Mumbai
Neral today is boasting of a township equipped with all the amenities available at one's disposal.
In the last decade, Neral has undergone a massive transformation and is turning rapidly into a developing city. Once known as an area that lacked infrastructure and connectivity, today, it boasts of residential township, hospitals, schools and social infrastructure, thus making it one of the fastest developing districts for housing. Many migrant families from areas like Dadar and Parel, have bought houses in Kalyan because of the connectivity and affordable flats available in the area. Ragini Mhatre, who works in the hospitality sector, says, “I have bought a 2-BHK apartment in this area at a price that I would get a 1BHK apartment in Kharghar. The lush green environment as well as proximity to office, which is situated in Panvel are benefiting factors.“
Pushing towards growth
Talking about the area and new developments, Bhavin Patel, MD, Tulsi Estates says, “Neral is the next big residential hub after Badlapur and Kalyan on the same rail track. Many affordable projects are coming up in this area, given its easy connectivity to Mumbai via the road-rail network.“ Also, the state government of Maharashtra has initiated several mega infrastructure projects, which will catalyse the growth of property in Karjat and Neral. This, in turn, has and will push real-estate projects in the region to develop low-cost residential property in Karjat.
The potential of these projects is immense, as the corridor is poised to be a real-estate hub. Some of these projects are like the BadlapurKarjat road where the highway is being developed into a 4-lane highway and KarjatMurbad road where the highway is being developed as a part of the Virar-Murbad-KarjatKhopoli-Alibaug outer ring road. Prabhat Ranjan, CMD, Olympeo Infrastructure Pvt Ltd says, “The area is well-connected with industrial and commercial areas of Kalyan to Badlapur by roads and the Mumbai suburban rail network. The Ambernath-Badlapur region has four industrial areas (4 MIDC) where it is home to nearly 1,000 big and small companies. Apart from this, there are three central government establishments falling under the Ordnance Factory Board and Defence Research Development Organisation (DRDO). In near future, Ambernath is expecting about 1,200 pharmaceutical companies in the MIDC area. All these factors will propel employment opportunities in the region, thus further creating the demand for real estate in the surrounding locations like Neral-Karjat.“ Recent studies on the property market of the area, which encompasses Karjat, Neral, Shelu and Khopoli, predict that prices are expected to double by 2017.
Source - MB
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