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Infrastructure Initiatives Extension of Navi Mumbai

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Infrastructure Initiatives Extension of Navi Mumbai Ulwe Ulwe is a quiet suburb in Navi Mumbai, which is witnessing a lot of buyer interest in recent times. The Panvel Creek separates it from the developed suburbs of Seawoods and Belapur. Until few years back, Ulwe was a little known locality which was predominated by fishing villages such as Morave and Shivaji Nagar. Over the last five years, prices here have skyrocketed with an average annual appreciation ranging between 25-30%. The spurt and recognition of Ulwe as one of the fastest growing Mumbai suburbs, has come about because of both the inprogress and proposed infrastructure projects. Infrastructure Initiatives Residential Demand in Ulwe Extension of Navi Mumbai Under Construction 30% Suburban Train Network (Nerul – 25% Seawoods – Uran) 20% New Mumbai International Proposed Airport 15% Sewri – Uran Sea Link Proposed 10% Navi Mumbai Special Economic Proposed 5% Zone (SEZ) by Reliance Group 0% Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Talking about the current status of Ulwe, the micro market is yet to develop and lacks basic infrastructure including a network of roads, water supply and drainage system Public transport available is also limited with few buses and private auto-rickshaws running, with approximate waiting time ranging between 20-30 minutes For more on our research | Samidha Bansal | Deputy Manager - Research and Analysis | +91 (044) 3098 0519 | [email protected] It’s a known fact that the Local Train Network Major Residential Projects in Ulwe: is one of the key life lines for functioning of Mumbai and its suburbs PROJECT DEVELOPER PROPERTY PRIICE (INR The extension of Navi Mumbai Suburban psft) Vedant Ayush Hariom 4000 -4500 Train Network connecting Nerul – Seawoods – Developes Uran, will put Ulwe on the local train network. Sai Puja Kishor 4500 It is currently under construction Complex Construction The New Uran Road connects Ulwe to the Corner Proviso Group 4000 -5000 Paradise Today Group 4000 -5000 Belapur CBD (Central Business District), White Castle Lakhani Group 4000 -5000 making Ulwe a preferred destination for Kingston Swaraj Group 4000 -5000 staying Sai Sapphire Paradise Group 4000 -5000 Orchid Bliss Sunny Buildtech 4000 -5000 Budget Preference of Buyers (per Sqft unit rate) Ulwe is also in close proximity to the functional Jawaharlal Nehru Port and Sion- 50% Panvel Expessway which further connects to the Mumbai-Pune Expressway 40% The mentioned aspects have made Ulwe a 30% favourable end user destination, as it is 20% affordable compared to its neighbouring 10% localities and yet well connected. But the bigger reasons for price explosion and 0% drastic increase in investor interest in Ulwe < 2000 psft 2000 - 3000 3000 - 4000 4000 - 5000 > 5000 psft psft psft psft were the proposed International Airport, 22- km Sewri-Uran trans-harbour link connecting Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 the main city to Navi Mumbai and a Special Economic Zone (SEZ) announced by Reliance If all these projects come through, then growth Industries. of Ulwe would have a story to tell in the future But unfortunately as of today, there is no clarity Unit Type Preference of Buyers regarding the progress and future of these big 80% infrastructure and development initiatives 70% SEZ, Airport and the improved connectivity via 60% the sea link, are seen as engines that will ensure 50% that the area and the surrounding places get 40% good-quality roads and other infrastructure 30% This has made both end users and investors 20% apprehensive about the future of Ulwe 10% As the property rates have already appreciated 0% due to the announced infrastructure projects, 1 BHK 2 BHK 3 BHK s the future growth of the area is directly linked to Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 the revival of these key projects About IndiaProperty.com India Property Online Pvt. Ltd. is country’s leading portal in the online real estate space. IndiaProperty.com offers one-stop property marketing solutions serving builders, real estate agents and home owners to sell or rent their properties, while offering a feature rich interface for property buyers to search and identify properties that match their requirement. The portal receives over 1.2 million unique visitors a month, has 4.5 lakh properties listed across 20 cities, 3 million active registered users and over 1000 new projects advertised. For more on our research | Samidha Bansal | Deputy Manager - Research and Analysis | +91 (044) 3098 0519 | [email protected] .
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