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Business Wire IndiaBack in 1970s, Mumbai, the city that never sleeps, found its infrastructure bursting to its seams while accommodating the burgeoning population. In order to ease the resulting strain on Mumbai’s confined space; construction of a planned city was envisaged. The city was expected to be the model of both architectural finesse and state-of-the-art urban planning. The result has been the city of Navi Mumbai: a meticulously built satellite city of Mumbai metropolis, a planned development- with sustainable infrastructure.
Development of Navi Mumbai:
The city of Navi Mumbai has been the brainchild of Adi Kanga, a civil engineer. With as distinguished a name in the field of architecture as Charles Correa on board as the Chief Architect, 'City and Industrial Development Corporation (CIDCO)' initiated the development of around 16,000 hectares of land to the north-east of Mumbai. Divided into 14 nodes, Navi Mumbai has been flourishing since its inception due to a robust growth in residential, commercial and industrial real estate.
Connectivity to Mumbai and Pune:
Situated at a distance of 127 kms. from Pune along the Mumbai-Pune Express Highway and merely 25 kms from Mumbai, Navi Mumbai is proving to be an attractive growth location for the business as well as housing sector.
The metro-city enjoys smooth connectivity through the routes of rail and road at various destinations like Panvel, Kalamboli, Kharghar and Nerul. Mumbai’s Chatrapati Shivaji International Airport is 30 kms away. With the Navi Mumbai International Airport at Ulwe near Panvel expected to be functional by 2020, Navi Mumbai will be the hotbed for an unprecedented growth and development. The flurry in the real estate sector has already been on the rise since the government has approved the plans for the airport and demarcated the land for proposed development under the name of Navi Mumbai Airport Influence Notified Area (NAINA). In addition, the Marina will enable travel via hovercraft from the Island city of Mumbai to Navi Mumbai.
The Growth Trajectory:
Apart from the development of the international airport, the following major infrastructural developments are going to radically transform the landscape of Navi Mumbai:
Addition of about 8 million sq. ft of office space to the existing 18 million sq. ft. of operational office space.
The south of Navi Mumbai is going to be developed as an environmentally efficient smart city in a Rs. 34,000 crore smart city project announced by CIDCO.
A business district twice the size of BKC over 120 hectares, known as BKC II, is under development at Kharghar. This will lead to creation of numerous jobs and business opportunities in the vicinity.
The Mumbai Trans Harbour Link (MTHL), the longest sea bridge in India, of around 22 km will connect Sewri in South Mumbai to Nhava Sheva in Navi Mumbai.
Navi Mumbai Special Economic Zone (SEZ) is being developed over around 2,000 hectares of land in Dronagiri, Ulwe and Kalamboli.
As a result of the above-mentioned projects, Navi Mumbai is now becoming a thriving commercial and industrial hub, seamlessly connected with Mumbai, the commercial capital of India and Pune, the newfound IT hub.
Real estate in Navi Mumbai is on a high growth trajectory. One of the large commercial developments by L&T is Seawoods Grand Central mall which is 1 million sq. ft. in size and managed by international groups like Blackstone. This draws strong comparison to large format malls in Mumbai's Phoenix Mall in Lower Parel.
On the residential side, Adhiraj Constructions has built Navi Mumbai’s first 55 storey skyscraper in a 40-acre mega-township located near proposed BKC-2, and Kharghar Central park.
Infrastructure is the key to a locality as is seen in Nariman Point, BKC and recently Chembur. Navi Mumbai, under a professionally run body like CIDCO is set to see unprecedented development and growth.
Website - https://capitalcity.adhiraj.co.in/