City and Industrial Development Corporation (CIDCO)

THE UPCOMMING AIRPORT PROJECT,SEZ and proper amenities lure more people to Navi Mumbai.THE PROPERTY MARKET IS AT ITS PEAK THESE DAYS SPECIALLY AT Palm Beach Road, Kharghar and Ulwe. Plots have even been sold for Rs 40,000 per sq m.

ABREST WITH NAVI MUMBAI THE PROPERTY MARKET IS BOOMONG ONCE AGAIN.

Kharghar and Palm Beach Road areas have a high demand an Prices there have reached Rs 10,000 ­ 11,000 sq ft and Rs 6,000 sq ft in Kharghar, which has witnessed a rise of Rs 500- 700 sqft in the last few months

According to Atul Aggarwal, chairman trustee, Builders Association of Navi Mumbai the title clearance and the infrastructure attracts people.

He said: “Navi Mumbai Municipal Corporation (NMMC) and City and Industrial Development Corporation (CIDCO) approvals come fast and so the formalities are com- pleted faster. In areas like Kharghar Rs 50 crore worth of infrastructure work was completed before the land their was sold by CIDCO. Similarly in Ulwe, the infrastructure is being readied before the land there is sold. Roads, drainage, water and electricity supply is good in the city and attracts buyers.“

IT IS BELIVED THAT THE AIRPORT PROJECT HAS PROVED AS A BOOST IN THE CITI`S GROWTH.

The market will see more growth as CIDCO tender plots even in areas like CBD Belapur are going for Rs 1,26,000 sq.ft.

WELL IT IS PREDICTABEL THAT THE PROPERTY RATES ARE JUST GOIN TO DOUBLE IN THE NEXT 3 TO 5 YEARS.