Real estate news on Roadpali: An affordable alternative to Kharghar

Investors/ Investment proposal, IT/ITeS, Price Trends, SEZ, Residential Properties, Mumbai Navi
Posted on Sep 05, 2014
Kharghar, a node city of Navi Mumbai, has been one of the most preferred localities to buy a residential property in and around Mumbai for the past one year. This has resulted in a rise of 24 per cent in property prices in the last one year. As a result, the locality has become out of reach for many buyers with a limited budget who are forced to look for alternate affordable options close by. Most of the properties in Roadpali are part of gated communities and are being offered mostly by local developers. “These developers have been in the area for 5-6 years and have 2-3 developed or ongoing projects. While low property prices are attracting end-users, low initial investment and a gradual price rise has kept investors interested in the area. “Development of Roadpali started in the year 2008, with property prices at Rs 3,200 per sq ft. Currently, they are close to Rs 5,000 per sq ft, a rise of approximately 56 per cent in the last six years. This itself speaks about the investment prospects of the area. A Navi Mumbai SEZ is also under construction in Kalamboli. Spread over an area of about 310 hectare, it is being developed as a multi-services hub, including IT /ITES.

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