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|Area Watch: Mumbai-Kopar Khairane|
|Articles - Mumbai|
|Tuesday, 17 January 2012 13:05|
Koparkhairane is a node in Navi Mumbai and was built on reclaimed land by City and Industrial Development Corporation (CIDCO) in 1986. A project aided by the World Bank was launched here in the early 1980’s and ever since this ‘node’ has been developing at a fast pace. One can see people from all income groups living here.
A lot of important offices such as the Millennium Business Park (MBP) are located here. MBP is home to a lot of software consulting companies such as L&T Control & Automation Unit, Patni Computer Systems, L&T Infotech, Mastek Ltd, 3Di Systems etc. This locality is easily accessible from all sides hence a lot of people prefer to invest here.
Just like property rates in Navi Mumbai, the rates in Kopar Khairane are also increasing. A primary reason for this hike has also been the recent announcement by Reliance Industries for building the biggest corporate house in the world in this locality. A huge piece of land here lies in the Reliance kitty and will soon be home to this much awaited corporate tower.
REAL ESTATE MARKET SCENARIO
Rental rates in Koparkhairane have seen a hike since 2008, since then they have been very stable. The rentals in this area for a 1, 2 and 3 and 4 BHK fall within the range of INR 14000, 16000, 18000 and 30000 respectively. The rentals depend on the location and number of rooms in the house, in case there is a parking space available, the rent can go up as well. A commercial outlet can be rented at a price of INR 20 psf to INR 60 psf, a shop in the area can be leased within the range of INR 3 lakh and more.
As far as the psf rates are concerned the rates shot up in 2009. Current psf rates range between INR 3000 to 7000. Of the many sectors, sector 11 is the costliest since most of the new real estate development is happening here. There are a few famous residential societies in Kopar Khairane, namely Balaji and Kalash Udyan. One can purchase a house with 1, 2 and 3 BHK here within the range of INR 34 lakh, 51 lakh and INR 1 crore.
The price can vary if the number of rooms increases, if there is parking space then that will be an added advantage. The area also has some commercial outlets for sale, the psf rates are INR 4500 to INR 8000 and a number of shops are up for sale. In case the shop is close to the main road it will be priced at a high rate compared to the ones in the side lines of Kopar Khairane.
Residents of this area have access to a number of schools and hospitals making it a comfortable living experience, the locals don’t have to go anywhere far to fulfill their basic needs.
According to Shailesh, Proprietor Sahil Consultancy, “Koparkhairane is growing at a fast pace and when it comes to business opportunities, this area has a lot to offer. As a locality, Kopar is quite self sufficient as it does not rely on its neighbouring areas for anything, the number of schools and hospitals in the locality prove to be sufficient to cater to the needs of the residents. For the youngsters, there are a number of places to simply hang around; these could be new eating joints such as Star Cafe, Varishta, Pancha Ratna and Food Junction, Arabian kitchen that has just opened up”.
A developing node, Koparkhairane is the right place to invest as the societies are new and have all basic amenities. With its fast growing infrastructure, Koparkhairane will soon be the area with a huge demand from buyers. A lot of developers such as Prithvi builders, Swaraj builders and Sunpreet developers have a strong hold in the real estate market here. A lot of new projects are coming up in the area within the range of INR 80 lakh to 1 crore.
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