Navi Mumbai

Navi Mumbai or New Bombay located in the state of Maharashtra, in India, sis the largest planned new city in the world. This satellite city of Mumbai was established in 1972. The real estate in the city is booming owing to rapid development in the city. It has a developed industrial area known as Trans Thane Creek (T.T.C.) Industrial Area. The area has been further divided into Engineering Zone, Chemical zone, Textile Zone, Food Processing Zone, Electronic Zone and Knowledge Park.

Real Estate Scenario in Navi Mumbai
Being a planned city, Navi Mumbai is well constructed and is the only city in India to be named as the "NO SLUMS City". Vashi and Nerul are the best and the costliest areas of this city. The metropolitian areas of Mumbai also includes Navi Mumbai.

Residential Real Estate Vashi, Sampada, Panvel, Nerul, Airoli are some of the residential areas in the town. The price of these properties ranges from Rs. 1100 to 4500 /sq.ft. The rate differ depending on location to location and various other factors. Developers are building various complexes of international standards for meeting the requirements of NRIs. This poses a lucrative opportunities for global investors to buy residential properties in the city and reap high rate of return.

Commercial Real Estate
Different commercial areas in the city are witnessing price rise because of realty development and other activities by leading developing companies. Recent construction of various malls and retail projects in Nerul have made it the one of the best areas with high property prices. The ongoing project of Navi Mumbai International Airport in an area of 950 acres will further raise the realty prices in the city. It will be operational by 2013.

Industrial Real Estate

Navi Mumbai SEZ
According to the Special Economic Zone ("SEZ") Policy, announced by the Government of India, SEZs will be created in strategic locations in the different parts of country. This was done to provide an globally competitive and hassle-free environment for exports to various parts of the world. These zones are have been made duty free and also offer various regulatory and fiscal incentives for both developers and units within the SEZ.

Navi Mumbai has been selected as one of the strategic locations in India, where the largest SEZ is being set-up. This will boost the exports of Indian manufacturers across industries. The zone has state-of-the art infrastructure and has locational advantages as it is close to Mumbai , has well-developed road and rail linkages and also connected to most modern seaport - Jawaharlal Nehru Port Trust ("JNPT"). This development of SEZ will further raise the prices of the industrial property in the town.

Real estate investment opportunities
The city offers lucrative opportunities for global investors in real estate. The starategic location of the city, near the financial capital of India-Mumbai, makes it lucrative for companies as well as individuals. With rapid industrialization and urbanization, there are a host of opportunities in the city in real estate.