Hike In Mumbai Land Rates: Homes costing Rs 13 lakhs surge to Rs 70 to 80 lakhs

Mumbai is considered as the financial capital of India. Many projects are currently under construction in Mumbai such as construction adjacent to Navi Mumbai International Airport Palm Beach, Sewri, Nhava Sheva Sea Link awaiting inauguration, Nerul Uran Railway Line, and the proposed IT Park.

Due to this reason, the land prices here have skyrocketed. This area has developed rapidly in the last 20 to 25 years. Due to the rapid development of projects here, there is a huge demand for land here.

Along with Navi Mumbai, the prices of plots in Raigad district are also predicted to see a big demand in the future. Due to the Shivdi Nhava Sheva Jal Marg, the land prices in Uran Pen, and Panvel in Raigad have increased significantly.

A renowned real estate agent said that the difference between the rates 20 years ago and now has grown amazingly.

A flat of 13 lakhs has now fetched a price of 70-80 lakhs due to the new projects. Over the last few years, the road and rail network in Maharashtra has been greatly expanded. This new project is increasing the transport and communication facilities.

At the same time, the attention of the citizens of the entire Uran and Navi Mumbai area was on when the railway line from Kharkopar to Uran, which has been stalled for the past 26 years, would be completed.

PM Narendra Modi inaugurated many development works on January 12.

Disclaimer: Content taken from Pune Pulse E-Newspaper