Destination next: Dronagiri

Mumbai

After the inauguration of the Belapur to Kharkopar railway line, Dronagiri has emerged as one of the most sought-after destinations for those looking to make a sound investment in affordable housing.

Ulwe is the most developed node closest to the proposed Navi Mumbai International Airport (N M IA) and real estate prices there have already hit the saturation mark, say experts. This is why the price needle hardly moved on the eve of the Seawoods-Kharkopar railway line’s launch.

The next ulwe?

The Ulwe line technically has introduced only two new stations – Bamandongri and Kharkopar. The actual realty high is expected in the railway line’s second phase that will extend to Uran City – right next to N M IA. This phase will have five completely new stations and is a technical challenge as it cuts through a protected forest reserve.

The next affordable haven Dronagiri lies second last on this pivotal transport project – just before Uran City. Currently, this suburb in terms of roads, connectivity and liveability is what Uran was five years ago.

Price projections

Many developers, who have been in Navi Mumbai since its inception such as Arvind Goel, president of MC H I, feel that the current price gap between Ulwe and Dronagiri will be covered in the next two years. “Dronagiri will be what Ulwe is today, in another two years. Going by the rate of progress towards Uran, I feel that we have two years of affordable housing in this area,” he says. Ulwe and even Dronagiri have failed to attract township projects like those seen in the outskirts of Panvel, where the mere proximity of the airport has caused the prices to steadily rise in the same period. “There is hope that the railway line will get extended in the next two years. Currently, there is a gap of Rs 2,000 to 2,500 between Ulwe and Dronagiri that might be covered in this period, depending on other factors.”

Rajesh Mehta, property asset advisor and a local of Uran, feels that Dronagiri is now the next go-to destination as Ulwe is no longer affordable. “A 2-BHK in Ulwe has reached anywhere between Rs 80 lakh and Rs 1 crore, so it is no longer affordable to those who were late to the party. Now, Dronagiri is the next best thing, and technically, it will be the last station as most of Uran City railway station (where the airport will be built) will get commercialised,” he says.