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The next big real estate battle: Thane or Navi Mumbai?

Aug 25, 2020 02:07 PM IST

Urban clusters that will emerge as the new ‘homes’ despite the work from home (WFH) trend will in all likelihood be close to the main city where a visit once or twice a week to the office will be doable. Worth looking at Thane and Navi Mumbai from that vantage. 

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The moment a real estate developer uses words like ‘saleable area’, ‘built-up area’ or ‘super built-up area’, my mind now automatically switches off.

Irrespective of the brand or offering–I lose complete trust on the developer.

My principle is simple: If one can’t follow the terminology (carpet area) that is legally binding to a regulator at the time of a sales pitch, it is unlikely that the developer will oblige his commitments to an individual home buyer.

Armed with this background, I opted to explore the Navi Mumbai real estate market last week. Why Navi Mumbai? Simple — one of the consequences of the COVID-19 pandemic has been a significant surge in Work from Home (WFH) for select roles and professions. But WFH will not mean a home in places such as Patna, Raipur, Ranchi etc where internet connectivity or electricity may be patchy.