Navi Mumbai developers light up with infra-projects nearing completion

With a number of important infrastructure projects nearing completion, developers from Navi Mumbai are eying to encase these developments during the festival season. The projects nearing the finishing line include water transport, Belapur-Uran suburban train network, MTHL and the Navi Mumbai metro.

The Builders Association of Navi Mumbai (BANM) claims that ready possession units are available and home buyers who were waiting owing to the pandemic are now making enquiries. With this renewed interest, builders are offering many a deal sweetener.

The City and Industrial Development Corporation (Cidco) has already received the dynamic clearance certificate from the Ministry of Telecommunications for phase 1 from Belapur to Pendhar section. The planning agency also expects to start the commercial operation of Metro by the end of the year after getting the pending clearances. Similarly, the jetty at Nerul is almost ready and ferry services will possibly start after Diwali.

In addition, the Mumbai Trans-Harbour Link (MTHL) will be operational by October 2023 as 52 per cent of its civil works have been completed. The MTHL will connect Mumbai with Navi Mumbai’s Ulwe node, which is also near to the proposed Navi Mumbai International Airport (NMIA). The Belapur/Nerul-Uran train service is also likely to start by September 2022. At present, the train service is available up to Kharkopar (Ulwe).

BANM president Haresh Chheda said fence-sitters are showing interest and the rate of interest on home loans is also very attractive for home buyers. Dr Niranjan Hiranandani, MD, Hiranandani Group, said Panvel is all set to be the ‘hot and happening’ real estate hub in Navi Mumbai’s periphery.