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Navi Mumbai: Real estate market watchers said that business is looking good this festive season due to multiple factors, including the operation of Navi Mumbai airport and the gradual shifting of Mumbai residents to Navi Mumbai as their buildings undergo redevelopment. The senior vice president of Maharashtra Chamber of Housing Industry (MCHI-Navi Mumbai), Manohar Shroff, said: “Demand for rental housing in Navi Mumbai has gone up due to ongoing redevelopment projects in Mumbai. Because of corrections in the share market, shroff added that pre-lease properties are also in good demand.
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Mukesh Lakhani from Max Realty said people from Andheri, Goregaon and Matunga whose buildings are going for redevelopment are shifting to Navi Mumbai. “So, during Diwali time, real estate sales and rentals are going to get better,” said Lakhani. Also, the presence of Navi Mumbai airport has led to a rise in hospitality properties and also more residential towers in and around Panvel, Kharghar, Taloja, Ulwe among others. Download the TOI App.