Navi Mumbai, formerly known as ‘New Bombay’, is the largest planned city in India, located on the west coast of the Indian subcontinent, in the Konkan region of Maharashtra, the city is divided into two parts; South Navi Mumbai covers the area from Kharghar to Uran are the parts of the Raigad district, and North Navi Mumbai includes Airoli to CBD Belapur comes under Thane Districts. The Real Estate sector has seen a surge in the town since the inception of Navi Mumbai. But, when did Navi Mumbai actually plan it’s inception?
This area was proposed in 1971 to be a new urban township of Mumbai by the government of Maharashtra. For this purpose of the new public sector, the undertaking was established named “City and Industrial Development Corporation (CIDCO).”
In the late 1960s, the Navi Mumbai was planned to be established. This city is the brainchild of Late Mr. ‘Adi Kanga’, a Civil Engineer & Writer. With distinguished architect Charles Correa on board as the Chief Architect, ‘City and Industrial Development Corporation (CIDCO)’ initiated the development of around 16 thousand hectares of land to the north-east of Mumbai. Divided into 14 nodes, Navi Mumbai is flourishing since its inception due to robust growth in residential, commercial, and industrial real estate.
Many Multinational Corporation Companies like Siemens, McDonald’s, Baker Hughes, Bizerba, Reliance, Accenture, and Larsen & Toubro have their Head offices and branches across the city, making it an active business hub.
Development of Real Estate
Planning of this city began in 1971 with the involvement of Late Mr. Adi Kanga and leading architects of that time like Charles Correa (Chief Architect), Shirish Patel, Pravin Mehta & R.K. Jha (Chief Planner). Since Navi Mumbai is incredibly growing as a commercial hub and residential development.
But in the beginning time of the creation of Navi Mumbai in the 1970s, CIDCO was the only authority that looked after the development and maintenance. Then CIDCO started with the preparation of development plans covering around 100 villages all over the city. However, CIDCO planned and constructed railway stations, roads, and public places in the city and developed nearby areas commercially.
The 14 Nodes CIDCO created were named Airoli, Ghansoli, Kopar Kharaine, Vashi, Sanpada, Juinagar, Nerul, CBD Belapur, Kharghar, Kamothe, New Panvel, Kalamboli, Ulwe, Pushpak, and Dronagiri. Each of the nodes is divided into smaller groups called ‘Sectors’.
In December 1991, Navi Mumbai Municipal Corporation (NMMC) was constituted by the State Government to maintain some of the developed nodes of the city. From 1992, most of the nodes came under the authority of NMMC and included in the Thane district. Southside nodes like Kharghar, Kamothe, New Panvel, and Kalamboli are maintained by CIDCO and come under the Raigad district.
Navi Mumbai is situated exactly 127 KMS away from Pune along the Mumbai-Pune Express Highway and merely 25 km from Mumbai. Real Estate in Navi Mumbai is proving to be an attractive growth location for business as well as the housing sector.
The metro-city enjoys the smoothest connectivity through all the routes, Rail, and Road connectivity with various destinations like Panvel, Belapur, Kalamboli, Kharghar, Vashi, and Nerul. Mumbai’s Chhatrapati Shivaji International Airport is 30 km away. Navi Mumbai International Airport at Ulwe, near Panvel, is expected to be functional soon.
Growth In The Course Of Time
- Apart from the International Airport, there are an ample space of 8 million sq. ft. of office space to the existing operational office space of 18 million sq. ft.
- BKC II is commissioned by CIDCO at over 300 crores to come up at Kharghar. This will lead to an ecosystem of jobs, business opportunities, and more industries. All within the vicinity.
- The longest sea bridge in India to be known as Mumbai Trans Harbour Link (MTHL) of about 22 Km will connect Sewri in South Mumbai to Nhava Sheva in Navi Mumbai.
With more and more megaprojects coming to Navi Mumbai, it is on the trajectory of being the next Industrial and Commercial Hub in India. Sharing a closer connection with Mumbai, Pune, and other vicinities, it is also preferred to have residential spaces for a smoother, economical, and efficient quality of lifestyle. Real Estate in Navi Mumbai has also come a long way since the declaration of a new International Airport being constructed, and other infrastructures like Seawoods Grand Central Mall and Inorbit Vashi boosted the figure of development around the area.