TIMES PROPERTY WITH THE HOUSING DEMAND SURPASSING PROPERTY EXPERTS ARE OF THE VIEW THAT THE RESIDENTIAL INVENTORY, THE REALTY 2-BHK APARTMENTS ARE FAVOURED IN 04 MARKET OF THANE IS INCLINED TOWARDS THANE, ESPECIALLY IF THEY ARE PRICED A TIMES OF INDIA PRESENTATION AREA WATCH: PROPERTY OWNERS. BELOW RS 50 LAKHS.

SATURDAY, JULY 25, 2015

|Sujatha Vishnuraj Thampan [email protected] LOCATIONALERT , avi is envisaged as a metro-sized counter magnet to reduce FASTFACT a realty story the pressure on the NMumbai metropolis. It is DRONAGIRI IS BEING DEVELOPED AS DAWN OF A FUTURISTIC BUSINESS HUB AND A planned as a polycentric new Ulwe today has emerged on the realty map of GLOBAL GATEWAY FOR TRADE, town with a series of nodal con- COMMERCE, INDUSTRY, AND and is perceived as a vital centrations along mass-trans- SERVICE ACTIVITIES IN INDIA port corridors. When fully built, DRONAGIRI investment destination it is expected to have 14 such townships with a combined pop- station, which is being con- |Surbhi Gupta ulation holding a capacity of four Dronagiri, known for its hilly terrain and rather heavy structed near sectors 47 and 48, [email protected] million people and one million will link Panvel to the Jawahar- jobs. One among them is Drona- rainfall, is slowly marching towards establishing itself as lal Nehru Port Trust (JNPT). hen the Navi Mumbai International Airport was proposed giri. The Dronagiri node of Navi The Mumbai Trans Harbour near Panvel, the closest realty hub of Ulwe was predicted Mumbai’s SEZ is on the southern the new realty prospect Link project will push infra- to witness commercial develop- tip of Navi Mumbai and is spread structure development here. ment. However, things didn't go over a total area of 1250 PRASHANT NAKWE This link will cut down travel as per the prediction. PropIn- hectares. The SEZ site in the time between Mumbai and Navi Wdex, an India Apartment Index by Magicbricks, Dronagiri node is surrounded by Mumbai. Basic infrastructure has listed Ulwe as one of the most preferred lo- a long waterfront and water bod- has already been developed in calities for outright purchase. With the coming ies. The site has excellent con- this zone. But, the question is of the new state government, stalled infrastruc- nectivity by rail, road, air and whether Dronagiri is ready for ture projects are being pushed with full force. sea. It also skirts on the bound- vast residential development. Actually, Ulwe is one of those localities, which FASTFACT ary of , The region receives rather saw ample real estate development in the last ULWE SAW AMPLE REAL one of India’s largest and most heavy rainfall regularly during four years. The market however, remained in- ESTATE DEVELOPMENT IN modern sea ports. The Mumbai the months of August through vestor-driven even after deliveries of projects THE LAST FOUR YEARS.THE harbour region is on one side of November. Keeping this in mind, with ready-to-move-in units. The attributed MARKET HOWEVER, the site and the Karanja creek CIDCO has installed ponds in reason was the poor infrastructure and unlive- REMAINED INVESTOR- lies on the other. the area to allow water to accu- able conditions that restricted the population DRIVEN, EVEN AFTER The long waterfront and water mulate during high tides and growth in the area. “The roads are still not DELIVERIES OF PROJECTS bodies available to the site, heavy downpours and during a made. The sewage lines are yet to be construct- WITH READY-TO-MOVE-IN would be effectively utilised to low tide, water from the holding ed and the drainage system also needs attention. UNITS develop world-class residential ponds flows back into the sea, In fact, some of the projects do not have elec- facilities within the Navi Mum- ensuring proper drainage. The tricity and water connection. Hence, the delay bai SEZ. Proposed industrial fa- zone is characterised by loose of occupancy certificate," says Kaushik Shiv- cilities in the node would cater soil with a low-bearing