Changing Scenario

Mumbai is India’s most modern city and undoubtedly crowned as the financial capital of a country that is aspiring to become an economic superpower of the new world.  While it’s also known as world’s gateway to India, the country’s premier city is fast emerging as an International Financial Center of a globalized world.

It is a known fact that Massive Urban agglomerate spread across the Mumbai Metropolitan Region is the largest in the country. The change in the economic activity has thrown up unprecedented opportunities and enabled increased in work force. With ever increasing pressure of growing population with limiting spatial expansion of the city to its natural boundaries, the growth trajectory is pushed horizontally.
The development with allied infrastructure especially real estate market can be broadly classified into following growth phases

Administered by the Brihanmumbai Municipal Corporation (BMC) (formerly the Bombay Municipal Corporation) with Mumbai Metropolitan Region Development Authority (MMRDA) as the apex body for the planning and development, Mumbai Metropolitan Region (MMR) is spread over an area of 4,355 sq. km. with population over 24 MN.

While Island city houses central business district and home to large number of corporate head quarters, the residential pockets are costliest in the city.

The western zone has commercial activities with BKC and NSE in the hub, places like Juhu and Bandra are most sought residential areas but command highest property prices in this zone.

The northern region has decent social and physical infrastructure. While distant suburbs provide affordable housing options but they are not self-sustainable with respect to employment opportunities.

The development inputs could not keep pace with the rapidly growing population, industry, trade and commerce. Physical limitations to the growth of the city built on long and narrow peninsula, which had very few connections with the mainland. Because of lack of horizontal growth there is challenge to drive the residential markets. Conducive environment with better living conditions for heavily dense population in Mumbai may be achieved but affordability is the concern.

The region especially city’s real estate market has grown in the north-east direction, predominantly, Navi Mumbai.

CIDCO (City and Industrial Development Corporation) India’s premier town planning agency is the development body entrusted for planned development and has created Navi Mumbai – Largest Planned City in the World.

CIDCO’s planned development has provided fillip to the growth in the urban environment , it has reduce the growth of population of Mumbai city by creating a center that would absorb immigrants, and also attract some of Mumbai’s present population by providing a physical infrastructure which prevents ethnic enclaves among the population.

Click here for highlight of CIDCO’s Navi Mumbai

With world’s largest ”greenfield” state-of-the-art Navi Mumbai International Airport (NMIA) coming up at Kopra-Panvel, CIDCO has been considered as Special Planning Authority for NAINA (Navi Mumbai Airport Influence Notified Area ) to develop and regulate the influence zone including transport network to avoid unplanned haphazard growth around the proposed airport.

The Navi Mumbai International Airport has a huge boost to commerce and employment generation potential. It is estimated that the airport will generate 1.42 lakh new jobs directly, along with another 2 lakh jobs on an indirect level.

To know more about NMIA, click here

The adjacent infrastructure development includes

Further, the major proposals for enhanced connectivity for NMIA includes

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The boost to industrial development in turn, would assure steady revenue to the investors and attract further investments in the region. Employment generation in the service industry will feed the growth of residential markets in the zone.

Location like Navi Mumbai especially peripheral of Panvel offers a practical solution for the residential requirements. Our project locations are adjacent to largest development authority in the world CIDCO. We are even nearer to the world’s largest planned city on the planet, Navi Mumbai