As overcrowded as the ‘city of dream’ is, so is the scenario of residential accommodations of Real Estate in Mumbai. Since the main city of Mumbai is already full up to the brim, people have started moving towards the suburban regions. One popular location that has attracted great attention is Navi Mumbai. The locality covers a pretty big area and enjoys proximity to the commercial hubs of Thane, Dombivali and Panvel.
Last year, the City and Industrial Development Corporation (CIDCO) freed about 4750 acres of land for the development of residential units which was earlier under the government authority for building hospitals, public gardens, etc. Only a part of the total land is allocated to the private builders for providing accommodations to people. The coming of new international airport near Panvel is another reason for Navi Mumbai’s realty boom. [Read more…]