CREDAI-BANM mega property exhibition: Multiple opportunities beckon home seekers

CREDAI-BANM mega property exhibition: Multiple opportunities beckon home seekers

Multiple opportunities beckon home seekers at the 21st edition of the CREDAI-BANM mega property exhibition being held from April 7-10, 2023 at CIDCO Exhibition Centre, Vashi

Sheetal S PatilUpdated: Friday, April 07, 2023, 07:25 PM IST
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At the inauguration ceremony of the 21st edition of CREDAI-BANM mega property exhibition being held from April 7-10, 2023 at CIDCO Exhibition Centre, Vashi, there was an unspoken question, which has interestingly never come up at any of the previous 20 editions either. Nobody has ever asked the reason why one would want to own a residence in Navi Mumbai and with good reason.

During the past two decades, year after year, the Builders Association of Navi Mumbai, which has played a leading role in developing a smarter city in Navi Mumbai, and its officer bearers have always focused their efforts on highlighting the ever-growing list of multiple advantages that Mumbai’s equally high-profile counterpart offers to those who wish to reside here.

Established in 1972 as Mumbai's twin, it encompasses a vast area of 344 square kilometres and has progressed by leaps and bounds since then. Be it the systematic nodal development by CIDCO with wide roads and well-established social as well as transport facilities, its dedicated water source thanks to the Morbe dam owned by the NMMC, along with the numerous noteworthy infrastructure projects in various stages of completion, Navi Mumbai is truly an ideal destination for home seekers across segments.

In a similar vein, the CREDAI-BANM Property Expo 2023 showcases the endeavour of making Navi Mumbai a 360° ‘smart’ and ‘swachh’ city. With over 100 properties showcased in one convenient location, a wide array of home buying options to suit every budget and preference including affordable housing, residential and commercial properties, and second homes or plots, there is scope to gain crucial insights on ongoing, upcoming and completed projects under one roof. Let’s look at some of the key projects that will continue to drive Navi Mumbai’s growth story going forward.

Mumbai Trans Harbour Link

The Mumbai Trans Harbour Link is a massive infrastructure project that will connect Mumbai with Navi Mumbai, consisting of a six-lane highway and two cable-stayed bridges spanning over the Mumbai Harbour. It is estimated to cost around Rs 17,843 crore and is expected to reduce travel time between Mumbai and Navi Mumbai by over an hour, easing congestion on existing routes and providing an alternate route for heavy goods vehicles. The project is being executed by the Mumbai Metropolitan Region Development Authority and is expected to be completed by 2023, providing better connectivity and accessibility for economic growth and development of the region.

Kharghar Turbhe Tunnel Rd

The Kharghar-Turbhe Tunnel Road is an infrastructure project that aims to provide a direct and seamless connection between Kharghar and Turbhe, two areas in Navi Mumbai. The road is being constructed as a tunnel under the Parsik Hills and is expected to significantly reduce travel time between the two locations. The project is estimated to cost around Rs 1500 crore and will consist of a four-lane tunnel road spanning over 2.07 kilometres. This project is expected to provide significant relief to commuters who currently have to take a longer route to travel between Kharghar and Turbhe. The project is being executed by the Maharashtra State Road Development Corporation and is expected to be completed by 2023. Once completed, the Kharghar-Turbhe Tunnel Road is expected to provide a boost to economic development and growth in the region by improving connectivity and accessibility.

SEZ

SEZ Navi Mumbai spans over 2,000 hectares and offers a wide range of incentives to businesses, including tax exemptions, duty-free imports, and streamlined regulatory procedures. The SEZ is designed to promote industrial growth and attract foreign investment, with a focus on sectors such as IT, electronics, and engineering. It is strategically located close to Mumbai, the financial capital of India, and has easy access to major ports, airports, and highways, making it an attractive destination for businesses looking to set up operations in India.

Navi Mumbai International Airport

The Navi Mumbai International Airport is an upcoming greenfield airport in Navi Mumbai, Maharashtra, India. It is being developed by the Government of India's City and Industrial Development Corporation (CIDCO) in partnership with the GVK Group. The airport is spread over 1,160 hectares and will have two parallel runways capable of handling 80 aircraft movements per hour. It is expected to handle 10 million passengers per year when it first opens and eventually expand to 90 million passengers annually. The airport is expected to play a crucial role in boosting commerce and trade while meeting the growing demand for air travel in Mumbai and its surrounding areas, and is scheduled to become operational by 2024.

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