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In Navi Mumbai, a Plot Was Sold For An All-Time High of Rs. 554,000 per square meter

In Navi Mumbai, a Plot Was Sold For An All-Time High of Rs. 554,000 per square meter

Plot Was Sold For An All Time High In Navi Mumbai Rs. 554,000 per square meter

The main reason Navi Mumbai was built was to accommodate the city of dreams’ expanding population. The areas and localities of Navi Mumbai are either well-developed or developing quickly, which makes the city a great investment location for investing in Land and Plots that could potentially yield excellent appreciation. A planned satellite city of Mumbai, Navi Mumbai is located on the western coast of Maharashtra, India. It is currently the world’s largest planned city. The explosive growth plans the govt has for Navi Mumbai will undoubtedly be advantageous to land investors. The demand for Navi Mumbai’s real estate market is skyrocketing due to planned projects and people gradually moving to these areas. Although Navi Mumbai costs are currently lower than Mumbai costs, they may increase over the coming years.

Last week, The Navi Mumbai real estate market was ignited when one of the 28 plots offered for sale by the City and Industrial Development Corporation (Cidco) sold for a record-breaking Rs 554,000 per square metre. The reserve base price set by Cidco at Rs. 114,000 per square meter was more than five times this amount.

The winning bidder was Dinesh Pasoria of DPVG Ventures. The best seafront lots on Palm Beach Road are all gone except for this one. It fetched a record price because of this.

Conclusion

Put Navi Mumbai among the top cities on your list if you’re investing in land and plots in 2023 and looking for higher returns. In fact, investing in land and plots in Navi Mumbai can yield handsome returns in the coming years.

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