Bhupendra Shah, the dynamic chairman and managing director of Bhumiraj Group, leading developers and builders aggressively bats for affordable housing offers in the city of Navi Mumbai. He believes that this feature of the city is responsible for its progress and development and its buoyant real estate market.
Shah who is also Chairman Trustee Board of Builders Association of Navi Mumbai cites a report by ANAROCK Property Consultants and CREDAI – Navi Mumbai – City of Possibilities’ to confirm his claim. The report states that around 80% of the overall residential project launches in Navi Mumbai in the recent past have been in the affordable (< Rs 40 lakh) and mid-segment (Rs 40 lakh – Rs 80 lakh) budget range.
Asks Shah, “Why do you think that when the real estate market in MMR region is going through a tough time, the developers in Navi Mumbai are announcing new and grand projects. The reason is that they do not have much stock left. Less than 15% of the houses in the city are unsold and that is a great state of affairs.”
He added, “The reason for this excellent sales report is that the buyers are getting affordable and mid-segment budget houses that they can afford. Many are selling their houses in Mumbai and purchasing flats here. They get a new modern house and also a bank balance from the balance money of their Mumbai flat sale.”
Explains Shah, “There are cheap flats in some areas in the region, but they have little to offer in terms of infrastructure and amenities. It is like shifting to a concrete slum and the buyers who are used to a decent life and looking forward to increasing their quality of life do not want to go to an area which does not offer this.”
He added, “Now look at Navi Mumbai. Apart from quality homes that fit your budget, the civic infrastructure is world class and that is why the city has been ranked amongst the best in the country over the years.”
Stated Shah, “Navi Mumbai ranks 6th in Ease of Living ranking among 111 cities in India. It is 2nd in Maharashtra leaving behind by a distance Greater Mumbai, Thane and many prominent tier II cities as well as other metropolitan cities that have existed for years.”
According to Shah, “Apart from the existing civic infrastructure and amenities, the city is on the threshold of progress like never before. Look at the mega projects coming up in the region. The international airport, a Special Economic Zone (SEZ), metro, MTHL, water transport to name just a few.”
According to Shah, “CIDCO that developed Navi Mumbai has ensured all round progress through business opportunities and also environment care. Top corporate houses here co-exist with green belts. Where else do you have 45% of the available land as gree zone?”
Concluded Shah, “There is no place like Navi Mumbai in the entire country to invest and reside in. It is a complete package here which no other region can beat.
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