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Navi Mumbai, Mumbai : Location Review and Investment Options

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Navi Mumbai, Mumbai : Location Review and Investment Options

Last updated: June 19 2017
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  • Navi Mumbai, Mumbai : Location Review and Investment Options

    recently I visited Navi Mumbai and was shocked to see new development sprouting all around. I met with few builders/developers who were offering flats for 3500/sf to 4000/sf in Kharghar with a potential to go upto 5000/sf to 5500/sf by the end of next year. I am planning to invest in a flat in Navi Mumbai area and looking for some advice from people who have invested. Is it a good time to invest in that area? What are the potential pitfalls? Is it worth to hold on to your investment or sell it?
  • #2

    #2

    Re : Navi Mumbai, Mumbai : Location Review and Investment Options

    khargar

    Hi Mitesh,

    I also visited Navi Mumbai recently and my observation was the same. I am planning to purchase an appartment in Khargar and also on Palm Beach. Do let me know if you get any responses from local people or investors from the area re potentials

    Thanks
    Dinesh

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    • #3

      #3

      Re : Navi Mumbai, Mumbai : Location Review and Investment Options

      I believe you'll should wait for 2 to 4 months because experts predict that Real Estate prices might fall atleast 20% between 2 to 6 months. Also, April and May is vacation time in India so if during these two months builders don't find many buyers then monsoon is slack season, result of all this sure real estate prices will fall.

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      • #4

        #4

        Re : Navi Mumbai, Mumbai : Location Review and Investment Options

        You sure have raised a very good point regarding seasonal fluctuation. I live in USA and I have seen seasonal fluctuation affecting real estate market. How much does seasonal fluctuation affect the market, especially new construction?

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        • #5

          #5

          Re : Navi Mumbai, Mumbai : Location Review and Investment Options

          Guys pls suggest - Agents are telling me that if I buy in G+7 rather than a tower then the construction quality will not be good. A 2bhk in a tower near Kharghar is costing me around 75 lacs and the same flat if I buy in some G+7 building then it is costing me 62 lacs approx. What should I do? Is the construction quality in G+7 not good? Should I be considering it or not? Pls suggest

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          • #6

            #6

            Re : Navi Mumbai, Mumbai : Location Review and Investment Options

            Originally posted by kavpem View Post
            Guys pls suggest - Agents are telling me that if I buy in G+7 rather than a tower then the construction quality will not be good. A 2bhk in a tower near Kharghar is costing me around 75 lacs and the same flat if I buy in some G+7 building then it is costing me 62 lacs approx. What should I do? Is the construction quality in G+7 not good? Should I be considering it or not? Pls suggest
            There are some G+7 buildings in the vicinity that are average in quality. The difference in price is something to consider. There are other things to be considered like park, parking, swimming pool etc. If you are happy with the amenities that come along in a G+7 building then there is nothing much to be apprehensive of.

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            • kavpem
              kavpem commented
              Editing a comment
              When I first started looking I only wanted something with the swimming pool but soon I am realising that as the time goes by, societies are not taking care of the amenities. How about I buy a flat in G+7 with basic amenities.
              Last edited by kavpem; June 16 2017, 05:09 PM.

            • manzb
              manzb commented
              Editing a comment
              kavpem ; Good Idea .. better go for Gymkhana or club membership..
          • #7

            #7

            Re : Navi Mumbai, Mumbai : Location Review and Investment Options

            kavpem there is nothing wrong with buying a house in a G+7 with basic amenities. What manzb suggested is also great. You can opt for memberships of clubs that offer all amenities.

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            • kavpem
              kavpem commented
              Editing a comment
              Thank you both. I will look into it. But another question is. Do reputed builders build G+7. If I like something in that but the builder is not well known, then what do I do? Also do you know any solicitors in and around Kharghar area who can help me finish all the property paperwork? Someone I can rely on pls. Thank you so much for all your help.
          • #8

            #8

            Re : Navi Mumbai, Mumbai : Location Review and Investment Options

            kavpem many small time but genuine builders construct G+7 buildings and there are rarely any incidences of cheating in Kharghar with regard to small projects. These builders mostly build small projects owing to their financial capacities and availability of land and also as small projects are easier to be delivered on time. Just try to go around more and search more such homes yourself too. Spending time for house-hunting is a very beneficial thing.

            You will find many agents offering such flats and there is nothing to worry about. Nowadays, agents have become more organized and will facilitate everything.

            The best would be to go around and share your findings here on the forum so as to discuss more on it. It will help you take an informed decision and also be of great use for other members.

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