MUMBAI: Property rates in the Eastern Mumbai District (EMD) which encompasses Karjat, Neral, Shelu and Khopoli are expected to double by 2017, according to Brick Eagle, a financial services platform for affordable housing development in India.
“Property investment here remains a good, safe, low-risk investment with average rates of Rs 3000 per square foot and an upward trend incomparable to other areas in the real estate market,” it said.
“Based on trends seen in Navi Mumbai and Panvel, it is estimated that property prices will continue 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; an incredible 900% appreciation in 16 years,” it added.
The report said that with 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, “the Eastern Mumbai District is well poised to become a self-sustaining metropolis.”
Karjat near Mumbai emerges as a popular residential hub
Karjat has emerged a major realty investment driver for investors in Mumbai, thanks to its sylvan surroundings, easy connectivity and reasonable rates. Nestled in the midst of the Western Ghats, Karjat is an extended suburb of Mumbai. Karjat is popular for tourism, adventure sports, Bollywood film shooting and spa. It is well connected to Mumbai and Pune and is a major rail terminus, connected via local trains to Chhatrapati Shivaji Terminus, Mumbai, Khopoli and Panvel. All this makes Karjat a preferred spot for weekend holidays, picnics, river rafting, trekking, hiking, and mountain climbing. This makes Karjat a top location for second homes near Mumbai.
Investing in Karjat is beneficial in multiple ways. Though rates are reasonable today, they are bound to skyrocket in near future. There are several projects coming up like 500 Kastur Kunj, an upcoming project of Sai Rajay, a joint venture of Rajiv Raman and Ajay Bhandari at Karjat. The project comprises residential villas. Karjat is the most happening place in Raigad, says Raman. “Good connectivity makes Karjat a happening place. It’s easily accessible from Mumbai and not far from Pune either. Karjat is undoubtedly a good investment option. People from Mumbai can easily commute to Karjat everyday.”
Karjat is an ideal residential hub as well as a second home destination. “It’s a tourist spot close to Matheran and surrounded by Bhimashankar Hills. Karjat is a preferred location for Bollywood shoots as well.”
According to Raman, people from Western Maharashtra are keener on investing in homes on Karjat side of Mumbai. Investing in Karjat is beneficial today, he says. “Rates are reasonable as compared to Panvel or Navi Mumbai. Karjat is within reach. If people invest today, they will have an added advantage as the rates will rise for sure tomorrow.”
Link – http://content.magicbricks.com/industry-news/mumbai-real-estate-news-industry-news/karjat-near-mumbai-emerges-as-a-popular-residential-hub/48328.html
Holiday Home Property Market of Karjat and Reviews of Major Developments
We have always maintained our view that with the skyrocketing property prices of holiday home destinations near Mumbai like Lonavala and Alibaug, Karjat, the picturesque town in Maharashtra’s Konkan coast in the foothills of Matheran, is soon going to be the holiday home buyer’s preferred location. Already one can see signs of growth of its nascent second home property markets with prices surging by each day. A well-known hill station in Maharashtra, the easy accessibility to Karjat from Mumbai and improvements in its infrastructure has already worked in its favor as a prime weekend getaway.
Moreover the river Ulhas originates in Karjat and flows westward, offering an opportunity to adventure sport enthusiasts to participate in many water sports activity. Also the ancient historical Kondana caves and exquisite Ulhas valley are two important tourist destinations near Karjat.
Karjat has recently seen a sea change in infrastructure development and tourist facilities. It has secured a place in the tourist map due to its cross proximity to the international airport, railheads and many large developments of special economic zones (SEZs) like Reliance and Navi Mumbai.
Link – http://www.holidayhometimes.com/buyers-guide/karjat-property-overview-emerging-holiday-home-destination2041.html
58-km ring road to link city and Navi Mumbai
MUMBAI: Will Mumbai get a ring road around it like some other cities in India and the world? A team of civic engineers and architects from Europe has recommended the construction of a 58-km long ring road stretching from Dadar to Navi Mumbai and then onto Nhava and Sewri.
The ring road, which will include the 22 km-long trans-harbour link between Nhava and Sewri and would cater to public transport, including bicyclists. and be similar to ring roads in other cites including Paris and Brussels.
A concept plan for this was discussed at a conference and workshop called ‘European Reflections on Infrastructure projects in Mumbai’. The workshop, inaugurated by state chief secretary Ratnakar Gaikwad, saw presentations by professionals from France, Luxembourg, Holland and Belgium. and attended by state government officials from Mumbai and the smaller towns in the region.
Chris Poulissen, head of a firm of architects and engineers in Brussels said, “The concept of a ring road is prevalent in many cities in the world. The one in Mumbai should lay stress on public transport. In addition to the 58-km ring road, there should be other smaller ring roads in the city to ease traffic jams. Paris has two ring roads-one 35 km-long and the other, 80 km. Brussels has a 75-km ring road,” he said. Seminar participants pointed out that some Indian cities, including Delhi and Nagpur have ring roads.
Mumbai: Several infrastructural projects gain steam after completion of monorail, Metro, Link Road and Eastern Freeway
While the various infrastructure and transportation projects in the city of Mumbai have come to an end some projects in the Mumbai Metropolitan Region have started shaping up or are in the nascent stages of execution.
The projects that have got ready in Mumbai include Mumbai Monorail(Phase 1), Mumbai Metro, Santacruz Chembur Link Road, Panjarpol Ghatkopar (Mankhurd) Link Road, Eastern Freeway, etc.
Projects on which construction of works have been considerably done are Mumbai Monorail (Phase 2), Kherwadi flyover, etc.
Similarly in the Mumbai Metropolitan Region several projects are in the pipeline, some of which include Extended Mumbai Urban Infrastructure Project (MUIP), Multi Modal Corridor connecting Virar and Alibaug, Kalyan Ring Road, Shirgaon-Padgha-Titwala-Badlapur Link, Neral-Dasturi Naka-Matheran Road, Khopoli Bypass Road, etc.
“It is just a coincidence that here in Mumbai projects are now getting over while on the other hand work has begun in MMR,” said a senior official of the Mumbai Metropolitan Region Development Authority (MMRDA).
Feasibility studies are underway to undertake road projects like Kalyan Ring Road, Shirgaon-Padgha-Titwala-Badlapur Link, Neral-Dasturi Naka-Matheran Road, Khopoli Bypass Road, etc. in the Eastern Mumbai District.
