Ulwe to be the next Vashi of Navi Mumbai
Navi Mumbai: Ulwe is an upcoming name in residential market of Navi Mumbai. The property prices in Ulwe have been increasing in a range of 23- 30% annually from last five years. According to real estate experts, Ulwe is going to be a major real estate destination and a successful planned city in another 5 – 6 years.
Infrastructural projects leading to the growth of Real Estate in Ulwe:
- Harbour Line (Mumbai Suburban Railway): Ulwe has three railway stations at a distance of one kms each, so almost all the present homes in Ulwe are at a working distance from railway station and will see price appreciation like other parts of Mumbai.
- Reliance SEZ buildings: Reliance owns 4300 acres of land in Ulwe and Dronagiri, with the recent change in the state government’s policy the 40% of the land can be used for residential development. This is the price see facing land and Ambani is planning to develop this land as an international township with schools, hospitals and other various social amenities.
- Mumbai trans-harbour Link: It is a 22 Km long expressway bridge. This project will be completed in another 5 to 6 years and once completed will connect Ulwe to South Mumbai with a 30 minutes easy drive. This bridge will connect the already established business sectors of South Mumbai with Ulwe. According to real estate experts, this infrastructural development will not only increase the demand of residential unit in this area but will also have an impact on the commercial sector.
- Airport: The Navi Mumbai Airport will be functional by another 5-6 years and will have a significant impact on the prices of the real estate. Due to the upcoming airport, the Beach Road will be extended from Seewoods to Ulwe and the five star hotels, commercial buildings, malls and other retails outlets will be coming along it.
- Mumbai metro: Ulwe is prominently mentioned in the metro plan for Navi Mumbai.
Infrastructure development and affordability are the two present reasons for the real estate growth of Ulwe. With the increase in property price for Vashi, Nerul , Belapur etc, now the next destination for the real estate investors is Ulwe. Ulwe has the maximum demand for a 1 bhk apartment. A Buyer can very easy but a 1 bhk for Rs 20-25 lakh in Ulwe as compared to Rs 45-50 lakh in Vashi. The present property price in Ulwe is Rs. 4,500 per sq. ft. and almost 22 projects will be ready for possession by the end of this year. However, some property experts suggest that Ulwe has been over marketed and can see the price correction soon.
Related Real Estate Articles
Beach Road, Belapur, Dronagiri, expressway bridge, harbour Line (Mumbai Suburban Railway), Mumbai trans-harbour link, Navi Mumbai, Navi Mumbai metro, Nerul, prices of the real estate, Real Estate in Ulwe, Reliance SEZ buildings, Seewoods, South Mumbai, Ulwe, Vashi
