The real estate market in Navi Mumbai is experiencing a significant boom, with property prices increasing by 15% in the last quarter. According to a report by PropEquity, the average price of a residential apartment in Navi Mumbai has increased to ₹1.2 crore, driven by demand from homebuyers and investors.
Developers like Hiranandani Group, Larsen & Toubro, and Mahindra Lifespaces are launching new projects to cater to the growing demand, with over 10,000 new units expected to be launched in the next quarter. The boom is also driven by the growing demand for commercial spaces, with companies like Infosys and Wipro setting up their offices in the region.
The Navi Mumbai Municipal Corporation has also announced plans to develop a new business district, which is expected to further boost the real estate market. Thane and Panvel are also witnessing a similar trend, with property prices increasing by 10% and 12% respectively.
