‘Gudi Padwa 2023 will boost property sales’: NAREDCO Neral Karjat

From affordable housing to land plots and luxury villas, Neral Karjat offers a wide range of property

Mumbai 3.0 incorporates ‘Affordable City’, a value add for home buyers

MUMBAI 16 MARCH 2023: For home seekers looking for the home that meets different parameters, Mumbai 3.0 a.k.a. Neral-Karjat-Panvel-NAINA, arguably, offers the widest segmentation of property options, be it affordable housing; luxury villas or plots of land. “This Gudi Padwa should see a huge segment of property buying, given the festive fervor which will add to the property buying sentiment across Mumbai 3.0,” said Dinesh Doshi, President, NAREDCO Progressive Neral-Karjat, the Neral-Karjat chapter of the apex real estate industry body – NAREDCO.

“Growing urbanization creates the need to not just to provide cheap houses, but also to provide the infrastructure associated with it. This is what we at NAREDCO Progressive Neral-Karjat see as the future – ‘Affordable City’ – where the focus is on developing a carbon neutral region with proper infrastructure and connectivity to multi-nodal points which offers smooth connectivity to the residents. This is the feedback we are getting from potential buyers who have visited project sites over the past few months; we expect most of these to go ahead and actually buy this Gudi Padwa,” he added.

Gautam Thacker, Chairman, NAREDCO Progressive Neral-Karjat said the authorities are taking all necessary steps to provide necessary infrastructure for growth of this region. “The authorities are developing infrastructure, knowledge-based industries and research centers around the Neral- Karjat region. In sync with this, the government has also taken up various infrastructure projects, which make Neral-Karjat among the most promising locations to buy or invest in property this Gudi Padwa” said Gautam Thacker.

While MTHL will shrink the distance to SoBo; the passenger railway line connecting Panvel and Karjat will ensure ease of travel and connectivity. The Alibaug-Virar Multi-Modal corridor and the Bhimashankar Highway will change the centre-point in the region; and property in Neral-Karjat will witness price appreciation in the coming months – which makes this Gudi Padwa the right time to invest in or buy for personal use, property in Mumbai 3.0,” he added.

Anand Doshi, Hon Secretary, NAREDCO Progressive Neral-Karjat mentioned a report by NAREDCO-Knight Frank, titled ‘Brick by Brick: Reimagining Affordable Mumbai’. The report, which was released during the ‘Manthan – Affordable City’ Initiative organized by NAREDCO Progressive Neral-Karjat in October 2022, points to the Mumbai Metropolitan Region (MMR) having a significant demand-supply gap when it comes to affordable housing. “According to the Report, the MMR registered high demand for affordable housing units through 2022, with 67% of the demand being registered for units less than Rs 25 lakh. The demand for housing units in the range of Rs 25 – 50 lakh was recorded at 13% and units above Rs 50 lakh at 20%. “Neral Karjat has offerings across projects which can easily meet these requirements,” explained Anand Doshi. From the affordable home seeker to the mid-range home to luxury villas this region offers what is arguably, the widest range of property in the MMR,” explained Anand Doshi.

“The Mantra to meet growing demand for affordable housing is Affordable City. The authorities are creating more infrastructure; law makers are supporting this development with focus on supporting carbon-neutral industries, which will go a long way in ensuring proper development of Mumbai 3.0,” he said.

Real estate is largely sentiment-driven; festivals are an apt example of the same. Some festivals are seen to be enhancing the positive sentiments which result in home buying; Gudi Padwa being one of those, said Hitesh Chaudhary, Hon. Treasurer, NAREDCO Progressive Neral-Karjat. “Historically, real estate sales witness higher numbers during the festival of Gudi Padwa, and this reflects in the importance that real estate gives to the festival,” he added.

 “Enhanced connectivity will drive economic growth and jobs in the region over the next year; Neral-Karjat is shaping up to become an education hub with JIO University and XLRI University leading the big names, even as the region develops as a carbon neutral industry hub – add to these agro-tourism, which ensures sustainable and eco-friendly development,” he said. “These are factors which make Neral-Karjat among the best options to invest or buy property in this Gudi Padwa,” concluded Hitesh Chaudhary.