In Navi Mumbai, Airoli is a prestigious neighbourhood that is only 20 miles from Thane and Mumbai. There are several business and residential property alternatives available in the area. On the navimumbaihouses.com Reviews and Ratings portal, locals have given the micro-market a 4.5 star rating. Continue reading to find out if making an investment in Airoli is profitable in the long run.
One of Navi Mumbai's upscale neighbourhoods, Airoli is well known for its superior connectivity, close proximity to job centres, and assortment of social amenities. The neighbourhood offers upscale and mid-range residential property alternatives and is located beside Thane-Belapur Road, around eight kilometres from NH-48.
Popular neighbouring communities like Kalwa, Rabale, and Ghansoli increase the area's allure. For individuals considering investing in the real estate market in Airoli, a comprehensive download on the micro-market is available below.
Available options for housing
The social flats and independent residences in Airoli's premium price range make up the housing market. Apartments in Airoli, which make up the majority of the residential inventory, had price growth of about 10% in the previous year. In Airoli, the cost of a property is around Rs 14,000 per square foot. A 1 BHK unit, which makes up more than half of all apartment shares, starts at about Rs 25 lakh.
A 2 BHK flat in the area typically starts at roughly Rs 40 lakh, per the navimumbaihouses listings. Housing societies are available in the area from a number of reputable local developers, including Goodwill Developers, Haware Properties, Raikar Group, and Swaraj Builders. Airoli contributes an average rental yield that is just under 5% year over year. A 1 BHK flat may be rented for anywhere between Rs 8,000 and 30,000 per month.
Commercial property
Shops and offices that are ready to move into are included in the Airoli commercial real estate. The area draws a lot of real estate investors since it is close to various employment areas, including TTC Industrial Area, MIDC Industrial Area, Capgemini Knowledge Park, Gigaplex IT Park, and Mindspace Airoli.
Most of the retail establishments in Airoli are located in Sector-19. In Airoli, the beginning price for a business space is around Rs 11,000 per square foot, or Rs 22 lakh for a 200 square foot space. About 100 square feet of office space cost roughly Rs 30 lakh.
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An Effective Social Infrastructure
One of the main factors boosting the area's favorability is a robust road and rail network. The area has quick access to places like Thane, Vashi, and Nerul thanks to a dedicated train station. The Jogeshwari-Vikhroli Link Road connects Airoli to the Chhatrapati Shivaji Maharaj International Airport, which is around 20 kilometres away.
On the navimumbaihouses Reviews & Ratings website, locals have given Airoli a rating of 4.5 out of 5. Residents liked the "road connection," "presence of parks and greenery," and "the safety element" of the area, although "regular parking troubles" are a problem in this area. Another issue raised by locals is the lack of metro connectivity.
Future developments
To provide greater infrastructural amenities, Airoli has a number of active and planned initiatives. It is anticipated that the Airoli-Katai Naka Freeway, which is now being built, would improve connectivity and lessen traffic jams in the area. Additionally, the future IT cluster in Ghansoli, which is around four kilometres away, is probably good news for the Airoli real estate market.
Due to the expansion of the local infrastructure and the rise in job prospects, Airoli has seen a considerable increase in home values recently. It would be reasonable to predict that Airoli will continue to draw more homebuyers in the future given the impending developments and ever expanding connections. Additionally, the market's rental demand and investment possibilities would be amplified by the new job centres that are planned for the area.
Source From:- navimumbaihouses
