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Is the real estate boom in Ulwe finished? – #realestate

by lara on March 20th, 2015

“The combination of rapid construction of buildings and lack of basic infrastructure often leads to stagnation.”

Ulwe has been in the news for a few years now as a real estate haven that offers promising returns on investment over the next few years. Five of the most commonly attributed reasons for possible escalation are:

  • Proposed Navi Mumbai Airport
  • Proposed Sewri – Nhava Link
  • Seawoods – Ulwe Link from Palm Beach Road
  • The SEZ in Ulwe
  • Baman Dongri Railway Station which is to be connected to the Harbour Line

As someone looking to invest in Navi Mumbai, you’ve probably heard these reasons from every broker / builder you’ve come across. However, a trip down to Ulwe, which by no means is a short drive brings up some very valid points. To start with, getting to Ulwe requires you to drive, practically the entire length of Palm Beach Road which beings you to the new NMMC Headquarters with the large Indian flag. A right at the junction and another 15 minutes brings you to a huge node of development, Ulwe.

ulwe real estate investment home

Dusty Broken road in Ulwe.

Buildings after building have been built here in the past 5 years and as of March 2015, are selling for 3500 – 5000 per square foot depending on the position of the construction. An under construction property could be picked up for peanuts, something ready to move into (which is rare) can be bought for 5000 upwards.

“Once you enter Ulwe, the first thing that strikes you is the sheer expanse of development. What also strikes you is the sheer lack of basic infrastructure like Roads, Street Lamps, Pavements, Sidewalks etc.” 

One doesn’t really need an expert to know that when rapid development occurs without the basic infrastructure in place, potential for stagnation develops.

Lets dissect each one of the five points in favour of Ulwe.

  • The airport has been rumoured to become operational ‘soon’ for the last 10 years. The proposed airport has lead to an entire township, ‘Kharghar’ to escalate leaps and bounds and now the same trick is being tried for Ulwe.
  • The proposed Sewri – Nhava link has had a similar story. It has been in planning for many years and only recently have we heard that the Japanese company contracted to build it has reportedly run into funding issues.
  • The Seawoods – Ulwe link off palm beach road is nothing but a mere shootout off Palm Beach Road which will marginally reduce the distance to Ulwe, but doesn’t really make much of an impact cost wise.
  • The SEZ in Ulwe is more of a business friendly proposition. One can argue that the jobs it creates will lead to more people settling into Ulwe, but that brings us back to the lack of basic infrastructure. Cache 22 situation, yes?
  • The Baman Dongri Railway station is by far the only tangible advantage that one can assume will become operational in a year or two.

The fact is that Ulwe has been talked about for many years now but the returns it has offered are certainly not up to the mark. Investors are having a tough time trying to resell their initial investments and the Cash-Cheque components are warped in favour of the investors. Furthermore, most of the building in Ulwe are awaiting their OC (Occupancy Certificates) before which it is illegal to occupy flats / shops.

With the lack of basic amenities, no restaurants and public sanitation, one can only hope, real infrastructure catches up with the building development in Ulwe before a genuine buyer can expect to see some real return and some real quality living in Ulwe.

Lets leave you with a few pictures of Ulwe clicked in March 2015. You be the judge. Your likes, comments and shares mean a lot to this discussion. 

ulwe real estate investment home

Ulwe Skyline and Substandard Road Infrastructure.

ulwe real estate investment home

Slum on the Street Side. Broken Road in Ulwe.

ulwe real estate investment home

Inactive Construction Site in Ulwe.

ulwe real estate investment home

Flyover Project in Ulwe.

ulwe real estate investment home

Flyover Project in Ulwe. Reliance SEZ in background.

  1. Vaibhav permalink

    I visited ulwe and truth is said by author more over no schools no maids, no shops and other utilities like gas agency petrol pump make it worst than any other node in entire navi mumbai

  2. imran khan permalink

    Very helpful article, when i visited ulwe i found the same.i think it will take more than expected Time for its development. The entire Navi Mumbai is facing the connectivity issues and if you regularly use local trains then definitely Navi Mumbai is not the right place to live because of its cold development.

  3. kawal permalink

    Please tel us now current situation where real buyer can find the solution of all your queries raised.

    Is there any govt. body or official website where we can take help to get us update on every issues ?

    is there any time line when all of this will be finalized.

    Please revert me back… I am thinking to have flat in Ulwe…

  4. Sumit permalink

    Thanks, this info. is really very useful. Appreciate your efforts for sharing it.

  5. varsha permalink

    well in that case, is it the good place to buy home. ???
    AS only ulvhe and pnvel -vichumbhe has 1 bhk apartments costing 35-40 lak. and every thing else in navi mumbai costs more than 50 laks.

    A lack of basic amenities, may give buyer an advantage to bargain on cost. and in future 10 yrs the development of the same is expected to happen. so I think Ulve is a best option to buy budget house.

    • rahul S. permalink

      I am buying 2bhk apartment in Ulwe and shortlisted ulwe based on following points,
      1. As I couldnt afford to buy 2bhk apartment in Navi Mumbai near existing railway station in my budget. Early I checked Kamothe but then also 2bhk is beyond 60-65L. as Ulwe property was in my budget.
      2. Nerul-Uran proposed railway connectivity in which Bamandongri & Kharkopar stations are in ulwe node. Railway bridges are constructed already and Phase 1 upto Kharkopar railway line will start around 2018 end that what I have read. So we see where there is railway connectivity there is boom in townships development. Because in Mumbai people mostly travel and prefer railway over raods to reach to their service area. People will come to ulwe when railway starts. So expectation of 20-25% growth in property rates when train connectivity will take place by 2018. By then basic amenities and infrastructure will set up.
      3. Other property hike reasons will be upcoming International airport, SEZ, Shivri-Nhavasheva link. So I dont know when it will be but for sure it will come. By then hike in property rates will be seen further. So if you made investment, it will not give you instant return but will take some time but when time will come it will give your return than any other.

  6. Suren permalink

    I’ve heard that there’s movement on the ground again and that roads etc. have been built now, is this true? Also, remember reading about trans harbour link.. that it is back on track?

  7. Santoshkumar permalink

    Infrastructure is very poor…no roads, no streetlights, no petrol pump, no city bus except for sector 19. Autorikshaws are charging exhorbitantly. For petrol you have to travel all the way to Belapur some 9 kms away. Railway work almost came to halt. No proper hospital facility…

  8. sagar patil permalink

    thanks sir, but i am confused about taloja phase 2 and ulawe, please help me.

  9. mahesh permalink

    Ulwe is 80% developed now. Roads , drainage system are developed by cidco now. many ppl have started living here.NMMC buses are running.It will take next 1 yr to get things operational.

    But if still you are able to buy flat don’t waste time.Invest ASAP Things are changing rapidly in ulwe. and next 2-3 yrs down the line it wil reach to peak.

  10. Imtiaz permalink

    The place is coming up again with leaps and bounds. Rentals for 3BHK are being quoted at 17K and finalized at 15K as of today. The bus service has improved the connectivity immensely and Railways have started testing the track which can only mean one thing, rapid escalation of prices within the next 3-4 months. The place has picked up pace for sure with really good food joints, bakeries and general stores also opening up. Sector 2 is the place to be in as the coastal road will land nearby connecting PalmBeach road near DPS to this area with a short 5 minute hop. Really exciting times ahead.

  11. New buyer permalink

    I have recently purchased new Flat in Ulwe.It is good for investment rates are rising day by day.Good in budget

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