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Karjat : An Emerging  ‘Gurgaon’ of Mumbai”  -Commissioner, MMRDA

The latest addition to Mumbai Metropolitan Region (MMR), Karjat is a sub-district of Raigad, Maharashtra. Located at the foothills of Sahyadri, Western Ghats and the end of the coastal plains of Konkan region near Deccan, the region is fast developing to be one of the most promising and favourable real estate destinations.

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Check out the top reasons to invest in a residential property at Karjat http://olympeo.com/blog/top-5-reasons-for-buying-residential-property-in-karjat/

Congestion of the Mumbai city as well as the Mumbai suburbs, easy accessibility, close proximity to the tourist attractions like Lonavala and Karjat, proximity to Mumbai complemented with the upcoming infrastructural projects and developmental projects in the region itself has propelled the demand for the real estate market in the vicinity.

The Growth Story of Karjat

Shortage of Affordable Housing 

It is not unreasonable to assume that 78% of the population will not be able to afford a housing of INR 4,000 per sqft. More over the census of 2011 shows that the reverse trend of people moving out of Mumbai city to Mumbai suburbs has already started. According to the census, almost 5.75 lakhs of people actually moved out of the city whereas the Mumbai sub urban, Thane region and the Raigarh region witnessed increase of 8 lakhs, 36 lakhs and 19 lakhs respectively. A big factor in this regard is the affordability of houses besides infrastructural/industry growth in the other regions.

A complete report of JLL on Affordable Housing in India can be read here http://olympeo.com/blog/affordable-housing-in-india/

With majority of the population earning less than INR 10 Lakhs per annum, affordability in the Mumbai city and immediate suburbs is a big question, wherein the role of the extended Mumbai suburbs (including Karjat) cannot be more emphasized for this segment of the population

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Infrastructural Development Activities in and around Karjat

Karjat is uniquely located at a critical point co-joining four different directions i.e. Panvel-Mumbai, Thane, Khopoli & Pune-Bangalore. This makes Karjat a central hub, providing an exceptional destination, both from the view point of industry and as a real estate destination. The strategic location, continuous growth in infrastructure, increasing convenience in connectivity and proximity of various economic and social growth centers are very promising signs for Karjat. The real estate market of Karjat is slated to benefit from these factors as well as from the growth of Panvel. Many developers have identified this opportunity and so Karjat is witnessing the launch of various housing projects. A few landmark projects include Olympeo Riverside & Olympeo Riva.

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