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India On Media |
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| Technology
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| Navi Mumbai still waits for its air |
| Navi Mumbai still waits for its airport, but realty takes off
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| INDIA
, 5-October-2010
3:41:24 AM |
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The view from the deck of the three-bedroom apartment does not boast of much except a labyrinth of under-construction buildings which seem to be rocketing skyward. The frenzied construction is in stark contrast to the quiet of the sparsely populated streets outside. There is no public transport in sight and, in the absence of any private vehicle, the only way to reach the nearest local railway station 2.5 km away is a brisk walk.
Yet Kharghar in Navi Mumbai is at the centre of the biggest real estate buzz in the financial capital, thanks to the proposed international airport project next door, even if it is one which is still struggling to secure environmental clearances from the Centre.
The three-bedroom apartment, for instance, is located in a barren concrete jungle surrounded by hills. It is a one-and-a-half hour drive from the heart of Mumbai and has no local transportation worth its name. Yet it is audaciously priced at Rs 1.25 crore. Real estate experts admit that the price tag has to do with the airport project on the other side of the railway track.
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