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According To A Report, Navi Mumbai Had A Maximum Rental Hike Between April And June

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According to sources, the satellite city of Navi Mumbai saw the biggest increase in average rent, rising 6.2% quarter-over-quarter (QoQ). Hyderabad and Ahmedabad saw the biggest increases, at 4.2% and 4%, respectively. According to the survey, rental rates in 13 major Indian cities increased by 2.6% and 14.6% YoY, respectively, to an average of Rs 33.3 per sq ft per month.

From Rs 28.99 per square foot per month in Q1 2024 (Jan-Mar 2024) to Rs 30.78 per sq foot per month in Q2 2024 (Apr-Jun 2024), that was the average rent in Navi Mumbai. The rental demand during this time increased significantly by 14.8% QoQ, according to the data, after increasing by 16% QoQ in the preceding quarter. However, strong absorption rates caused the supply to decline 2.2% QoQ throughout the mapped cities, which raised rents.

The cities of Thane (Rs 29.84 per sq ft per month), Delhi (Rs 33.72 per sq ft per month), and Mumbai (Rs 82.28 per sq ft per month) have the highest rentals. According to the survey, the average monthly rent in Greater Noida is Rs 14.52 per square foot, while in Noida it is Rs 20.10, and in Bengaluru it is Rs 28.

A Researcher explained the dynamics, saying, “We anticipate continued growth in both rental demand and rents in the short to medium term with economic activity peaking.” Furthermore, as the stock of properties under development approaches completion, the supply of rental apartments is anticipated to improve. In general, the current environment encourages more involvement in the rental market and offers landlords and investors a potential opportunity.

Residential real estate is still a profitable investment industry due to its high rents and strong demand for rentals. The survey noted that investments in Ahmedabad, Pune, and Kolkata showed the greatest rental yields (3.8%) despite the fact that the average rental yield across the top 13 cities is 3.6%.

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Nerul Bus Stops Shifted Ahead of Turbhe Flyover Demolition

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NMMT moves stops by 50 metres as authorities prepare traffic arrangements for demolition work.

The Bus Stop

Commuters travelling through Nerul and Turbhe may soon see changes in traffic movement as authorities prepare to demolish the remaining sections of the Turbhe flyover. To minimise inconvenience to passengers, NMMT has shifted the bus stops at Nerul LP by around 50 metres in both directions.

The bus stop for passengers travelling towards Panvel has been moved about 50 metres ahead, while the stop on the Vashi-bound side has also been relocated by a similar distance. New poles have been installed at the revised locations. Drivers and conductors from NMMT’s Turbhe, Asudgaon and Ghansoli depots have been instructed to use the new stops for passenger pick-ups and drop-offs.

The changes come as officials prepare for the demolition of the remaining two sections of the Turbhe flyover. One of the three sections is already undergoing work, while the demolition of the other two could affect traffic between Thane and Vashi. Traffic officials and the Public Works Department are working on an alternative traffic plan, including possible diversions through the Nerul LP underpass. However, the final diversion route and demolition schedule have not yet been announced.

Officials said the remaining sections of the flyover need to be demolished due to structural deterioration. Permissions and other preparations are currently underway.

For regular commuters, the temporary bus-stop shift is expected to be an important change to note as authorities work on the larger traffic management plan.

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NMMC Pays Tribute to Gandhi and Shastri on Birth Anniversaries

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Civic officials remember the contributions of Mahatma Gandhi and Lal Bahadur Shastri at Belapur headquarters.

The Tribute

The Navi Mumbai Municipal Corporation (NMMC) paid tribute to Mahatma Gandhi and former Prime Minister Lal Bahadur Shastri on their birth anniversaries on October 2. A commemorative programme was held at the NMMC headquarters in Belapur, where NMMC Deputy Mayor Dashrath Bhagat offered floral tributes to the portraits of both national leaders at the civic headquarters’ amphitheatre.

Senior NMMC officials were present during the programme, including Additional Municipal Commissioner Sunil Pawar, Chief Auditor Rajendra Gadekar, Deputy Commissioner of Property Tax Dr Amol Palve, Deputy Commissioner of Solid Waste Management Dr Ajay Gadde and Chief Sanitation Officer Rajusingh Chavan.

The occasion provided civic officials an opportunity to remember the lives and contributions of two prominent figures in India’s history. Mahatma Gandhi is widely remembered for his leadership in India’s freedom movement and his emphasis on truth, non-violence and cleanliness. Lal Bahadur Shastri, India’s second Prime Minister, is remembered for his simple lifestyle, leadership and the slogan “Jai Jawan, Jai Kisan.”

The tribute programme also highlighted the continued relevance of their values in public life. For a civic body like NMMC, Gandhi’s emphasis on cleanliness and public responsibility remains particularly significant. Officials and staff gathered at the headquarters to mark the occasion and pay their respects to the two leaders. The programme concluded with floral tributes in their memory.

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CBD Belapur’s Sector 9 to Get New Open Gym

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NMMC begins installing fitness equipment at the scenic CIDCO Nursery area following residents’ demand.

The Gym

Residents of CBD Belapur’s Sector 9 will soon have a new outdoor fitness facility close to their regular morning-walk route. The Navi Mumbai Municipal Corporation (NMMC) has started installing open gym equipment at the CIDCO Nursery hill area following a proposal raised by BJP corporator and Standing Committee member Swati Gurkhe.

The work was inaugurated in the presence of senior citizens, former corporator Ashok Gurkhe, Swati Gurkhe and several local residents. The CIDCO Nursery area is known for its greenery, trees and peaceful surroundings. Every morning, many residents visit the area for walking and exercise, making it a popular spot for health-conscious citizens. The new open gym is expected to give them an additional option to include basic strength and fitness exercises in their routine.

Swati Gurkhe said the proposal was made after residents requested better fitness facilities in the area. She said the civic administration has now started implementing the project and efforts will be made to provide good-quality equipment based on residents’ needs. She added that the facility could be expanded in the future if residents require additional equipment or improvements. Their suggestions will be considered while planning further work.

The initiative aims to make better use of the naturally green surroundings while encouraging residents, particularly senior citizens and regular walkers, to stay active and maintain a healthier lifestyle.

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