Neral- Karjat: Go-to destination for first-time homebuyers in 2022

[Inputs from Mr. Anand Mane, Vice President, NAREDCO Progressive Neral-Karjat Unit]

It is located within the Mumbai Metropolitan Region and is well connected by Local trains and Road connectivity from both Thane and Panvel.  This region was initially identified as a destination to be developed as a peaceful and well developed Residential locality with in MMR. Slowly the process started and now it’s well recognised destination amongst the Affordable Home seekers looking out for their Dream Abode.

This location has array of offerings right from single buildings to complexes and to Townships loaded with Amenities, Low cost to Affordable Luxury and not to forget the Bungalows and Farm Houses. It offers homes for Young newly married families to large joint families.

Neral Karjat is a Heavenly destination for a weekend gate way hence, the most seeked after location for the Farm houses and who’s who of Mumbai’s famous have their farm houses here.

Budget: - Starting 15 Lacs to 70 Lacs

Availability of Social infrastructure:-

·         Well connected by Mumbai Local Railways

·         Well-developed Market and Operational Supermarkets

·         Hospitals & Nursing Homes

·         Schools of Central and State Boards, colleges and Management colleges

·         Connected by state Highways to all the important commercial and industrial destinations like Badlapur, Ambernath, Rasayani, Khopoli, Kalyan, Panvel and Thane and beyond.

·         Availability of abundant clean water supply from various streams and natural reservoirs is a blessing.

·         Good number of Hotels, resorts and restaurants all categories to cater to segment of people

·         This location sees a registration of 5000 homes this year and is growing by 10-15 percent annually. The growth is expected to multiply; an internal study report says in the next five years the Home sales would be approx 50 K.

 

Triggers of Growth in Demand:-

Ever growing infrastructure like

·         Connectivity of Local Railway via Panvel- Karjat line expected to complete by 2024

·         National highway passing through Matheran and connecting Panvel, Uran

·         Upcoming railway yard

·         Development of Tourism

·         Upcoming large universities, Business and Medical, Colleges

·         Upcoming Neral Matheran Ropeway - This is estimated to be one of the longest ropeways in India (4.7 KM) and will become a major tourist attraction.

·         Connectivity to Upcoming Airport

Local administration here is aware of this growth and potential in the region and is getting equipped to provide a balanced and good living for the residents. Development of internal roads, drainage, Sanitation, Fire Brigade water supply etc. are getting done up at a good pace and provisions are being made for future growth.

For those looking at moving out from overcrowded urban conglomerations in locations like Mumbai and Thane, the two options of Neral and Karjat offer peace and tranquillity. Offering pleasant and serene residential options across different price points, the two locations are among the fastest growing residential areas in the Mumbai Metropolitan Region. From row houses and bungalows to affordable apartments and flats that offer affordable luxury, the two residential options offer home options that a home seeker would love to pick up-for good reason.

After COVID, life in Mumbai is getting more challenging. Mumbai residents are shifting, moving to locations that provide clean air to breathe, a green environment, affordable prices for homes, planned complexes and townships for better life. It is these points which make Neral and Karjat popular affordable destination in MMR

With all this and the coordinated involvement of Local Authorities, Private Builders, MMRDA and state bodies the region is poised to fulfil the MMR’s requirement to Affordable Homes in true sense and in true spirit.