NERAL, a realty tale : The Times of India

Neral today is boasting of a township equipped with all the amenities available at one's disposal

In the last decade, Neral has undergone a massive transformation and is turning rapidly into a developing city. Once known as an area that lacked infrastructure and connectivity, today, it boasts of residential township, hospitals, schools and social infrastructure, thus making it one of the fastest developing districts for housing. Many migrant families from areas like Dadar and Parel, have bought houses in Kalyan because of the con nectivity and affordable flats available in the area.Ragini Mhatre, who works in the hospitality sector, says, “I have bought a 2-BHK apartment in this area at a price that I would get a 1BHK apartment in Kharghar. The lush green environment as well as proximity to office, which is situated in Panvel are benefiting factors.“
PUSHING TOWARDS GROWTH
Talking about the area and new developments, Bhavin Patel, MD, Tulsi Estates says, “Neral is the next big residential hub after Badlapur and Kalyan on the same rail track. Many affordable projects are coming up in this area, given its easy connectivity to Mumbai via the road-rail network.“ Also, the state government of Maharashtra has initiated several mega infrastructure projects, which will catalyse the growth of property in Karjat and Neral.This, in turn, has and will push real-estate projects in the region to develop low-cost residential property in Karjat.
The potential of these projects is immense, as the corridor is poised to be a real-estate hub.Some of these projects are like the Badlapur­Karjat road where the highway is being developed into a 4-lane highway and Karjat­Murbad road where the highway is being developed as a part of the Virar-Murbad-KarjatKhopoli-Alibaug outer ring road.Prabhat Ranjan, CMD, Olympeo Infrastructure Pvt Ltd says, “The area is well-connected with in dustrial and commercial areas of Kalyan to Badlapur by roads and the Mumbai suburban rail network. The Ambernath-Badlapur region has four industrial areas (4 MIDC) where it is home to nearly 1,000 big and small companies. Apart from this, there are three central government establishments falling under the Ordnance Factory Board and Defence Research Development Organisation (DRDO). In near future, Ambernath is expecting about 1,200 pharmaceutical companies in the MIDC area. All these factors will propel employment opportunities in the region, thus further creating the demand for real estate in the surrounding locations like Neral-Karjat.“ Recent studies on the property market of the area, which encompasses Karjat, Neral, Shelu and Khopoli, predict that prices are expected to double by 2017.
THE RESIDENT'S CHECKLIST
According to Girish Shah, EVP, marketing and sales, Godrej Properties Limited, “While the traditional view on home-buy ing was restricted to factors such as convenience and shorter travelling distance from home, today, the customers look for a holistic living experience. Some of the most important factors that the buyers keep in mind is the location's accessibility and infrastructure around the location, accessibility to major CBDs, airports and stations.“
Local developers from the area are also of the view that Neral is popular among property buyers for its strategic location and proximity to commercial hubs such as Navi Mumbai, Belapur and Vashi. Besides, amenities like regular supply of water and popular food joints, open parks and libraries, have also become features of the area. With its close proximity to the Shelu railway station and the four-lane Badlapur-Khopoli highway, the connectivity of the area to Mumbai's suburban rail network and industrial areas of Badlapur-Ambernath has been enhanced.
Hence, Neral has all the attributes to be your next home!