October 16, 2013

Ulwe: An Emerging Destination in Navi Mumbai

Ulwe is a new node of Navi Mumbai, planned, developed and maintained by City and Industrial Development CIDCO. Located in the Raigad district, this area is an emerging locality and is a favourite among investors and developers; which is resulting in the demand for Ulwe properties.
Some time ago, Ulwe was a small village dedicated mainly to agricultural and fishery. Now, this village has transformed into a residential locality with the real estate value skyrocketing by an average of 30% annually over the past five years.

Connectivity and Transport

Ulwe: An Emerging Destination in Navi Mumbai

Commuting to and from Ulwe has become easy and convenient by using the main modes of transport, that is, bus and train. The nearest rail station is Wadala railway station from where commuters can use either the harbor line or the western line to commute between Ulwe and Chatrapati Shivaji Terminus (CST). As this railway station is very close to the upcoming Ulwe projects, that it has become the best choice for the residents of flats in Ulwe. To the relief of the residents, Navi Mumbai Municipal Transport (NMMT) is providing buses that originate from Kalamboli and Gansoli and passes via Ulwe to locations like Navghar, Uran, Bokadveera, Karal Junction, etc. Ulwe is a good residential choice, as it connects to some of the major roads of Mumbai:
  •     Mumbai-Pune Expressway – distance of 2 km
  •     Palm Beach Road - distance of 2.5 km
  •     Apart from these, there are various other commutation mediums that are being planned across   Ulwe, they are:
  •     Navi Mumbai Airport
  •     Seawoods-Uran railway line
  •     Trans-Harbour link - Sewri to Chirle village
  •     Proposed Bamandongri railway station – a suburban railway line
  •     Monorail and Metrorail project at Wadala

Education, Health Care and Entertainment

Ulwe is planned and developed by CIDCO and has big players like Reliance who owns around 4300 acres of Ulwe properties and are interested in developing state of art residential and commercial complexes along with development of premium schools, hospitals and other social facilities. Some of reputed educational institutions found in and around Ulwe are, DAV Public School, Radcliffe School, Tilak Public School, Delhi Public School, Bharati, A .C. Patil College of Engineering, Bharati Vidyapeeth College of Pharmacy and Bharati Vidyapeeth College of Engineering.
Hospitals like Dr. Singh’s City Hospital, MGM Hospital and Research Centre, Seawoods Hospital and Medical Research Centre and Metro Hospital are found near to this realty hot-spot.
The fact that it is just a few km away from Nerul and Kharghar is an added advantage as residents are able to access places like Inox, Central Park, Blue Apple and Apna Cinema which are the best available options for entertainment. There is no dearth of eating joints here. Good eateries like McDonald’s, Domino’s Pizza, Bimal Paratha House are housed here. In fact, this node satisfies all the requirements that a homebuyer looks for, hence it is ideal to invest in properties in Ulwe.

Real Estate in Ulwe

Ulwe, an emerging destination has several reasons to be on the top of the realty investment destination list. The upcoming Navi Mumbai Airport, proposed rail connectivity, sea link and the availability of large parcel of lands has created a demand for Ulwe real estate. Beside these, the proximity to Bandra-Kurla Complex (BKC), Eastern Express is adding value to this locality. Another important reason is the affordable prices when compared to the high prices in the neighbouring localities that have led to the demand for property in Ulwe.

Witnessing the plethora of infrastructure activities, a good number of builders are flocking to this emerging real estate hub. Some of the ongoing projects in Ulwe are Progressive Icon by Progressive Group, Balaji Castle Apartment by EMKAYEN Group, Ganesha Sai Kutir by Ganesha Constructions and Priyanka Unite by Priyanka Builders & Developers. Currently, builders are concentrating on residential houses consisting 1BHK and 2BHK configuration, multi-storey apartments and single floor apartments. People who want to construct individual house can opt for residential plots.
Price Trends

The highest locality price for flats for sale in Ulwe is Rs. 4900 per square foot and the lowest locality price is Rs. 4800 per square foot. The average locality price is Rs. 4800 per square foot and the return on investment is witnessing a decrease of 3% q-o-q.
However, the prices for residential plots are skyrocketed. The highest locality price is approximately Rs. 170000 per square yard, lowest locality price is Rs. 39000 per square yard and the average locality price is Rs. 140000 per square yard.
The average price for commercial shop will cost around Rs. 8000 per square foot depending on the location.
Investing in Ulwe is a good decision as in the next one year; the property prices may see a rise of at least 8-10% with guaranteed good returns.