luxury ulwe
Famously cited as the node city of Navi Mumbai, Ulwe at the tip of the earth. This city is famous for its port and the activities that take place there. Although the old port is somewhat of a state of demolition, the smaller vessels carrying vegetables and other perishables are the ones that make efficient use of the Ulwe port. Once very famous for its vast expanse of mangrove forest, the city has slowly moved into its urban nest, in turn destroying most of the green cover. Ulwe’s market price soared after a new airport was proposed outside Ulwe. The proposed Nerul-Uran railway line, the development of the Metro project, the Mumbai Tran port sea link (Nhava-SewriSealink) will only add more value to the properties in this locality.
It is proposed that a coastal highway linking Ulwe to Seawoods be built soon. Ulwe’s transformation from a sleepy suburb to a real estate hotspot in just a short span of five years is absolutely wonderful. Improved and maintained by the Maharashtra City and Industrial Development Corporation Limited (CIDCO), Ulwe is a city center of Navi Mumbai. It is strategically located practically a stone’s throw from many CBDs in Navi Mumbai and this proximity is working in favor of the real estate developer. Although the speculation prices in Ulwe seem to confuse people looking for a property, experts believe that in the next 4-5 years, when all the infrastructure projects in the pipeline have been completed in this area, they will bring back all the return of the investments in a very short time.
The location has some important economic advantages, such as the SEZ and the proposed international airport. It is part of the second set of nodes to be developed by CIDCO, the city authority in charge of Navi Mumbai development. Ulwe is a quick recovery area in Navi Mumbai. The average rate for the trade is 5,000 to 5,500 rupees per square foot. Ulwe is the best location in Navi Mumbai when looking for a long term investment. Ulwe in Mumbai has seen a 10 per cent capital appreciation in residential space prices over the last two years. As government-run infrastructure projects are delayed without a specific deadline, it has created a lot of uncertainty among buyers. Due to market turbulence and delays in the completion of infrastructure projects, most buyers opt for flats in immediate possession or those properties in Ulwe that are almost completed.
The current trend of property prices in Ulwe is between Rs 6,000 and Rs 6,500. Over the next 12 months, property prices in Ulwe are expected to increase by 15%. When considering investing in property in Ulwe, experts recommend following a wait-and-see practice as this will help to see when the market stabilizes and will also provide investors with a resale or rental market cushion. Despite recent positive developments, infrastructure development has been slow, with poor planning leading to delays and cost increases on many projects. However, this could be the right time for people waiting on the sidelines to invest in a property in Navi Mumbai.
