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Tender bids prove no realty recession in Navi Mumbai

  • Bhagwati group bids Rs 1.84 lakh a sq mtr for Kharghar plot
  • Prices are bound to zoom with massive infra development, says developer Prajapati

NAVI MUMBAI, July 10, 2015: The latest tender bids for residential-cum-commercial plots at Kharghar in Navi Mumbai show that the so-called realty recession theory does not apply to this rapidly developing area.

Bhagwati Group has emerged as the l-1 bidder quoting Rs 1.84 lakh per sq mtr – the highest price quoted so far for a Kharghar plot.

The group also emerged the highest bidder for two other plots as well quoting Rs 1.71 lakh per sq mtr and Rs 1.61 lakhs per sq mtr respectively.

Commenting on the bids, Navi Mumbai’s leading developer Rajesh Prajapati said: This goes to show that Navi Mumbai real estate remained aloof from the so-called recessionary trends. The trend of high prices clearly indicates that the realty prices will shoot further in the coming months as several infrastructure projects begin to take shape.”

One of the key projects coming up is the Navi Mumbai International Airport which has crossed all hurdles. Areas like Kharghar, Ulwe, Dronagiri and Panvel will witness not only rapid development, but escalation of prices in a demand-driven market, Mr Prajapati, managing director of Prajapati Group, said.

The details of today’s bids for Kharghar plots which clearly show the realty market trend:

Plot no 3
1,51,000 – varun enterprises
1,26,621 – paradise
1,65,222 – Greenscape shakti ventures
81,000 – Tharwani Realt
1,12,559 – Tricity realty pvt ltd
1,84,111.11 – Bhagwati developers
1,11,699.99 – Trishul realtors
1,27,777 – Platinum lifestyle

Plot no 4
1,71,511.11 – Bhagwati developers
85,000 – Tharwani Realty
89,991.99 – Sadguru Infraprojects pvt ltd
1,05,121 – Tricity realty pvt ltd
1,26,621 – Paradise infra pvt ltd
1,26,000 – Varun enterprises
1,33,011 – Platinum lifestyle

Plot no 5
1,61,000 – Varun enterprises
72,000 – Tharwani construction pvt ltd
1,25,000 –
1,61,611.11 – Bhagwati developers
90,001 – Tharwani realty
1,21,789 – Platinum lifestyle

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