Prime Objectives of the unit:
· To propel the infrastructure development in the region
· To enhance water supply and its availability in residential sector
· Policy level resolution on river red line/blue line issues
· Over 10000 affordable homes to be unlocked from 100+ members
Mumbai, 5th July 2021: NAREDCO Maharashtra, the Maharashtra chapter of NAREDCO, the apex national body of real estate industry today announced the launch of their new unit in the State, NAREDCO Ambarnath-Badlapur. This has led to the creation of an affordable housing stock of over 10000 homes from their 100+ members associated with this unit. This is expected to unlock the affordable housing properties and offer a great opportunity to the discerning homebuyers to buy RERA registered properties at affordable prices in Ambarnath and Badlapur region. Apart from this, the prime objectives of this new unit will be to propel the infrastructure development in the region, to enhance the water supply and its availability to the residential segment along with the policy-level resolution on river red line/blue line issues.
Due to its proximity to the upcoming Panvel-Badlapur highway, Metro connectivity via Thane, the area is expected to absorb the future growth in population, business and commercial activity in the region. The region is being speedily developed with modern infrastructure including basic civic amenities like schools, banks, hospitals, Municipal Council, post office, water supply and the markets nearby which has enhanced the real estate development there.
Speaking during the launch, Mr. Ashok Mohanani - President, NAREDCO Maharashtra said, “We are happy to announce the launch of NAREDCO's new unit in Ambarnath-Badlapur. This will open up new affordable housing inventory for the prospective homebuyers who are looking to buy their dream home. Under NAREDCO's umbrella, the homebuyers too will have a sense of trust and confidence. It will also boost the Government's policy of creating ‘Housing for All by 2022’.”
The infrastructure development in the leading metro cities has improved connectivity to peripheral destinations, thereby, bridging the gap between the cities and the peripheries. On the other hand, projects such as the metro rail, ring roads and highways, etc., offer improved connectivity to the existing city establishments and are more suitable to the immediate needs of budget-conscious home buyers.
As much as 58% of around 149,000 homes launched in 2020-21 are located in the peripheral areas of the top seven property markets, showed data from Anarock Research. In 2019-20, the share of new launches in the peripheral locations was around 53% of about 207,000 homes launched in these cities. Out of the total units launched in 2020-21, MMR had 67% supply coming from such peripheral locations.
Commenting on the occasion, Mr. Ajay Thanekar, President, NAREDCO Ambarnath-Badlapur unit said, “The Ambarnath-Badlapur region offers reasonably priced properties to buyers as compared to other locations in Mumbai and Navi Mumbai. The location has several affordable properties on offer for buyers in the lower-income segment and is witnessing huge interest from end users and investors alike. Also, owning a residential apartment with natural beauty and serenity, far away from pollution is a dream home for every aspiring individual in the Mumbai city. At the time when real estate prices have undergone correction, this region with its upcoming infrastructure, scenic environs and affordable pricing can bring the homebuyers' dream come true.”
The inauguration of the new unit took place in the presence of NAREDCO’s senior leaders such as Dr. Niranjan Hiranandani, National President, NAREDCO; Mr. Rajan Bandelkar, Vice Chairman, NAREDCO Maharashtra; Mr. Sandeep Runwal, President Elect, NAREDCO Maharashtra; Mr. Prashant Sharma, Secretary, NAREDCO Maharashtra; Mr. Kamlesh Thakur, Joint Secretary, NAREDCO Maharashtra; Mr. Maulik Dave, Joint Treasurer, NAREDCO Maharashtra along with the office bearers from Ambarnath-Badlapur region - Mr. Sambhaji Shinde, Secretary, NAREDCO Ambarnath-Badlapur unit; Mr. Laxman Vispute, Mr. Swami Darwin and Mr. Sanjay who are the Members of the NAREDCO Ambarnath-Badlapur unit.
The Ambarnath-Badlapur region has witnessed tremendous growth over the years on account of its proximity to Mumbai. It is also well connected to Dombivli, Thane and Kalyan. The region has a cosmopolitan ambience and draws several professionals here on account of the low prices. There will always be sizable demand for real estate here since people will continue seeking affordable homes in the locality and employment prospects will be boosted hugely. Ambarnath-Badlapur and its surroundings are not only a beautiful place for home but also a major tourist destination with several resorts, dams, temples along with waterfalls & hills that are the major attractions during the monsoons. Spacious areas and pleasant environment are the main reasons people are investing in properties there to enjoy their weekends or rent their properties for secondary income. These are factors that will keep the growth momentum of the region intact over the next few years. It is expected to witness handsome appreciation in the future in terms of property rates.