suavedude

Hello Mumbai

I am looking to invest in a 3BHK Apartment in Navi Mumbai area. The much needed new international airport looks like a DONE deal now .

In view of the new airport and proposed SEZ's in the area , which are the residential projects which are good for investment ( 5 year horizon ) in your view ? I am a native of Delhi , so I look forward to reading your views.

Some of the projects I am aware of are Indiabulls , Hirco , are there any other good upcoming projects likely to benefit from the new airport ?

And 3 Cheers for getting a much needed new airport. It will help Mumbai immensely I feel.

nisars

Hello there,


I had the same question in mind and personally I have no info on under construction projects in Panvel vicinity. However, I booked a flat at Lodha CasaRio project Dombivali East area. Although still in booking stage, possession is estimated by end of 2013 (per Lodha). It’s about 15 mins drive from CasaRio to New Mumbai Airport site.

Of course there are other attractive projects in and around Panvel area which you can do research for on this forum.

NisarS

peeya

hi i find indiabulls greens is one of thr best project..even kalpataru is having a vry nice response..i myself have booked the flat in indiabulls greens in panvel when the rates wer 2200-2400 and i got the deal all together 2400/- and now rates are 3100/-psf..i find panvel would be the best option to invest at this stage..

cust_indiabulls_panvel

Hi

Could you please verify the distance between casa rio and Panvel airport - it seems to be almost 24 km?

VishalPrabhakar

nisars,

cust india bulls is right...

Kalyan/dombivali is right in the opposite direction of navi mumbai...

did u mean 15 mins of "flying" time..? - then yes, you got it right :-)

suavedude

LOL Vishal

But , maybe Nisars does own a real cool car

Good to see people giving their inputs. I request senior members to shed some lights as well as to which are the projects worth investing assuming Navi Mumbai Airports takes off ( and it seems it will ) ?

nisars

Not sure about the exact distance. But sure know that the distance from Dombivali Raily Station to proposed Panvel Intl Airport is about 24km. However, CasaRio is located in Dombivali east area, about 8km away from Dombivali Railway Station itself. I personally drove from CasaRio site to proposed Panvel Airport site and took about 15 mins to drive (non peak hours). Also, took a test ride to Thane Railway station and it took 35mins from CasaRio site. I know these areas very well, as I used to commute between Kalyan and Vashi.

I hope that helps.

NisarS

Sharpj

Certainly areas in an around New Mumbai will see a price increase..
But here is my take on this.. if prices need to see real appreciation and stay there, then infrastructure really needs to improve.. Good supply of Water, power, and good roads and connectivity. will ensure that. So far we have seen Navi Mumbai corporation deliver, hopefully they ...do continue. In India I never see anything as urban planning.. only after all these constructions get completed will people worry about, how to supply water..
A fully functional airport is still 4 years away.. but we might pay price of it immediately.. as builders will spin the airport story to get more money out of you..
Anyone who has already invested.. good decision.. anyone who does now.. check the price.. why do you think a builder will be benevolent enough to pass you any benefits..

Retail Investors never benefited be it IPO's or Real estate. If it is for your own residential purpose.. yes maybe go ahead.. for investment.. whats the mode you wish to earn.. rentals.. maybe 10 years from now you will see some value.. capital appreciation.. your guess is as good as mine..

Manoos

Does it really help to stay near a airport ? i do not see ever that flats are sold in andheri or santacruz with the feature saying 'near to airport'. there doesn't seem a gr8 demand.

it would be much more gr8 to invest in land as ppl will be interested more in infrastructure than flats.

geeee

There isn't going to be any significant benefit for any particular location or society in New Bombay. New Bombay as a whole will probably see some price appreciation or maybe increased demand because of the airport. The few projects that should see real benefits would be the ones that were targeted towards NRI's etc. Since, now they don't have to travel 60KM's to the airport. So, NRI seawoods or anything by Hiranandani or other builders that have a good reputation with the NRI population should see some real benefits since these people would actually benefit from an airport being close by. And they might actually be willing to pay a bit more now that there is an airport coming up. There also might be some other frequnet fliers who might benefit but, I don't think that would translate into benfits for any particular project or location. Decision to investment in a particular location within new bombay really shouldn't be affected by the airport. Current and future infrastructure in a particular location is what one should go by when deciding on a location in New Bombay. Vashi, Seawoods and Kharghar are still the best places to stay in New Bombay and probably the best locatiosn for investment as well.