Ulwe's real estate prices skyrocket over the years

Nowadays the little-known Ulwe in Navi Mumbai is attracting real estate buyers. Ulwe is a collection of villages whose real estate value has skyrocketed by an average of 30 per cent annually over the past five years.

Real estate growth is taking place in villages such as Morave and Shivaji Nagar and under-construction apartments are occupying the space. A real estate price explosion courtesy of a proposed airport project and a 22-km trans-harbour link connecting the main city to Navi Mumbai coupled with extensions of railway networks and increasing interest from corporates has enabled the local villagers to get good value for their land properties.

A spate of projects, including a special economic zone (SEZ) by Reliance Industries, are lined up for this region.