We look at the areas located along the outskirts of the Mumbai Metropolitan Region that are likely to be the next growing destinations for real estate and what these regions have to offer
The Mumbai Metropolitan Region (MMR) has witnessed considerable development over the past decade. It has several areas, which have witnessed a sea-change and have become extremely desirable locations to live in. Called the ‘city of dreams’, Mumbai attracts people from across the country, owing to its infrastructure and career options. However, these factors have also contributed to increasing the population of the city and an upsurge in real estate prices. Many areas in Mumbai have reached a saturation level. This has led to the emergence of new micro-markets.
Taloja
Situated off NH-4, Taloja, a node in Navi Mumbai, is witnessing rapid residential and commercial infrastructure development. The MIDC corridor and MMRDA are largely contributing to the locality’s growth. The location is also a part of the upcoming Navi Mumbai Phase 1 metro line – Belapur-Kharghar-Taloja-Pendhar. Taloja enjoys good connectivity due to its proximity to the Mumbai-Goa highway, NH-4 and the Mumbai-Pune Expressway. The location is at a 10 minutes’ drive from the proposed Navi Mumbai airport. The Taloja Panchanand railway station connects the Harbour, Central and Western railway lines. CIDCO’s mass housing development scheme for Taloja, which is at the implementation stage, is expected to change the dynamics of the area and establish Taloja as the largest well-planned township in the country. With more people looking for residences closer to working areas, this location will soon attract other real estate players, as well.
Source:housing news
