The real estate market in Navi Mumbai is witnessing a 12% growth, driven by the increasing demand for affordable housing. According to a report by ANAROCK, the demand for affordable housing in Navi Mumbai is expected to continue growing, with a forecasted growth of 15% in the next year. The most in-demand segments in the Navi Mumbai market include 1BHK and 2BHK apartments, with prices ranging from ₹20 lakh to ₹50 lakh.
The growth of the real estate market in Navi Mumbai is also being driven by the development of new infrastructure projects, such as the Navi Mumbai International Airport and the Mumbai Trans-Harbour Link. These projects are expected to boost the demand for housing and commercial spaces in the region, thereby driving the growth of the real estate sector. As the real estate market in Navi Mumbai continues to grow, it is expected that the demand for properties will increase, driving up prices and rents.
According to a report by Knight Frank, the average price of a residential property in Navi Mumbai is expected to increase by 12% in the next year, driven by the increasing demand and limited supply. Channel partners such as JLL and Cushman & Wakefield are also expecting a growth in the demand for commercial spaces, with rents expected to increase by 15% in the next year. The growth of the real estate market in Navi Mumbai is also being driven by the growth of PropTech companies, such as PropTiger and Makaan.com, who are providing online platforms for property buyers and sellers to connect.
