Palm Beach Road helps in Navi Mumbai realty growth

Mumbai

The Palm Beach Road is not just a 10 km long six-lane road. It is a man-made wonder. At a time when almost all roads in Mumbai have become pockmarked, this is one exception. Built to connect Vashi and CBD Belapur via Nerul and Seawoods, the areas situated around it have turned into up-market residential and commercial ones. The beautifully-constructed road is a dream stretch for many motorists due to its good quality of construction and less traffic, as compared to other important roads in the city.

The West of the road is mostly covered with mangroves, except for a few buildings that that been approved by the CIDCO – most notably the NRI Complex (also known as Seawoods Estate) as also a marine training center and a Delhi Public School located nearby. Many malls and high-end residential towers are on the east side of the road. The residential towers offer a view to die for and are highly-priced. The stretch is touted as the ‘Marine Drive of Navi Mumbai’. People can be seen jogging or exercising by the road side early in the morning.

The Palm Beach extension road is a completely commercial area on one side and residential on the other. The road is the most posh location in Navi Mumbai. It offers an excellent view of the creek and mangroves. The advantage it gave Navi Mumbai back in the 90’s was that the city gained momentum in construction activity after this manmade wonder was built. There has been a lot of growth in real estate and plots facing the road today run into crores of rupees.

Many Mumbai residents and non-resident Indians have settled down here for the royal view and peace that they do not get in Mumbai. “There are many places to hang-out here. This road connecting Koparkhairane, Vashi, Nerul and Belapur is the best address to have in Navi Mumbai. It is a delight for motorists and is one of the best roads in the entire Mumbai Metropolitan Region,” feels DJ Chintan Bhatt from Nerul, who stays very close to the road. Adds Manish Gupta, a local resident, ”Vox Pops, Barbeque Nation, ‘V’ Lounge, Vapor and Jhama are some of the most famous hang outs for college students and local residents across the area. One need not travel to Mumbai anymore for good quality cuisine.”

The road has also witnessed many Bollywood shoots in the past. It is one of the most sought-after locations in Navi Mumbai even for B-town. Famous far and wide across India for its striking landscape, huge sky-scrapers, well-built complexes and astonishing greenery, the road has attracted one of the biggest industries in India – Bollywood. Various movies like Dhoom, Tarzan-The Wonder Car, Fanaa by Yash Raj Films have been shot at Palm Beach Road.

Manohar Shroff, secretary, Maharashtra Chamber of Housing Industry (MCHI)-Navi Mumbai, informs, “Palm Beach Road is one of the premium locations in Navi Mumbai with flats priced between Rs 1.25 crore and Rs 18 crore. The current prices are from Rs 11,000 to Rs 16,500 per square feet on Palm Beach Road. There is demand only for 1-2BHK houses currently, which are priced between Rs 1.25 crore and Rs 2 crore, not for the bigger ones. The premium segment here will see growth only after the international airport comes up.”

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