Mumbai's Karjat Emerges As An Affordable Housing Hub

Urban homebuyers' growing aspirations for an attractive location away from bustling city life is one key factor that influences developers' strategy to explore realty developments near tourist locations.

In case of Mumbai, several localities such as Alibaug, Neral, Lonavala and Khandala are coming up as bright real estate hotspots. Flanked by the Western Ghats, Karjat is also a popular tourist getaway and weekend destination. The Karjat-Neral belt is mostly known for offering lavish vacation homes and sprawling farmhouses. The locality has now emerged as an affordable housing destination. Located in Raigad district near Navi Mumbai, Karjat qualifies for housing purpose owing to good connectivity to Panvel, Thane and Pune as well as quality social infrastructural facilities sprouting in its neighbourhood.

PropGuide explores the promising features of Karjat real estate market:

Opportunities for contemporary lifestyle

Owing to the large influx of tourists, the hospitality sector here is flourishing. Luxury resorts and hotels are available in plenty. In addition, ample entertainment and leisure options such as recreation centres, restaurants and clubs. Facilities like pharmacies, convenience stores and healthcare centres are also present. Reputed educational institutions viz. engineering, management, medical, agricultural and research institutes are also situated in proximity.

Moreover, Pune's IT hubs and industrial pockets in the neighbourhood boost Karjat's real estate market by providing employment opportunities. Also, the pleasurable climate and scenic beauty of Karjat just adds the much-needed zest to residents' living experience.

Connectivity to nearby towns

A part of a Mumbai Metropolitan City, Karjat has smooth access to railway station, airport and important road networks. Karjat railway station is directly linked to Chhatrapati Shivaji Terminus Mumbai, Khopoli and Panvel. Mumbai-Pune Express Highway, Mumbai-Goa Highway and Mumbai-Nasik Highway are key corridors that bring Karjat closer to other localities of Mumbai. Besides, the hilly town is well-connected via state highways such as Karjat-Kalyan Highway, Karjat-Murbad Highway and Raigad District, Kharghar. An international airport (Navi Mumbai International Airport) is also coming up in the vicinity. Other developments include:

• Proposed launch of Neral-Bhimashankar highway, four-lane State Highway 38 (from Chowk to Karjat) and State Highway 54 are major growth drivers for the region
• Development of a trans-harbour link, sea overbridge between Sewri, Mumbai and Navi Mumbai is underway. This expected to curtail the commuting distance from Karjat to other areas.
• Mumbai Metropolitan Region Development Authority (MMRDA) has proposed a new suburban rail network in the area which will extend up to Rasayani, Pen and Roha in Raigad district by 2036.

Investment options in Karjat

Karjat is a paradise for buyers looking for spacious homes at affordable prices, that too overlooking verdant landscapes. Average property prices in the area is Rs 3,236 per sq ft. 1BHK homes are available as low as Rs 16.93 lakh, residential plots at 19.46 Lakh and 2BHK apartments for Rs 27.8 lakh. There is also availability of high-end villas, farm residences and similar luxury housing projects. All the projects are equipped with the finest amenities that provide a world-class lifestyle for buyers.