New realty hubs are emerging on the outskirts of MMR

As the edges of the Mumbai Metropolitan Region expand, expect to hear more about places like Karanjade, Boisar, Dronagiri and Shahad. These are regions benefiting from proximity to popular micro-markets like Panvel and Vasai-Virar. Infrastructure is also contributing to the boost, whether the upcoming Navi Mumbai airport, trans-harbour link, high-speed rail route or, on a more localised level, social infrastructure such as malls, multiplexes, hospitals and schools. “We expect to see sustained growth in these micro-markets as the urbanisation trend moves outward,” says Prashant Thakur, head of research at Anarock Property Consultants. Karanjade, for instance, is halfway between Mumbai and Pune and just a few kilometres from the upcoming Navi Mumbai airport. “These factors make it a hot investment option for Mumbaiites,” says Rushabh Vora, co-founder and director of the SILA real-estate advisory. “Developers from the Satyam Group and Kamdhenu have projects in Karanjade. It is also connected to important junctions like Panvel, Kopar and Vadgam.” Well-rounded social infrastructure including schools, banks and hospitals, and easy connectivity to Mumbai and Navi Mumbai, have helped. “Karanjade has more than 2,080 units ready to move into, at a going rate of Rs 4,700 to Rs 6,500 per sq ft, according to our data,” Thakur says. On the flip side, water supply continues to be an issue. Boisar, meanwhile, is benefiting from its proximity by rail to Mumbai on the one hand and Ahmedabad on the other. As new developments go up and demographics start to change, automobile showrooms are opening up here, as are hypermarkets and multiplexes. “Boisar will offer greater connectivity once the bullet train project kicks off. One of its stations is Boisar,” says Sanjay Dutt, CEO of Tata Housing, which has a project here called New Haven.