Developers excited as Navi Mumbai infrastructure nears completion
ECONOMY & POLICY

Developers excited as Navi Mumbai infrastructure nears completion

The completion and upcoming operation of infrastructure projects like the Navi Mumbai metro, MTHL (Mumbai Trans Harbour Link), and Belapur-Uran suburban train network have sparked interest among developers in Navi Mumbai. The developers' body believes that investors will benefit from good returns on investment along the 11 km stretch of Navi Mumbai, which is now ready and set to be operational soon.

The recent receipt of a safety certificate for Line 1 of the Navi Mumbai metro by CIDCO (City and Industrial Development Corporation) from CMRS (Commissioner of Metro Rail Safety) is significant. This certification means that Taloja, which was previously only accessible by private vehicles or a limited number of buses from NMMT (Navi Mumbai Municipal Transport), will now be easily accessible for citizens. This improved connectivity has led to a surge in housing projects in the area, including thousands of homes being constructed by CIDCO under the Prime Minister Awas Yojana.

While other parts of Navi Mumbai experienced a significant rise in prices after the COVID-19 pandemic, Taloja remained relatively unaffected due to its lack of connectivity. Areas like Kharghar, which have railway access and frequent NMMT services, witnessed price increases. However, with the introduction of metro services, the Pendhar-Taloja belt will now be better connected. Real estate experts predict a major demand for affordable housing in the area, which could lead to a price rise of up to 20%.

Currently, one-bedroom flats in Taloja start at ₹20 lakh, and it is expected that they may see an appreciation of Rs 1 to 2 lakh or a 5 to 10% increase in the coming months.

Apart from generating revenue from metro services, CIDCO is actively seeking new sources of income. In 2021, the CIDCO board passed a resolution to amend the General Development Control Regulation (GDCR) to support its infrastructure projects. However, the approval of the state government is required for this amendment to come into effect.

The completion and upcoming operation of infrastructure projects like the Navi Mumbai metro, MTHL (Mumbai Trans Harbour Link), and Belapur-Uran suburban train network have sparked interest among developers in Navi Mumbai. The developers' body believes that investors will benefit from good returns on investment along the 11 km stretch of Navi Mumbai, which is now ready and set to be operational soon. The recent receipt of a safety certificate for Line 1 of the Navi Mumbai metro by CIDCO (City and Industrial Development Corporation) from CMRS (Commissioner of Metro Rail Safety) is significant. This certification means that Taloja, which was previously only accessible by private vehicles or a limited number of buses from NMMT (Navi Mumbai Municipal Transport), will now be easily accessible for citizens. This improved connectivity has led to a surge in housing projects in the area, including thousands of homes being constructed by CIDCO under the Prime Minister Awas Yojana. While other parts of Navi Mumbai experienced a significant rise in prices after the COVID-19 pandemic, Taloja remained relatively unaffected due to its lack of connectivity. Areas like Kharghar, which have railway access and frequent NMMT services, witnessed price increases. However, with the introduction of metro services, the Pendhar-Taloja belt will now be better connected. Real estate experts predict a major demand for affordable housing in the area, which could lead to a price rise of up to 20%. Currently, one-bedroom flats in Taloja start at ₹20 lakh, and it is expected that they may see an appreciation of Rs 1 to 2 lakh or a 5 to 10% increase in the coming months. Apart from generating revenue from metro services, CIDCO is actively seeking new sources of income. In 2021, the CIDCO board passed a resolution to amend the General Development Control Regulation (GDCR) to support its infrastructure projects. However, the approval of the state government is required for this amendment to come into effect.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code