Nerul

Nerul and its adjoining area Seawoods (which can be considered an extension of Nerul) lie between Navi Mumbai’s main business districts of CBD Belapur and Vashi, which made it an attractive option for those working in these locations. Nerul, similar to CBD Belapur and Vashi, is among the best connected nodes of Navi Mumbai. It lies between both of Navi Mumbai’s arterial roads, the SionPanvel Highway and the Palm Beach road. A number of BEST and NMMT buses ply to and from Nerul and Seawoods, connecting these areas to other parts of Navi Mumbai, Mumbai, Kalyan and Thane.

Nerul – A much in demand real estate hotspot in Navi Mumbai

Last updated on January 26, 2017 by Manish Kumar

In any discussion on the real estate destinations in Navi Mumbai, Nerul is sure to be among the first places to come up. It is a much sought-after premium residential address, which has attracted many people from other parts of the Mumbai Metropolitan Region. Developed by the City and Industrial Development Corporation (CIDCO), Nerul has emerged as a major residential and educational center and is looking to become a commercial hub as well. In this article, we assess this node and the attractiveness of real estate in this important node. Location Nerul and its adjoining area Seawoods (which can be considered an extension of Nerul) lie between Navi Mumbai’s main business districts of CBD Belapur and Vashi, which made it an attractive option for those working in these locations, which in turn, pushed housing demand. Nerul is separated from CBD Belapur by the Parsik Hill, which overlooks both these nodes. Nerul, in …

Nerul – A much in demand real estate hotspot in Navi Mumbai

In any discussion on the real estate destinations in Navi Mumbai, Nerul is sure to be among the first places to come up. It is a much sought-after premium residential address, which has attracted many people from other parts of the Mumbai Metropolitan Region. Developed by the City and Industrial Development Corporation (CIDCO), Nerul has emerged as a major residential and educational center and is looking to become a commercial hub as well. In this article, we assess this node and the attractiveness of real estate in this important node.

Location

Nerul and its adjoining area Seawoods (which can be considered an extension of Nerul) lie between Navi Mumbai’s main business districts of CBD Belapur and Vashi, which made it an attractive option for those working in these locations, which in turn, pushed housing demand. Nerul is separated from CBD Belapur by the Parsik Hill, which overlooks both these nodes. Nerul, in contrast to many other nodes in Navi Mumbai, does not have a uniform topography, with some hilly regions too forming part of this node.

Nerul and Seawoods can also be easily reached from other industrial centers in Navi Mumbai such as Airoli, Kopar Khairane, MIDC Taloja, in addition to the Bandra-Kurla complex, Chembur and Ghatkopar in Mumbai. In addition, more recently, much of the housing demand here has come about due to the numerous educational institutions opening here as well as some large commercial complexes coming up in the area.

Connectivity

Nerul, similar to CBD Belapur and Vashi, is among the best connected nodes of Navi Mumbai. It lies between both of Navi Mumbai’s arterial roads, the SionPanvel Highway and the Palm Beach road. This ensures that one can easily travel from here to other parts of the Mumbai Metropolitan Region (MMR), as well as other outstation destinations such as Pune, Lonavala, Goa etc. On the flip side, traffic jams are a common occurrence during peak hours, particularly on the Sion-Panvel Highway.

A number of BEST and NMMT buses ply to and from Nerul and Seawoods, connecting these areas to other parts of Navi Mumbai, Mumbai, Kalyan and Thane. This node also has a good internal road network, due to its organization into sectors and plots. However, when it comes to internal last-mile connectivity, using auto-rickshaws or one’s private vehicle is a preferable option as the frequency of buses on these routes is relatively less and some internal roads are too narrow to allow buses to ply smoothly.

Nerul has not one, but two stations on the Harbour line of Mumbai’s suburban rail system: Nerul and SeawoodsDarave. Both these stations convey a large number of residents to and from their workplaces daily. Nerul is directly connected by train to Mumbai, as well as Thane. In addition, construction of a new line from Seawoods-Darave to Nhava-Sheva is underway, which will link this node to JNPT port.

Seawoods Grand Central commercial complex above Seawoods-Darave station
Seawoods Grand Central commercial complex above Seawoods-Darave station

Today, when discussing about Nerul (or Navi Mumbai for that matter), it is customary to mention the impact of the upcoming mega projects of the Navi Mumbai International Airport and the Trans-Harbour Link, connecting JNPT to south Mumbai. These projects promise to bring plenty of employment opportunities and development in their wake and Nerul, being in the neighbourhood, is expected to benefit as well. It is likely to attract plenty of commercial real estate investment as a result, due to improved connectivity and lower land rates, as compared to south Mumbai.

