Airoli, often referred to as the gateway to Navi Mumbai, Airoli has seen tremendous development in recent times. Airoli has 28 sectors and two primary residential areas and is now convincingly enabled with social and civic infrastructure. Considered as a pivotal node of Navi Mumbai, it has increased dramatically over the years. The scarcity of land and higher rates of real estate in Mumbai has given an impetus to the fast growth of peripheral regions in Mumbai including Navi Mumbai which had been planned as a satellite city to Mumbai.
Airoli has caught attention of developers like Sunteck Realty Limited, Goodwill Developers and Haware Builders. These builders have some residential properties here. Kamal Khetan, CMD, Sunteck Realty Limited, says “The presence of commercial activities has also triggered the demand for residential projects in the suburb. With the corporate sector looking at the region for an office set up, Airoli is progressively evolving from an industrial belt to a hub replete with social and infrastructure projects.” The infrastructure development like the bridge connectivity to eastern express highway, the renowned institutions in the locality and the planned development give further impetus to growth of Airoli.
Sunteck Realty Limited has two projects at Airoli – Signia Oceans that is nearing completion and Signia Orion recently launched. “Being one of the few renowned real estate providers in Airoli, our projects are backed with substantial research to introduce a configuration and price that witnesses quick inventory movement. These projects are in a joint venture with the Piramal Group,” adds Kamal.
The development of Airoli is happening in a manner faster than any other Navi Mumbai suburb. “The proximity of Airoli to and its access from eastern express highway and Palm Beach road being its main pillars of development. The travel time from Airoli to South Mumbai and western suburbs is shorter with connectivity through JVLR,” says Amit Haware, Director, Haware Engineers and Builders Pvt. Ltd.
The area has the presence of a large number of organisations and IT companies. Om Ahuja, CEO, Residential Services, Jones Lang LaSalle India, says, “Airoli is all set to develop into a significant IT hub, which will have long-term implications for its potential as an investment hotspot since it is emerging as a residential destination of choice by residents from Navi Mumbai.” Airoli has the presence of a number of commercial projects like iGate Knowledge Park, Print City of Times of India Group, Reliable Tech Park, Reliable Plaza and Mindspace SEZ.
Rates differ from one developer to another. Property rates are between Rs. 4800-6200/sq.ft., depending on exact location, developer brand and project specifications.
Airoli also houses educational institutions such as St Xavier’s School, EURO school, New Horizon Scholars, DAV Public School, Radhikabai Meghe High School and Shriram Vidyalaya. Educational institutes like Datta Meghe College of Engineering provides higher courses. “Being a planned township, Airoli has a sizeable presence of the primary social infrastructure facilities like schools, colleges, financial institutions, hospitals and shopping complexes. The presence of institutions like National Burns Center, two premier engineering colleges, many corporate houses and a number of schools are the prime factors contributing to the continuously improving infrastructural amenities,” says Ravi Ahuja, Executive Director, Cushman and Wakefield.
The location also ranks high on connectivity and accessibility whether by road, bus or train. With the changing times, this area has witnessed a boom with regards to the infrastructure development. It is well connected to the neighbourhood locations – Nerul and Vashi. With Thane-Belapur Road in the north, Airoli enjoys connectivity to Navi Mumbai nodes, Thane and Kalwa. “The Eastern Express Highway in the south provides connectivity to Mulund and the rest of Mumbai. The Mulund-Airoli Link Road has increased the potential of Airoli as one can reach Mulund in 20-25 minutes. The commissioning of the Thane-Turbhe-Vashi Rail corridor has further boosted the development of this node,” adds Ahuja.
The location has also witnessed an increase in the retail space that caters to the day-to-day needs of the residents. Sumit Mishra, a resident who takes Guitar classes in the area, says “Airoli is a planned node near Mumbai. People from Mumbai are shifting to Airoli for the sake of a better lifestyle and affordable rates. Airoli can be termed as a self-sustained suburb with good facilities around.” Airoli has also seen migration from surrounding such as Bhandup, Mulund and Thane.
Experts believe that with the upcoming Navi Mumbai airport, this micro market will gain great significance and witness substantial growth in the near future. With improved accessibility and connectivity, the demand for residential property looks promising.
Alok Kumar Upadhayay
Real Estate Professional