Navi Mumbai property prices on the way up
Latest realty trends indicate that property prices in Navi Mumbai are heading north. According to analysts tracking the trend, prices of most residential apartments increased by Rs300-500 psf across preferred destinations like CBD Belapur, Kamothe, Kharghar, Panvel and Khandeshwar in the last one month.
Property prices at locations away from the proposed international airport like Airoli, Nerul and Koparkharane are also holding steady in the range of Rs3,000 psf for medium sized apartments.
While the price increase is essentially across the residential segment, the retail and commercial segment have been relatively less affected. However with the demand for the proposed Special Economic Zone and international airport expected to gain momentum, property prices across segments in the satellite city are likely to be impacted with high-end and premium constructions attracting the maximum price increase.