BUYING A HOME AT KARJAT

FPJ BureauUpdated: Sunday, June 02, 2019, 08:59 AM IST
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K arjat is a part of the Mumbai Metropolitan Region ( MMR) and is located in Raigad District. It is popular as an extended suburb of Mumbai and Navi Mumbai, with a population of 182,482.

” With several engineering, pharmacy, mass media and

advertising institutes driving it economically, Karjat is also the home of the hill station Matheran and several treks, including Bhimashankar,” says Subhankar Mitra, Local Director – Strategic Consulting at global property consultancy Jones Lang LaSalle India. ” It is a beautiful, scenic and hilly hamlet which is centrally located and directly connected by roads branching out to Murbad, Kalyan, Shahpur, Kasara Ghat on one side and Khapoli, Khalpur, Neral, Ambarnath, Badlapur, Panvel and Pen on the other side. The entire Karjat- Kasara belt is dotted with farmhouses and agricultural fields.” Karjat is one among the most preferred weekend destinations for residents of Mumbai, Pune and other urban areas in close proximity.

The availability of land parcels at low rates has made it conducive for affordable housing, and it now caters to the residential requirements of the LIG and MIG segments. The prevailing capital values for residential projects across micro- locations in Karjat range from Rs. 1500- 3500/ sq. ft.

” Villa development in Karjat has seen least improvement in terms of supply and absorption trends as compared to other typologies,” says Mitra. ” The fastest- selling residential formats are 1 and 1.5 RK, 1, 1.5, 2 and 2.5 BHK flats. Some of the larger high- end projects and those in advanced stages of construction have been quoting a rate between Rs. 3500- 5000/ sq. ft. after the announcement of International Airport.” Among the more prominent residential projects currently under construction at Karjat are Tanaji Malusare City, Griha Shakti and Skyline River Side.

Disha Direct has recently launched a 14 acres second home project alt39 Landmarc Silver Screensalt39 at Karjat along the Karjat- Murbad National Highway.

Karjat is also an upcoming film city with backof some of the famous films.

Today, it is home to Big Studios and two other leading production houses which have announced their plans to set up their studios in close vicinity. The town has to its benefit the accessibility of road and rail and urban future developments including International Airport, Panvel SEZ, Navi Mumbai SEZ which will lead to a high value of land appreciation over the next 3- 4 years.

” The picturesque Karjat valley is a popular film shooting destination with new production units planning to set up their studios here. The close proximity to Mumbai and upcoming developments makes Karjat a promising investment destination for upscale investors, celebrities and people desirous of soulful second homes” says Santosh Naik, MD & CEO of Disha Direct Marketing Services Pvt. Ltd.

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