Property Expo: Affordable Housing Projects Navi Mumbai Raigad
Affordable Housing Projects Navi Mumbai Raigad: At the just concluded property expo of Maharashtra Chamber of Housing Industries (MCHI), there were several enquiries for affordable housing projects Navi Mumbai Raigad areas at the 150 exhibition stalls put up by city developers.
There were over 47,000 formal registrations at the expo held at Mumbai Metropolitan Region Development Authority grounds. Nearly 1,000 enquiries were made for flats at various stalls of Navi Mumbai builders like Prajapati Constructions and Gurnani group. Many were also looking out for smaller, affordable flats like one-room-kitchen (1-RK) and one-bedroom-hall-kitchen (1-BHK) in far-flung areas like Khopoli and newly developing nodes like Dronagiri and Ulwe, said former secretary of MCHI-Navi Mumbai.
While 1-RK houses in such areas cost in the range of Rs 16 Lakh to Rs 17 Lakh and 1 BHK costs around Rs 28 Lakh. Working class customers are ready to invest that much for their homes. The promised connectivity to these regions by roads, rail and other modes of transport have led to the popularity of these new housing projects in these areas.
City developer of Prajapati Constructions said inflation has been low for a while now while the interest rates on housing loans offered by banks is also low at 8.3%.
Seawoods-Uran rail link work has started while the Trans-Harbour Sea Link project is also on to bring Mumbai closer to new regions in Navi Mumbai and Raigad.
Chairman of Anarock property consultants said in a recent media release, Skyrocketing property prices, land saturation and subdued demand for mid-range homes in the tier-I cities like Mumbai have led buyers and investors to explore more cost-effective markets in non-metro (tier II & III) and suburb cities. Overall connectivity is helping these cities to grow faster than before.
Source Link- https://timesofindia.indiatimes.com/city/navi-mumbai/property-expo-many-keen-on-projects-in-ulwe-dronagiri/articleshow/61787625.cms