Ghansoli realty all ready to take off

Mumbai Metropolitan Regional Development Authority’s (MMRDA) decision to build a third bridge connecting Ghatkopar to Ghansoli and Koparkhairane will boost realty rates in the area, which is the place from where new supply is hitting the market.

According to Devang Trivedi, president of Builders Association of Navi Mumbai (BANM), “This decision to have a corridor connecting Ghatkopar and Koparkhairane was long awaited.

Earlier, there was a plan to have a Airoli-Vikhroli link road, but the decision to connect Ghatkopar to Koparkhairane will definitely push the realty sector in the area. This connectivity will also boost the link to coastal road, which will run upto JNPT.”

Trivedi expects that property prices in this area will rise in a range of 20-25% immediately. “The rate in Vashi today stands at around Rs17,000 sq ft and that in Koparkhairane is Rs9,000 to Rs13,000 sq ft, while in Ghansoli is Rs8,000 to Rs9,000 sq ft. The immediate impact will be that rates in Vashi, Koparkhairane and Ghansoli will now be more or less the same due to this connectivity.”

Another real estate expert, said, “Koparkhairane and Ghansoli will now emerge as centralised locations for those working in Thane, Navi Mumbai’s MIDC area and Seepz, Andheri. As a result, we can expect home buyers to flock these areas. Also, Ghansoli is the node, which has new supplies with new projects coming up, while in Koparkhairane new supplies are available in sector 11.”

Trivedi said, “Today, areas in Dadar, Worli, Matunga and Parel command equal importance. We expect areas like Vashi, Koparkhairane and Ghansoli to come at par with this project.”