Property rates in Eastern Mumbai District expected to double by 2017
According to Brick Eagle, a financial services platform for affordable housing development in India said, by 2017 the property rates are expected to double in the Eastern Mumbai District (EMD) which encompasses Karjat, Neral, Shelu and Khopoli.
It added, an upward trend incomparable to other areas in the real estate market the Property investment here remains a good, safe, low-risk investment with average rates of Rs 3000 per square foot.
It further added that based on trends seen in Navi Mumbai and Panvel, it has been estimated that property prices will continue to rise. These are expected to rise to Rs 6,000/sq ft by 2017, Rs 8,000 per sq. ft. by 2020, Rs 15,000 per square feet by 2025 and to an astounding Rs 30,000 per square feet by 2030. This translates into an incredible appreciation of 900%in 16 years.
As per the report , the Eastern Mumbai District is well poised to become a self-sustaining metropolis, through upcoming infrastructural improvements and developments like the construction of the 12 lane multimodal corridor, the ambitious Delhi Mumbai Industrial Corridor, the expansion of educational and IT infrastructure and the slated extension of rail connectivity.
Source: Times of India
http://www.commonfloor.com/panvel-navi%20mumbai/rvp-52c2901381530
12 Lane multimodal corridor, Brick Eagle, Delhi-Mumbai industrial corridor, Eastern Mumbai District, Educational and IT infrastructure, India, Karjat, Khopoli, Navi Mumbai, Neral, Panvel, rail connectivity, Real-estate market, Shelu