Social Conveniences

Nerul and Seawoods bear the stamp of CIDCO’s top class planning and execution, with well laid out streets and numerous places for social interactions. This area has a number of parks and gardens for people to work out or hang out. The most prominent among these are the Rock Garden, Mata Amritanandamayi Math Grove and Wonders Park, which contains miniature replicas of the 7 wonders of the world. Other popular places frequented by residents include the Nerul Lake, with a long walking/jogging track along its perimeter and the Parsik Hill.

Nerul Lake
Nerul Lake

Nerul also boasts of some of the best educational institutions in Navi Mumbai. Top notch schools such as DAV School, DPS Navi Mumbai, MGM High School and Podar International School are present in this thriving node. Similarly, a number of quality higher educational institutions have their campus here, which include DY Patil University, SIES College and Terna Engineering and Dental College. DY Patil University’s campus contains the DY Patil Sports Stadium, which has hosted a number of top level sporting events such as the IPL and ISL.

Podar International School in Nerul
Podar International School in Nerul

Nerul and Seawoods abound in healthcare providers, the most prominent being DY Patil Hospital, Raj Hospital and Seawoods Hospital. The node has major shopping centers such as D-Mart and malls such as Haware Mall to cater to residents’ shopping needs. An upcoming landmark in this area is Seawoods Grand Central, a massive 40 acre commercial, retail and hospitality complex located above Seawoods-Darave station, which is likely to add immensely to the attractiveness of the area.

Housing profile in Nerul and Seawoods

Nerul and Seawoods are premium housing destinations, with the most expensive complexes being the ones along Palm Beach Road, largely due to the sea view offered by them. While the internal areas have older low rise structures, most apartment complexes coming up are skyscrapers, which is a testament to the relative paucity of space in the area. The average base price for a multistory apartment in Nerul is ~Rs. 12,200/sq. ft., while for Seawoods, it is only marginally lesser at ~Rs.11,000/sq. ft. It is unlikely for one to get a 1 BHK apartment for less than Rs. 50 lakh and a 2 BHK for less than a crore. These high prices are a function of the development these areas have seen, as well as the heavy demand for apartments.

As an example, one can consider the NRI Complex next to the DPS School in Seawoods, built by the BG Shirke Group. This complex offers 1, 2 and 3 BHK apartments, with amenities including cafeteria, library, broadband internet and tennis and badminton courts. A 1 BHK here will set one back by ~Rs. 89 lakh, with the starting prices for a 2 BHK and 3 BHK apartments being over Rs. 2 crore and Rs. 3 crore respectively.

A similar picture emerges if one considers the rental rates in these areas, which is an average of Rs. 25/sq. ft. in Nerul and Rs. 24/sq. ft. in Seawoods. For a real estate investor, it is probably more worthwhile to invest in commercial, rather than residential real estate here, as the possibilities of getting good returns is higher.

Upcoming projects

Laxmi Icon is a single tower project by the Laxmi Group, which is located in Seawoods and comprises 2 and 3 BHK residences, built upon commercial establishments. Amenities for residents will be on the podium level and include a children’s play area, swimming pool, gymnasium and a jogging track.

Laxmi Icon complex in Seawoods
Laxmi Icon complex in Seawoods

Not too far from Nerul station is the Majestic Heights complex, being built by the Dhanraj Group. This too is a single tower project and has 2 and 3 BHK apartments, with facilities for residents such as a walk in closet, fireplace, video door phone and intercom. Apart from this, the developer will also provide amenities such as a business center, an indoor games zone, aerobics and yoga zone and even concierge services.

Tricity Developers are coming up with two projects in Seawoods next to each other, called as Tricity Panache and Tricity Palazio. While Tricity Panache will be a G+15 tower comprising of 1 and 2 BHK residences, Palazio will be a G+13 tower with 2 and 3 BHK residences. The developer has promised amenities such as a badminton court, cricket net, yoga hall and a jogging track on the top floor.

Conclusion

Nerul and Seawoods are a reflection of the real estate market in Navi Mumbai, which has seen a steady price appreciation, due to its development and the demand this has led to. For someone who can afford an apartment in these areas, it is a truly rewarding decision with good infrastructure and connectivity already in place and plenty of positive developments on the way.




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One Reply to “Nerul”

  1. I Want 1 Bhk Or 2 Bhk Flat For Residence With Affordable price With Provide Job Also Bcoz I Have Not Any Others Income Source Job Provide Is Necessary Which Party Provide Job Will Be Given 1 St Preference

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