The trend of buying affordable homes in & around Mumbai is at its peak! People now emphasise stepping out from the main city to search for a best-in-class living experience at nominal or reasonable pay. Hence, this constant search has led the real estate demand to come to Kharghar, the new real estate hubspot of Navi Mumbai.
Kharghar is on the outskirts of Navi Mumbai and was built by CIDCO (City and Industrial Development Corporation of Maharashtra. CIDCO is also taking responsibility for managing the locality. It is a very well-planned region in Navi Mumbai and has a serene backdrop, which is one of the many reasons people are keen on buying 1 or 2 BHK in Kharghar.
Beyond that, here are some of the other reasons that are contributing towards making Kharghar a popular real estate hubspot of this decade.
1. The Amazingly Planned Transportation and Connectivity Facilities
Mumbai’s Harbour line of the suburban railway network extends the connectivity of Kharghar to several important places such as Nerul, Panvel, and Belapur. Central Mumbai is just an hour’s drive from the locality and consists of a major linking point, Sion-Panvel Highway. This highway links Navi Mumbai and Mumbai within a planned radius of 45 minutes.
Kharghar is also well-connected to various commercial neighbourhoods such as Taloja and Vashi. People who come to work in Mumbai often pick Kharghar for their rental needs due to the easy connectivity to major parts of the city through State transport buses.
The harbour train line also helps people easily move around the city without getting stuck in traffic. ChhatrapatiShivaji International Airport is 35 km away from Kharghar. You will reach the airport in an hour if you take the Eastern Freeway. The SantacruzChembur Link Road, also connects LokmanyaTilak Terminus and Kharghar. Following that, road access to Nashik, Kalyan, Pune, and Thane is also developed efficiently.
You will also get the NMMT and BEST buses that run to/from Sion, Ghatkopar, Dadar, Vashi, and other specified places in the city.
2. Modern-Day Social & Physical Infrastructure
The rise of residential complexes in Kharghar has also encouraged the commercial sector to extend its services and retail stores to this locality. You get world-class schools, hospitals, healthcare centres, recreation centres, etc. Among the top infrastructure developments of Kharghar.
Here are a few of them that contributes towards its real estate demands:
- National Institute of Fashion Technology (NIFT)
- BharatiVidyapeeth Engineering College
- Ryan International School
- Apeejay School
- DAV International School
- Tata Memorial
- Geo Medcare Multispecialty Hospital
- CIDCO Park
- Little World Mall
- Glomax Mall
- Prime Mall
3. Real Estate Pricing Appreciation is Not Going to Slow Down Anytime Soon!
One of the biggest reasons you should buy a 1 or 2 BHK in Kharghar is its constantly rising price graph. Even though buying a house in Kharghar is affordable compared to other localities of Navi Mumbai and Mumbai, the price graph has constantly been rising since the last decade.
The current average pricing of properties in Kharghar is around Rs. 11,000 per sq. ft. The good news is that the price trend has experienced a hike of around 4.5%, gradually increasing year-on-year. Hence, your investment will reap great returns if you sell your property after at least ten years.
So, isn’t it a worthwhile consideration for you to invest in real estate in Kharghar? If you are already convinced, then start looking for your 1 or 2 BHK in Kharghar for sale right away. Blox, your property search engine, will help you find the best house from top developers at the best rates.
4. Set Your Source of Passive Income through Rental Yields
There’s a 7% rental yield upon owning properties in Kharghar. It means that you will get a good rental payout every month, which will be a perfect passive income today and a great earning source upon retirement.
As stated earlier, Kharghar is close to major employment hubs, and people from different parts of India intend to stay in this locality to save some money on rent. So, it will be easy for you to get a tenant and establish a consistent passive source of income. The average rent for properties in Kharghar is around Rs. 29,000 per month.
With these perks and facilities, Kharghar will soon experience a massive real estate boom. Currently, the average pricing is at a nominal rate, but wait till the demand of this locality increases in the forthcoming years. The price will skyrocket, and the home buyers making the investment today will reap the benefits later.
There are massive upcoming developments being planned out for Kharghar, which will play a major role in upscaling its residential and commercial real estate potential. So, if you are looking for a 1 or 2 BHK in Khargharfor sale, Blox will help you filter out the best selections per your preferences.
Just log onto Blox, select your location, set the budget, and choose the property type. That’s it! You can now see specific properties as per your specified selections. Make sure to book a site visit for the property that catches your attention.