Affordable Housing in Navi Mumbai

Are you looking for affordable housing in Navi Mumbai? Then we are glad you are on the right track. The city offers excellent budget-friendly housing options making it a perfect choice for 1st time buyers and investors. Besides, various options for new construction in Navi Mumbai low budget homes with modern amenities make Navi Mumbai a real estate hotspot. Be it Panvel, Taloja, Kharghar, Ulwe, or Airoli, there are numerous emerging affordable housing localities in Navi Mumbai that promise excellent connectivity and growth opportunities to residents and professionals. This blog will acquaint you with the top 10 affordable housing options in Navi Mumbai.

Top 10 Affordable Housing Localities in Navi Mumbai

Your search for budget-friendly flats in Navi Mumbai can end up in any of these top 10 affordable housing localities:

1. Panvel: The number-one affordable housing locality in Navi Mumbai is Panvel, which is well-connected with Central Mumbai and other major parts of Navi Mumbai through its excellent network of train and bus services. A majority of properties available in Panvel are on a rental basis, making it an excellent option for investors. The upcoming Navi Mumbai International Airport is expected to enhance the appeal of this place further.

Average Price of a 2 BHK in Panvel: Starting at Rs. 25 lakhs

2. Taloja: The second most affordable housing locality in Navi Mumbai is Taloja, which is divided into Phases 1 and 2. Best known for its exceptional mix of industrial and residential developments, Taloja is not only well-planned but also offers easy access to Mumbai and other parts of Navi Mumbai. This locality is expected to experience a real estate boom due to the upcoming Taloja Metro Station.

Average Price of a 2 BHK in Taloja: Starting at Rs. 67 lakhs

Suggested read: Affordable Localities in Chennai

3. Kamothe: Although a developing locality, Kamothe is still attracting those interested in investing in affordable housing. Thanks to its excellent connectivity via the Sion-Panvel Expressway and the Mumbai-Pune Expressway. The best thing about Kamothe is that it has its own railway station, which is well-connected to the Harbour Line of Mumbai’s suburban railway network.

Average Price of a 2 BHK in Kamothe: Starting at Rs. 61 lakhs

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4. Nerul: When listing the best housing localities in Navi Mumbai, we can’t forget to mention Nerul, which boasts excellent educational institutions, green spaces, and improved infrastructure. It is a perfect locality for those looking for a serene, calm, and safe place to live in. Nerul is also a hub for various popular shopping centers and hospitals.

Average Price of a 2 BHK in Nerul: Starting at Rs. 70 lakhs

5. Dronagiri: Located at the southern tip of Navi Mumbai, Dronagiri spreads across 1,250 hectares of land. It is a budding locality in Navi Mumbai where the Maharashtra Government has announced several upcoming infrastructure projects, such as the Nerul-Uran Railway Line. This place is home to several good educational institutions, hospitals, and shopping centers.

Average Price of a 2 BHK in Dronagiri: Starting at Rs. 72 lakhs

6. Kharghar: Counted among the best affordable Navi Mumbai localities, Kharghar lies on the eastern side of Mumbai. At present, it is attracting people who are looking for affordable rental properties in Navi Mumbai. You can find various options of low-rise and high-rise housing options at affordable prices. Moreover, Kharghar is well-connected with Mumbai and other parts of Navi Mumbai via the Asian Highway 47, Panvel Road, Mumbai Highway, and Sion-Panvel Highway.

Average Price of a 2 BHK in Kharghar: Starting at 52 lakhs

7. Ulwe: Ulwe is slowly turning into a hotspot for investment in Navi Mumbai mainly due to its proximity to the proposed Navi Mumbai International Airport. The property prices here are comparatively lower than other developed areas of the city. It is also well-connected to Mumbai via the Mumbai-Pune Expressway, Sion-Panvel Expressway, and Palm Beach Road.

Average Price of a 2 BHK in Ulwe: Starting at Rs. 85 lakhs

8. Karanjade: Karanjade is yet another emerging housing locality in Navi Mumbai that offers many affordable housing options for buyers and real estate investors. Strategically located near Panvel, Karanjade offers a perfect blend of affordability, connectivity, and future growth potential. It provides relatively cheaper homes compared to Panvel, Kharghar, and Ulwe.

Average Price of a 2 BHK in Karanjade: Starting at Rs. 85 lakhs

9. Airoli: Often referred to as the gateway to Navi Mumbai, Airoli is emerging as a preferred choice for buyers and real estate investors. Airoli is best known for its easy accessibility from Mumbai and Thane via the Thane-Belapur Road, the Eastern Express Highway, and the Airoli Bridge. It is home to low-to-mid-rise cooperative housing societies and multi-storey buildings.

Average Price of a 2 BHK in Airoli: Starting at Rs. 56.6 lakhs

10. CBD Belapur: The last locality in our list of top 10 affordable housing locations in Navi Mumbai is CBD Belapur. Home to several high-rise buildings that offer cheap 2 BHK apartments on rent and to purchase, CBD Belapur is a perfect place to opt for residential homes in Navi Mumbai.

Average Price of a 2 BHK in CBD Belapur: Starting at Rs. 22 lakhs

Read read: Home Loan in Navi Mumbai

Why is Navi Mumbai an Attractive Option for Affordable Housing?

This city presents ample options to those looking to invest in cheap flats in Navi Mumbai. Listed below are the key reasons why this city is attracting people from all over India to buy affordable homes:

1. Affordable Housing: The first and foremost reason for people to consider buying a home in Navi Mumbai is its affordable housing. Property prices in this city are comparatively lower than in other major cities of India. Hence, it attracts investors and first-time buyers who are looking for affordable investment options.
2. Improved Connectivity: Secondly, Navi Mumbai is well-connected with all the parts of Mumbai by rail and road. The Mumbai-Pune Expressway conveniently connects Navi Mumbai to Mumbai and Pune, making it easy for anyone to commute between these cities. On top of it, the upcoming Navi Mumbai International Airport is expected to make air travel convenient to this place from anywhere in the world.
3. Growing Industrial Sector: Another big reason for people choosing homes in Navi Mumbai is because it is home to various industrial areas, such as the Navi Mumbai Special Economic Zone (SEZ). Companies from across the globe are investing in this zone, creating several job opportunities and increasing the demand for housing in this region.
4. Upcoming Infrastructure Projects: People are opting for affordable homes in Navi Mumbai because they can foresee the potential of this area after the completion of various upcoming infrastructure projects including a metro line, seaport, and ring road, that will boost the city’s overall connectivity.
5. Enhanced Quality of Life: Being a well-planned and developed city with numerous amenities and the best of education institutions and hospitals, Navi Mumbai is considered a great place to live with family.

Takeaway

The availability of affordable homes in Navi Mumbai has made it a smart choice for homebuyers seeking budget-friendly, well-connected residences. From Panvel to Ulwe, Taloja, and Dronagiri, there are numerous options for affordable flats in Navi Mumbai. So, find your dream home in this beautiful, well-connected, and rapidly growing city near Mumbai.

FAQs about Affordable Housing in Navi Mumbai