Best Locations in Navi Mumbai to buy Commercial Property
One of the world's best master planned cities, Navi Mumbai happens to be the hotcake for real estate investors. The proposed international airport project in Navi Mumbai has also caused an escalation in the property rates in the area. Whether its office space or retail space (shops), commercial property prices in Navi Mumbai are on a roll. It also anticipates high appreciation in the short-term and high rental values in view of the rising mortgage rates in India. Despite all these factors and constant improvements in commercial property rates in Navi Mumbai, it still offers cheaper property rates when compared to that in Mumbai. If you plan to acquire a commercial property, you can surely consider Navi Mumbai. With the development work, going at a very rapid pace, the city has a future in terms of commercial as well as residential property segment.
"The kind and size of infrastructure projects that are under development in Navi Mumbai have potential to generate massive demand for commercial real estate in Navi Mumbai, let's see what happens in future," says a property agent dealing in Navi Mumbai properties.
Given the ongoing development and a well planned infrastructure, the city is sought after by corporate houses as well as small time buyers. Many Indian and multinational companies have established their base of operations here. Many leading conglomerates have taken up commercial space here. When it comes to cheap office space, economical commercial plots or affordable retail space (shops), Navi Mumbai has an edge over those in Mumbai, as the commercial property rates in Navi Mumbai are much less as compared to those in Mumbai. Investors, developers or buyers for small or big commercial properties, find it a very lucrative realty destination.
A massive demand for commercial properties can be expected in Navi Mumbai, looking at the infrastructure and developments going on in the area. Navi Mumbai is witnessing major developments with the proposed Special Economic Zone (SEZ) planned by Reliance and CIDCO. Good connectivity and infrastructure also make it a much sought after location. Airoli, Turbhe, Ghansoli, Belapur, Koper Khairane etc. are some of the popular economical localities that offer affordable commercial properties:
Office Space Locations :
Area // Average Price/Sqft (INR)//Average Rent/Sqft (INR)
Dahisar(East/West)// 6744 / NA //49 / 81
Borivali(East/West)//9114 / 14837//54 / 159
Vikhroli(East/West) //NA / 10194//75 / 89
Ghatkopar(East/West)//10788 / 12038//109 / 68
Malad(East/West)//10532 / 12507//98 / 75
Goregaon(East/West) //10922 / 9438 //62 / 70
Retail Space(Shops) Locations :
Area//Average Price/Sqft (INR)//Average Rent/Sqft (INR)
Bhandup(East/West)//4090 / 14291//NA / 91
Kalyan//9507//74
Borivali(East/West)//15643 / 17923//72 / 85
Kandivali(East/West)//10020 / 10049//186 / 59
Dahisar(East/West)//8861 / 11474//50 / 70
Source: Navi Mumbai Commercial Properties' Data on Zamanzar.com as on 11th September 2009. For latest rates, visit our Navi Mumbai Commercial Properties Page
Questions and Answers
Zamanzar is a real estate advisory firm headquartered in New Delhi, India. We offer online search tools to find property and offline services to help complete the transaction. Our services cater to real estate buyers, renters, and sellers. We have thousands of residential and commercial resale properties and New projects in Delhi NCR (Noida, Gurgaon, Greater Noida, Ghaziabad, Faridabad), Bangalore, Hyderabad, Chennai, Mumbai, Pune, Kolkata and other cities of India.
Navi Mumbai is the largest planned city in the world. Among its most expensive and developed areas are Vashi and Nerul and are considered the king and the queen of Navi Mumbai. In some ways, Navi Mumbai is much more progresses as compared to the glamour city, Mumbai. The literacy rate of Navi Mumbai is 96%., The average monthly family income in Navi Mumbai is around Rs. 10,000 per month whereas it is half (Rs. 5000/month) in Mumbai.
A further massive demand for commercial properties can be expected in Navi Mumbai, looking at the infrastructure and developments going on in the area. Navi Mumbai is witnessing major developments with the proposed Special Economic Zone (SEZ) planned by Reliance and CIDCO.
These are well developed and have a better infrastructure in comparison to the developing Navi Mumbai suburbs. Also, they offer a cheaper rental as well as capital values, when compared to the Mumbai's Golden triangle, Malabar Hill, Breach Candy and Altamount Road and other costly areas, where residential properties sell in the range from 40000-62000 Rs/Sqft .
Navi Mumbai property market offers not only affordable housing, rental apartments but luxury apartments also as per one’s requirement. It offers houses to mid income people as well as higher income group people. Many IT and ITES have set shifted their base to the city and are happily operating their business from the city
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Zamanzar is a real estate advisory firm headquartered in New Delhi, India. We offer online search tools to find property and offline services to help complete the transaction. Our services cater to real estate buyers, renters, and sellers. We have thousands of residential and commercial resale properties and New projects in Delhi NCR (Noida, Gurgaon, Greater Noida, Ghaziabad, Faridabad), Bangalore, Hyderabad, Chennai, Mumbai, Pune, Kolkata and other cities of India.
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Zamanzar is a real estate advisory firm headquartered in New Delhi, India. We offer online search tools to find property and offline services to help complete the transaction. Our services cater to real estate buyers, renters, and sellers. We have thousands of residential and commercial resale properties and New projects in Delhi NCR (Noida, Gurgaon, Greater Noida, Ghaziabad, Faridabad), Bangalore, Hyderabad, Chennai, Mumbai, Pune, Kolkata and other cities of India.
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