Top 5 Localities To Rent A Home In Navi Mumbai

If Mumbai’s real estate slipped out of the reach of the common man, Navi Mumbai could only be thankful. People are moving towards this comparatively affordable suburb in search of property as well as rented accommodations. If its affordability was not doing the trick, Navi Mumbai’s emergence as the commercial hub certainly did – the area hosts the Mumbai Metropolitan Region’s second central business district (CBD) at Belapur. Demand for property has grown manifold consequently, and so has the demand for rental real estate.

In case you would like to get a piece of this pie and invest in Navi Mumbai to generate handsome rental income, we take you through the localities where the demand is the highest. It would also be helpful to those who are planning to find accommodation in the area. 

Kharghar

 Livability score: 8.1

 Average price: Rs 8,949/sqft

 Average rent: Rs 23,000/month

 Planned by the City and Industrial Development Corporation (Cidco), Kharghar is one of the most popular localities, thanks to its proximity to the CBD. Also, several educational institutes have come up in the vicinity which attracts the student population in the area.

The offering: The locality has a majority of 2BHK and 3BHK apartment units, builder floors as well as independent housing units.

Ghansoli

Livability score: 8

Average price: Rs 11,535/ sqft

Average rent: Rs 20,000/ month

Ghansoli not only lies close to the IT hub in Airoli, it also overlooks mangroves. This perfect blend means living here comes at a premium.

The offering: The area has largely fully-furnished 1BHK and 2BHK apartments. According to makaan.com data, there are over 200 ready-to- move-in and 18 under-construction projects.

Airoli

Livability score: 8.3

Average price: Rs 11,693/sqft

Average rent: Rs 25,200/month

 Located next to Ghansoli, Airoli, too, is one of the preferred areas for people working in the IT hub for obvious reasons. This area is particularly apt for people who plan to raise a family. There are a number of good international schools in the area.

The offering: The area mostly offers 1BHK and 2BHK. There are a number of residential projects nearing completion.

Panvel

Livability score: 7.6

Average price: Rs 7,046/ sqft

Average rent: Rs 15,097/ month

If affordability is your prime criteria, you have reached the right locality. Since this satellite town is still in a developing stage, renting here is comparatively cheaper, and so are the property prices. In times to come, Panvel would emerge as a self-sustained area flaunting everything a homebuyer could seek.

How so? The in-the-works Navi Mumbai International Airport is not very far from here.

The offering: Majority of the projects here are ready to move. 

Ulwe

Livability score: 7

Average price: Rs 7,622/sqft

Average rent: Rs 12,200/month

Located on the other side of the Panvel Creek, Ulwe is one of the Cidco-planned localities that gained prominence because of the proposed Nhava Sheva-Sewri Link Road (also known as the Mumbai Trans Harbour Link Road) and the upcoming Navi Mumbai Airport.

The offering: The area has a number of ready-to- move-in residential projects, available in 1BHK, 2BHK and 3BHK configurations.

*Livability score is calculated based on presence of neighborhood amenities like restaurants, schools, hospitals, public transportation, etc.