capacity, ram, one of the property dealers in Navi Mum- to the port-based industries, in- and black stiff clay. Nilesh bai. Adding to this, he said, "Even minimum in- cluding light engineering, appar- Gende, a real estate investor and frastructure is missing. Hence, investors who el, logistics and warehousing. a soil engineer, associated with bought property here are not moving in." This node would also comprise the central government, says, of multi-services sector, includ- “Development of Dronagiri QUICKBYTE HAS THE SITUATION CHANGED? ing IT/ITeS, commercial and needs to be done in a very scien- THE ROADS ARE STILL Although the ground reality would take time to trade facilities, thereby, aug- tific manner. The soil structure NOT MADE. THE change, CIDCO has fast-tracked infrastructure menting the development of this is impervious and this can lead SEWAGE LINES ARE YET development of the Ulwe node. The concerned node as a self-contained inte- QUICKBYTE to many drainage problems if TO BE CONSTRUCTED authority is expediting the work of the 8 kms grated township. DRONAGIRI IS THE ONLY NODE IN NAVI MUMBAI, WHICH WILL construction is not planned AND THE DRAINAGE link, which would connect Seawoods Darave SYSTEM ALSO NEEDS The design of the node would BE CONNECTED BY ROAD, RAIL, SEA AND AIR, WITH CURRENT properly.” According to Jagtap station to Kharkopar and include five stations. PRICES IN THE RANGE BETWEEN RS 3500 AND 4500 PER SQ FT, ATTENTION. IN FACT, bring to reality the ‘walk-to- Patil, a civil engineer and an en- SOME OF THE This smooth connectivity is expected to ensure work’ philosophy, with residen- ati Constructions Ltd, and me- WITH 1 AND 2-BHK FLATS BEING THE STANDARD SIZE IN THE vironment activist, “Dronagiri the movement of end-users into the locality. AFFORDABLE LUXURY SEGMENT. PROJECTS DO NOT tial facilities being developed ad- dia convenor for CREDAI Na- comes under the Coastal Regula- HAVE ELECTRICITY AND Moreover, the noted demand of properties in jacent to the office spaces. “It tional, says, “Dronagiri is the tory Zone I category and it is a WATER CONNECTION; Ulwe definitely suggests sunny days ahead. At HENCE, THE DELAY OF has grown well along most seg- only node in Navi Mumbai, confirmed wetland as per a 2010 OCCUPANCY least, data trends say so. ments - high-end residential which will be connected by road, tate the Jawaharlal Nehru Port ly, a coastal road of 8.30 kms directive but the development CERTIFICATE. along Palm Beach Road, for in- rail, sea and air. The current and the existing population. long has been planned from NH- happening in Dronagiri is quite MagicBricks Bureau stance or some sectors in price in Dronagiri is between Rs Various container freight sta- 4B to Sector-63 of the Dronagiri the opposite of what the court for commercial development or 3500-4500 per sq ft with 1 and tions, fuel terminals and NM- node. Developed by CIDCO, has stated about development in Editor: Viren Naidu ([email protected]) the Ambani Knowledge City on 2-BHK flats being the standard SEZ, are also a part of this node. Dronagiri is becoming a popular the wetlands." Kapil Gurjar, a lo- Team Times Property (Mumbai): Kamini Kulshreshtha, Noopur Modi, Shehzin Shaikh the Thane-Vashi Road,” says, Ni- size in the affordable luxury seg- In order to ease the heavy traffic hotspot for investors and is like- cal resident adds, “We have no Marketing Coordinator: Gaurav Bhatnagar (9833579759) ranjan Hiranandani, MD, Hi- ment.” The CIDCO has planned due to the container move- ly to emerge as the most sought- clue about how they have got Chief of Design Head: Madan Patil, ranandani Group. and developed an integrated ments, there is a need for a after destination for affordable ecological and environmental Creative Team: Avinash Virshid, Nitin Sawant, Chetan Narkar (RESP-ART: MUMBAI) Rajesh Prajapati, MD, Prajap- township at Dronagiri to facili- coastal road as well. According- housing. The Bokadvira railway clearances.”