NAREDCO Maharashtra, the Maharashtra chapter of NAREDCO, the national body of real estate developers on July 5 announced the launch of their new unit in the state, NAREDCO Ambarnath-Badlapur.
This has led to the creation of an affordable housing stock of over 10,000 homes from their over 100 members associated with this unit. This is expected to unlock the affordable housing properties and offer a great opportunity to the discerning homebuyers to buy RERA registered properties at affordable prices in Ambarnath and Badlapur region, Naredco said.
Apart from this, the prime objectives of this new unit will be to propel the infrastructure development in the region, to enhance the water supply and its availability to the residential segment along with the policy-level resolution on river red line/blue line issues.
Due to its proximity to the upcoming Panvel-Badlapur highway, Metro connectivity via Thane, the area is expected to absorb the future growth in population, business and commercial activity in the region.
The region is being developed with modern infrastructure including basic civic amenities like schools, banks, hospitals, Municipal Council, post office, water supply and the markets nearby which has enhanced the real estate development there, it said.
“We are happy to announce the launch of NAREDCO's new unit in Ambarnath-Badlapur. This will open up new affordable housing inventory for the prospective homebuyers who are looking to buy their dream home. Under NAREDCO's umbrella, the homebuyers too will have a sense of trust and confidence. It will also boost the Government's policy of creating ‘Housing for All by 2022,” said Ashok Mohanani, president, NAREDCO Maharashtra.
As much as 58% of around 149,000 homes launched in 2020-21 are located in the peripheral areas of the top seven property markets, showed data from Anarock Research.
In 2019-20, the share of new launches in the peripheral locations was around 53% of about 207,000 homes launched in these cities. Out of the total units launched in 2020-21, MMR had 67% supply coming from such peripheral locations.
“The Ambarnath-Badlapur region offers reasonably priced properties to buyers as compared to other locations in Mumbai and Navi Mumbai. The location has several affordable properties on offer for buyers in the lower-income segment and is witnessing huge interest from end users and investors alike,” said Ajay Thanekar, president, NAREDCO Ambarnath-Badlapur unit.
The inauguration of the new unit took place in the presence of NAREDCO’s senior leaders such as Niranjan Hiranandani, National President, NAREDCO; Rajan Bandelkar, Vice Chairman, NAREDCO Maharashtra; Sandeep Runwal, President Elect, NAREDCO Maharashtra among others.
The Ambarnath-Badlapur region has witnessed tremendous growth over the years on account of its proximity to Mumbai. It is also well connected to Dombivli, Thane and Kalyan.
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