Taloja in Navi Mumbai is on a growth trajectory especially after the promising developments in the locality. With issues such as power and water supply and poor infrastructure being addressed by the local government, it is expected that Taloja’s real estate will improve further.
With Kharghar as its neighbourhood locality, Taloja is fast becoming an important residential destination for residents. The latest news of The City and Industrial Development Corporation of Maharashtra (CIDCO) providing 24*7 power and water supply, development of an over bridge connecting it with Kharghar has propelled growth here. Other factors leading to a rise in capital values are proposed metro station, impending International airport and comparatively affordable prices.
Experts believe that if the ongoing infrastructure developments are implemented timely, there is likely to be an exponential growth in the capital values in the next three years in Taloja. However, it remains to be seen how effective will be CIDCO’s ambitious plan of providing adequate power and water supply.
While the average property prices in Taloja are around Rs 4,000-4,500 per sq ft, Kharghar, located about 9 km away has capital values in the range of Rs 7,000-8,000 per sq ft.
Factors such as offering properties at half the price in comparison with Kharghar as well as presence of several small and big industries such as Deepak Fertilizers and Petrochemicals, BEL, Kellogg India and Hindalco Industries Ltd plant has attracted people to live in this locality. The majority of residents living here are working in the above mentioned industries.
Infrastructure and connectivity
Located on National Highway (NH) 4, Taloja has a direct road connectivity to the Sion-Panvel Highway, Panvel and Dombivli-Kalyan which makes travelling to Mumbai, Pune and Thane more convenient.
Taloja is a functional railway station on Vasai-Diva-Panvel Central Railway line. Currently, three shuttle trains ply on this route to and from Vasai-Diva-Panvel. Since railway stations on this route already exist, it is inevitable that this route be converted and connected to Mumbai Suburban local route.
Though railways offer an excellent connectivity, the construction of Phase I of Navi Mumbai Metro between Belapur to Pendhar which will further meet Taloja will also makes lives easier for people. The operation is expected to start by 2017. In addition, the phase II will connect MIDC and Taloja to Khandeshwar.
Since Taloja is a developing node, for all basic amenities, such as education, health care service, shopping, entertainment and recreation, the residents have to travel all the way to Panvel, Kharghar or Thane. However, CIDCO is planning to improve the basic infrastructure to ensure Taloja becomes a self-sustaining node.
Taloja is very close to the central park and golf course in Kharghar. The central park would be 5 kms away from Taloja Station. The golf course and the under construction Isckon Temple is again 5 km away from Taloja. Kharghar has three international schools which have bus facility to Taloja. The cultural heritage centre which is planned by CIDCO is a 4 km drive from Taloja.
Investors in the locality also have the option to cash in on the healthy rental returns. Based on the location of the property, its age and amenities, rental values in Taloje range between Rs 3,000- 9,000 per month. A standard 1BHK apartment is available for anything between Rs 3,000 – 3,500 per month, a 2BHK for Rs 4,500-5,500 per month and 3BHK for Rs 7,000-Rs 9,000 per month.
In the current scenario of a slowdown in the real estate market, property prices in Taloja have witnessed reasonable growth. According to Space India data, the locality has witnessed a 17 percent annual growth in the July to September 2015 quarter compared to the same period a year ago.
“The upcoming Navi Mumbai international airport, over bridge and flyover to connect Kharghar-Taloja, will not only ease commuting time, but make the area investment-centric, with considerable potential of long-term appreciation”, adds Pankaj.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Space India does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.