Over 900 Projects For Sale In Neral; New Developments In Pipeline

Over 900 Projects For Sale In Neral; New Developments In Pipeline

Over 900 Projects For Sale In Neral; New Developments In Pipeline

Neral, a small town in Maharashtra situated in Raigad is surrounded by Badlapur and Karjat. A short journey from South Bombay, the town was once a barren land with minimal development. It lacked infrastructure and connectivity and was considered only as a transit point to reach the hill station Matheran.

However, things have turned around for the sleepy town in the past decade owing to the several initiatives taken by the government to boost infrastructure. Neral has undergone a massive transformation and is turning rapidly into a developing city and now boasts of residential township, hospitals, schools and social infrastructure. With its lush greenery, clean air and government’s initiatives to improve infrastructure, developers and homebuyers are viewing Neral as a viable option.

Infrastructure

There is vast scope for further development in the area especially considering its proximity to the new Navi Mumbai Airport. Furthermore, the Panvel-Karjat local train network will reduce travel time from Navi Mumbai’s CBD and the international airport. The potential of these projects is immense, as the corridor is poised to be a real-estate hub. With the upcoming Panvel-Bhimashankar highway, the Neral-Shelu belt will be 40 minutes away from Navi Mumbai International Airport. The upcoming airport has opened up new avenues for commercial development which will also complement infrastructure growth. Neral is also well connected with commercial areas of Kalyan to Badlapur by road and suburban rail network. The Ambernath-Badlapur region has four industrial areas and is home to nearly 1,000 big and small companies. Apart from this, there are three central government establishments falling under the Ordnance Factory Board and Defense Research Development Organisation (DRDO).  All these factors will propel employment generation which will lead to an influx of migrants thus creating demand for real estate in the surrounding locations like Neral-Karjat. All of this has had a cumulative effect on the residential market due to the availability of homes at attractive price points and amenities.

Earlier, the typical buying pattern of homes was limited to factors such as convenience and short commute time; however, with the improving standards of living, customers seek a holistic living experience. They not only look at factors such as accessibility around the location and to major CBDs, airports and station but also educational and healthcare institutions and entertainment facilities. Neral is well equipped with schools and hospitals and there is rapid development in the entertainment area with upcoming shopping malls, supermarkets and theatres.

Residential projects in Neral

With ample natural beauty, Neral is ideal home destination away from the hustle bustle of the city. Over 960 residential projects are up for sale in the locality priced anywhere between Rs 5 lakh to Rs 4.50 crore depending on the property type, whether a plot or an apartment, the size of this development and other determinants. This data has been sourced from Makaan.com.

On an average, plots are priced anywhere up to Rs 20 lakh while 1BHK units may cost you Rs 13-14 lakh. If you are planning on a 2BHK unit, a standard home will cost you Rs 20 lakh. Bigger units such as a 3BHK or 4BHK unit may need you to reserve anywhere between Rs 50 lakh to Rs 5 crore.

The good news for buyers is that between May 2013 to May 2018, prices have been fairly stable. In 2013, the price was at Rs 2,800 per sq ft and after a prolonged period of slump and falling prices, price watchers can see a recovery with real estate prices nearing Rs 3,000 per sq ft on an average.

If you are looking at ready-to-move properties in Neral, there are over 250 projects up for grabs within Rs 4 crore. If you are comfortable heading for a new construction or an under-construction project, there are close to 400 projects awaiting you. Possession may be between 2019 to 2021. Neral has emerged as a preferred residential destination, take your pick from a wide range of choices.

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