Upmarket Ulwe

Famously quoted as the node city of Navi Mumbai, Ulwe on the tip of land. This city is famous for its port and the activities happening there. Although the old port is a kind of depilated state, smaller vessels carrying vegetables and other perishable goods are the ones that predominantly use the port of Ulwe. Once very famous for its vast spread of Mangrove forest, the city has slowly moved into its urban nest, in turn, destroying most of the green cover. Ulwe’s market skyrocketed in price after a new airport was proposed out of this city. The proposed Nerul-Uran railway line, Metro project development, Mumbai Tran harbor sea link (Nhava-SewriSealink) are all only going to be adding more value to properties in this locality.

A coastal expressway connecting Ulwe with Seawoods is proposed to happen soon. The transformation of Ulwe from a drowsy suburb into a realty hotspot in only a short span of five years is absolutely wonderful. Improved and maintained by the City and Industrial Development Corporation of Maharashtra Limited (CIDCO), Ulwe is a hub of the city of Navi Mumbai. It is strategically located at practically a stone throw distance for many CBDs in Navi Mumbai and this proximity is working for the favor of real estate developer. Though the speculation prices in Ulwe seem to throw the people seeking for property into confusion, experts believe in the next 4 to 5 years when all the infrastructural projects in the pipeline have completed this area will bring back all the return for investments in no time.

The location has some strong economic advantages such as the SEZ and proposed international airport. It is part of the second set of nodes to be developed by CIDCO the city authority in charge of development of Navi Mumbai. Ulwe is fast catching up area in Navi Mumbai. The average rate for commercial is Rs. 5000 – 5500 per sq ft. Ulwe is best location n Navi Mumbai when looking at long-term investment. Ulwe in Mumbai has registered a capital appreciation of 10 per cent in the prices of residential space during the last two years. As the government handled infrastructural projects are getting delayed without a specific deadline, it has created a lot of uncertainty amongst buyers. Owing to the turbulence in the market and delays in the completion of infrastructure projects, a majority of buyers are opting for ready possession flats or those properties in Ulwe that are almost nearing completion.

The current price trend for property in Ulwe is anywhere around Rs. 6,000 to 6,500 Over the next 12 months the prices for properties in Ulwe are expected to appreciate about 15%. When considering about investing into a property in Ulwe, experts recommend following the wait and watch practice as that will help to observe when the market stabilizes and will also give investors a cushion of resale or rental market. Despite the latest positive developments, the infrastructural development has been slow, with poor planning resulting in delays and cost escalations in numerous projects. Nevertheless, this could be the right time for people waiting on the sidelines to invest in a property in Navi Mumbai.

Source: http://EzineArticles.com/9630066


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