Do you know which city is going to be the next big IT Hub of India after Gurgaon, Pune and Bangalore? The name of this city is Navi Mumbai. With competitive rates of real estate and the work of international airport in pipeline, the city stands a good chance at becoming an IT hub. The rents of premium office spaces in the growing pockets of Navi Mumbai are much affordable as compared to Pune where the average rate is Rs 70 per sq ft and Bengaluru where it is around Rs 60-70 per sq ft. In Gurgaon, the rates are even higher. Home seekers say that dream home is still affordable in Navi Mumbai and now commercial tenants are of the same opinion.
There are a number of factors that point towards the future of Navi Mumbai as an IT hub. Let us talk about some of these in detail-
From connectivity point of view, Navi Mumbai is undeniably the best location for commercial development. It is well connected to the business locations of Mumbai like Nariman Point and Chembur via the Eastern Freeway. This has significantly reduced the travel time between South Mumbai and Panvel; the 50 km can now be covered in an hour or so. It will be further reduced if the much anticipated Trans Harbor Link actually comes true. Apart from road connectivity, Mumbai suburban railway has also started reaching out to Panvel from Andheri in Mumbai. Mumbai Metro will also be extended to the area. [Read more…]