Neral scores high on affordable housing

Neral today is boasting of a township equipped with all the amenities available at the doorstep of its residents.

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 premium and luxury housing.

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.

Some of these projects are like the Badlapur-­Karjat road where the highway is being developed into a 4-lane highway and Karjat­-Murbad road where the highway is being developed as a part of the Virar-Murbad-Karjat-Khopoli-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 Organization (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 encompass Karjat, Neral, Shelu and Khopoli, predict that prices are expected to double by 2017.

The resident's checklist

There is also a big demand for developments, which provide amenities such as schools, restaurants, hospitals, ample parking space, among others. Ateev Gala, executive director Vijay Group, says, "Many home-buyers are looking at the area as a first home destination. The reason is that any area which is closer to Mumbai Metropolitan Region (MMR) cannot stay as a second home destination for a long time. The infrastructure has improved in the past few years due to its increased connectivity and good transportation facility." Also, many well planned townships with good social infrastructure are coming up in the area. Besides, amenities like a regular supply of water and popular food joints, open parks and libraries, have also become a feature of the area.

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