An affordable hub: Neral

Mumbai

Once known only as a stopover for Mumbaikars on the way to Matheran, Neral has today emerged as a real estate destination in its own right.

Located near Karjat on the way to Pune, Neral was once a picnic destination where Mumbaikars would alight from the Cental Railway line to board the bus, taxi or toy train to the verdant mountain ranges around Matheran. Not anymore! Situated over 50 km by railway and nearly 75 km by road from the city centre, Neral is home to some of the most promising real estate projects in the affordable housing category. With improving connectivity through multiple infrastructural projects, Neral provides access to all the upcoming peripheral business districts such as Kalyan, Belapur and Vashi. As it stands today, this area provides ample choice of properties for small families, migrants to the city and first-time home-buyers, both for self-use and as an investment. Leading developer Shailesh Puranik, Managing Director, Puraniks Builders Limited, says, “The SEZs in Navi Mumbai and the commercial hubs in Belapur and Vashi have opened up several avenues for job seekers who wish to stay close to their work. All these factors will propel employment generation, which will lead to an influx of migrants, thus creating demand for real estate. With this, there is a need to upgrade the infrastructure to complement the real estate projects.

The Panvel-Karjat local train network will reduce travel time from Navi Mumbais CBD to the international airport. Additionally, a proposed new state highway from Panvel through the Matheran hills to Neral via Bheemashankar Mountains to Chakan is presently underway, which will reduce the travel from Panvel to Karjat by 21 kms as opposed to the current 42 kms. The proposed Mumbai Trans Harbor Link between Sewri and Nhava Sheva (near Panvel) will reduce the distance by 20 km.”

With current prices ranging around Rs 2,500-4,000 per sqft, Neral is indeed the affordable housing hotbed in the years to come.