Scouting for inexpensive property to buy on the outskirts of Mumbai? Try Navi Mumbai. An investment here could be rewarding. The satellite township of Navi Mumbai, which has been struggling for the last three years to recover from a long recession, may now see a ray of hope with Cidco setting up a special economic zone (SEZ) in Dronagiri in Navi Mumbai. And in a bid to revive the Thane-Belapur industrial belt, the Thane municipal corporation has just cut octroi rates. Both developments, real estate brokers and others predict, will push up the property prices in the region.
Satish Haware, managing director, Haware Builders, said,