Resale properties most preferred in Kamothe, Navi Mumbai

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One of the rapidly developing micro-markets of Navi Mumbai, Kamothe in the West remains a preferred choice of realty stakeholders on the back of seamless connectivity, proximity to the upcoming international airport and Central Mumbai and multitude of residential opportunities.

Developed and maintained by the City and Industrial Development Corporation of Maharashtra (CIDCO), Kamothe is located along the Sion-Pavel Highway and is the third node after Panvel and Kalamboli towards Mumbai. The strategic location of the micro-market has acted as a key benefactor in its real estate evolution over the years. Presently, the locale is a hub of reputed real estate developers such as Bhoomi, Parshavnath, Shapoorji Pallonji, Shivam and Aansh, offering a host of residential opportunities to people from all walks of life. Besides, the commercial and industrial exposure in the neighbouring pockets has also altered the realty dynamics in the micro-market

kamothe, Navi Mumbai

 

 

 

 

 

Source- Capital values are an average of the listings posted on 99acres.com

Real estate flats in Kamothe

“Resale properties dominate the housing market in Kamothe. Limited land parcels coupled with reduced carpet size in newly constructed properties, shifted homebuyers’ attention to the secondary market. Mid-sized 2 BHK units priced between Rs 65 lakh and Rs 1 crore with built-up area varying from 850 sq ft to 1,300 sq ft garner more traction followed by 3 BHK and 1 BHK units,” avers, Milind Shedage, a Kamothe-based real estate agent, Royal Real Estate.

The locale comprises 48 sectors, of which Sectors 25, 35 and 36 are sought-after on account of their proximity to Khandeshwar railway station that offers direct connectivity to Nerul, Sanpada, Ghansoli, Airoli, Vashi, Thane, and Panvel. Moreover, the sectors are systematically developed opposite to other sectors, allowing more access to open space and natural sights.

Commercial developments

Kamothe adjoins the Central Business District of Belapur (CBD Belapur) and is surrounded by Kharghar (11.7 km) in the North, Taloja (11.4) in the northeast, Kalamboli (6.2 km) in the East and Panvel (4 km) in the South. Nearness to key commercial and industrial nodes of the city has provided immense popularity to the micro-market. Most of the working professionals prefer Kamothe owing to its smooth connectivity network and competitive property prices as compared to locations mentioned above.

Some of the noted IT parks located within the radius of 17 km include BSEL Technology Park, Vishwaroop IT Park and International InfoTech Park.

Infrastructure and connectivity

Nearness to Sion-Panvel Highway (19 km), Jawaharlal Nehru Port (JNPT) (30 km), Chhatrapati Shivaji International Airport (CSIA) (37 km), Panvel Bypass (14 km), Mumbai-Pune National Highway (55 km) and Khandeshwar Railway Station (5 km) unravels area’s hassle-free road, rail, air and water connectivity.

Kamothe is a self-sufficient locality with excellent options available in academics, healthcare centres, and entertainment. Some of the noted schools in the micro-market include Shankarrao Chavan Vidyalaya, MNR School of Excellence and Indian Institute of Aerospace and Engineering. Numerous hospitals and malls that have added to the area’s eminence include Om Sai Hospital, Dr Patil’s Life Care Hospital, Apollo Nursing Home, Mahalaxmi Mall (Kamothe), Fountain Square Mall (Kharghar), and Raghuleela Mall (Vashi).

Future potential

“Average weighted property prices in Kamothe have reported a 6-8 percent hike, YoY. In the last five years, average property rates in the micro-market have surged from Rs 5,050 per sq ft to Rs 6,800 per sq ft, denoting approximately 35 percent growth in the average weighted capital prices. Except for a marginal downswing in the capital prices during demonetisation in November 2016, and in the succeeding quarter, average weighted capital ‘asks’ in Kamothe have showcased a steady uptrend,” shares Yatindra, Real estate agent, Yatindra Enterprises.

 

The trend is likely to grow in future with the upcoming Navi Mumbai International Airport (NMIA) located 14 km from Kamothe. Besides, Kamothe’s inclusion in the CIDCO’s Smart City project is also expected to transform the area’s real estate scenario and boost the average property prices to the tune of 15-20 percent.

 

 

 


Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.


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