navi Mumbai near Uran town. It has the Karanja River to its south east. Nhava Sheva also known as Jawaharlal Nehru Port Trust (JNPT) area and the township are located to its north and west. The area has some major highways passing near it. The JNPT Road which is an important arterial road in the region is just about 4 km from the area. The Maharashtra State Highway 54 (SH 54) passes through Dronagiri and connects it to other parts of Navi Mumbai and Maharashtra.
The Bokadvira Railway Station being constructed near sectors 47 and 48 of Dronagiri will join the Panvel-JNPT line. The proposed Mumbai Trans-Harbour Link (MTHL) between Sewri and Nhava Sheva will reduce the commuting time between Dronagiri and rest of Mumbai.
Real Estate
There are already several developers such as Akshar Builders & Developers, Dwisha Developers and Devkrupa Enterprises coming up in the locality. The locality is gaining popularity among middle-income home buyers who cannot afford properties even in areas such as Ulwe or New Panvel. The area still needs to get the necessary social infrastructure.
Most of the properties in demand in Dronagiri are 1 and 2 BHK apartments. The size of a 1 BHK apartment ranges between 650-740 sq.ft. The size of a 2 BHK apartment is between 1,050-1,300 sq.ft.
Price trends
The cost of a 1 BHK apartment in Dronagiri is between Rs. 22.75-30 lakhs, while the cost of a 2 BHK apartment is between Rs. 36.75-52 lakhs. The capital value in Dronagiri is between Rs. 3,500-4,000 per sq.ft which is lower compared to the same in Ulwe and New Panvel. Capital value in Ulwe is betwee Rs. 4,500-5,000 per sq.ft while in New Panvel, it is between Rs. 4,000-4,500 per sq.ft.
The proposed infrastructure projects in Dronagiri are expected to further increase property prices by 25-30% in the next year. If one is planning to buy a property in Dronagiri at this point of time from the point of investment, it is advised to stay invested for at least next 3-5 years to get excellent returns.
