Plots below Rs. 10 Lakhs available in Mumbai Suburbs
Since property values are touching new highs in major localities of Mumbai, the suburb areas are coming up as promising investment options within affordable budgets. The plots in the area are of varying sizes, starting from 1,000 sq ft. The value quoted is Rs 450 per sq ft. Being a freehold plotted development, the buyer also gets developed infrastructure including, a service lane around the plot, water facility and security assistance.
Some developers are also offering plots for Rs 8 lakhs (150-sq m plot). One such location is Karjat, in the Raigad district of Navi Mumbai, where plots are available within Rs 10 lakhs.
Majority of the plots are available at Tembhre, the Karjat-Murbad Highway, Shelu which also offers a view of the river. These locations are part of the Delhi Mumbai Industrial Corridor (DMIC), where the commercial development is expected to happen in collaboration with the Japanese government. When the Mumbai Trans-Harbour Link Road will become operational, the area will be directly connected to south Mumbai. This infrastructural expansion is attracting not just the second home buyers but also the end-users as well.
Pramod Krangutkr, owner of Sankalp Real Estate says “Usually, we received queries from the service-class for end use, where most of them constructed homes for themselves and used them as weekend getaways. However, ever since the new airport plan has geared up, investors are buying in the area.”
SCOPE OF APPRECIATION
“The state and the central government have approved the development plan for the new city to be developed over a 600-sq kilometer area near the new airport. The area of this new planned city is twice as that of Navi Mumbai” says Danish Bhagat, director, New Sky Infra Realty, informs, Located in the suburbs, Karjat offers the home buyers an opportunity to own property for enduse or sell it for profit. However, the infrastructural development and the DMIC have pushed up the sales.
Source: Times of India
Central government, Danish Bhagat, Delhi-Mumbai industrial corridor, DMIC, Infrastructural development, Karjat, Karjat-Murbad Highway, Mumbai, Mumbai Trans-Harbour Link Road, Navi Mumbai, New Sky Infra Realty, Pramod Krangutkr, Sankalp Real Estate, Service lane, Shelu
