Nerul, situated in Maharashtra's Navi Mumbai region, has become a sought-after destination for homebuyers and businesses due to its well-planned infrastructure and excellent connectivity. Boasting a variety of housing options, including high-rise apartments and gated communities, Nerul caters to diverse preferences and budgets. The area is self-sufficient with top-notch educational institutions, healthcare facilities, and recreational spaces. In April, '19 East' emerged as the top-selling building. Developer sales dominated transactions, showcasing Nerul's appeal across different segments. With apartment sizes ranging from 243 to 2,782 square feet, Nerul caters to individuals and families alike. The surge in real estate activity underscores Nerul's status as a thriving hub, offering modern urban living with convenience and comfort.
Nerul is a prominent residential and commercial hub located in the Navi Mumbai region of Maharashtra. Known for its well-planned infrastructure and excellent connectivity, this locality has become a sought-after destination for homebuyers and businesses. Nerul boasts a range of housing options, including high-rise apartments, gated communities, and independent houses, catering to diverse preferences and budgets. The area is equipped with top-notch educational institutions, healthcare facilities, shopping complexes, and recreational spaces, making it a self-sufficient neighborhood. With its proximity to major business districts, easy access to public transportation, and seamless connectivity to Mumbai, Nerul has emerged as an attractive choice for those seeking a comfortable and convenient urban lifestyle.
In April, '19 East' emerged as the top-selling buildings, closing 4 deals out of the 18 deals registered in Nerul. This was followed by Delta Palm Beach which closed 3 deals. Aramus The Domus and Panchavati Apartment managed to close 2 deals each. Developer sales dominated the overall transactions by contributing 55% whereas Resale on the other hand helped by registering about 40% of the transactions.
Nerul caters to diverse budgets and preferences. On the high end, a luxurious apartment in Regency Palms commanded a price tag of Rs. 6 crores, attracting luxury homebuyers. Conversely, a budget-friendly option in Sai Kunj was available for just Rs. 48 Lakhs, providing an excellent opportunity for value-conscious buyers.
The apartment sizes varied greatly, with the largest unit spanning 2,782 square feet in Regency Palms and the smallest being 243 square feet in Panchavati Apartment. This versatility ensures that Nerul caters to everyone, from families seeking spacious homes to individuals preferring compact living spaces. Prices per square foot in Nerul ranged from Rs. 8,727 to Rs. 25,304, with an average of around Rs. 18,298. Most apartments sold were in the coveted 1-1,000 square feet range. However, close to 33% were between 1,000 - 2,000 square feet. There was a single deal which was between 2,000 - 3,000 square feet signifying the opulence of Nerul in the minds of the luxury buyers.
Close to 40% of the apartments sold in March fell between Rs. 1 - 2 crore range, catering to a large segment of homebuyers. However, the area also caters to luxury buyers, with about 30% of apartments priced between Rs. 2 crore and Rs. 3 crores. Additionally, 28% of the flats were sold within the Rs. 1 crore range. There was a single deal which even closed at Rs. 6 crores.
In conclusion, Nerul stands as a shining example of modern urban living in Navi Mumbai. With its well-planned infrastructure, diverse housing options, and excellent connectivity, it continues to attract homebuyers and businesses alike. The recent surge in real estate activity, highlighted by the success of developments like 19 East and Delta Palm Beach, reflects Nerul's status as a thriving residential and commercial hub, offering something for every lifestyle and budget.
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