Affordability without connectivity means nothing
Delay in the CSMT-Panvel elevated corridor and Panvel-Virar corridor has got the real estate market in Navi Mumbai worried. Affordability without connectivity is going to be of no help to real estate, they say. According to a recent report, more than 80,000 1bhk flats were launched in Raigad (Navi Mumbai area comprising of Panvel, Kharghar, Khopoli, Taloja, Dronagiri, Karjat, and Neral belt) in last one year. Of these, around 22,000 flats were booked. 2bhk and 1 room kitchen apartments too were high in demand. Haresh Chedda, president of CREDAI-BANM, a real estate body of Navi Mumbai, said that without connectivity affordability has no meaning. "This will turn these estates into ghost towns. People won't stay here if it takes them two to three hour to commute. Also, across the Mumbai Metropolitan Region, Panvel is the only place that has the scope of growth in terms of affordable homes," said Chedda.
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