Search for affordable homes reaches Khopoli

After Kharghar, Kamothe, Kalamboli and Panvel, it is Khopoli that has caught the eyes of real estate developers from the satellite city.

They have lined up several big and small projects in the area surrounding Khopoli where they are offering affordable homes to prospective property buyers.

Even the MCHI-CREDAI expo had many projects that are coming up in this area, and according to developers, the area has become a hub of construction activity since it is near to the proposed Navi Mumbai International Airport project.

“The area is in tremendous demand ever since the Maharashtra government appointed the City and Industrial Development Corporation (Cidco) as the special planning authority to develop the area coming under the proposed international airport. The demand is such that there is hardly any land left in the area to be developed since many small and big developers have already acquired it due to affordable land cost. Of the total land available in the Navi Mumbai Airport Influence Notified Area, 30% is currently with the farmers, while the remaining 70% is held by the investors,” Kiran Bagad from Marvel’s Group said.

He added that areas such as Chowk, near Khalapur and along Pen-Pali Road is currently untouched. “There was connectivity issue earlier, but with Cidco taking up the infrastructural development in this part, the issue has been resolved to much extent. It will be one of the most sought after destinations in the coming years. Recently through the MCHI-CREDAI Property Exhibition, we met chief minister Prithviraj Chavan and requested him to take up development in this area on a fast pace,” Bagad said.

Another developer, Madhu Patil from Madhuraj Constructions, said with the Cidco taking up development along this area and their micro-level planning almost complete, infrastructure will get a boost in this area.

“Besides the above villages, those near Panvel city such as Nere, Koproli, Adai, Devad, Usarli as well as Palaspe and Kon villages along the Mumbai-Pune highway have been attracting investors as well as developers,” Patil added.

Agreeing to the views expressed by the developers, real estate consultant, Srikrishna Goswami said Rasayani is also one of the most sought-after destinations among buyers simply because of the presence of big industrial units there.

“It has plants of some of the major chemical companies and big industrial units. Those employed in these units prefer the area so that they can avoid travelling to far off places. Keeping this in mind, many big developers have planned townships as well as residential complexes at Rasayani that has upped its demands,” Goswami said.

“Besides this, the proximity of the village to Khopoli and Panvel also adds to its demand since both these cities are situated at a distance of around 10-15km from Rasayani. Also, the current realty rate in this area is between Rs2,500 and Rs3,000 per sq metre that makes it an affordable destination for home buyers. People are preferring it since they know that it is a good investment for the future,” Goswami added.

He concluded by saying that once the proposed special economic zone becomes a reality, then the area will get a further boost.

In all, 270 villages in Panvel, Khalapur, Pen, Karjat and Uran talukas of Raigad district fall under NAINA for which the Cidco has submitted a detailed development plan to the state urban development department. Once approved, the town planning agency will start implementing its plan.

Tremendous demand
Real estate developers have lined up several big and small projects in the area surrounding Khopoli where they are offering affordable homes to prospective property buyers.

Even the MCHI-CREDAI Property Exhibition, which concluded on Monday, had many projects that are coming up in this area, and according to developers, the area has become a hub of construction activity since it is near to the proposed international airport project. “There was connectivity issue earlier, but with Cidco taking up the infrastructural development, the issue has been resolved to much extent,” said Kiran Bagad from Marvel Group.

Another developer, Madhu Patil from Madhuraj Constructions, said with the town planning agency taking up development work along this area and their micro-level planning almost complete, infrastructure will get a boost in this area. Real estate consultant, Srikrishna Goswami said Rasayani is also one of the most sought-after destinations among buyers simply because of the presence of big industrial units there.