In addition to established destinations like Lonavala, Alibaug, Karjat, and Nashik, several emerging locations near MMR offer great potential for second homes.
1. Igatpuri: Located about 120 kilometers from Mumbai, Igatpuri is gaining popularity due to its scenic beauty and tranquility. The upcoming Mumbai-Nashik Expressway is expected to enhance connectivity, making it a promising investment destination. Igatpuri's serene environment, coupled with affordable property prices, offers excellent value appreciation potential.
2. Dahanu: Situated around 140 kilometers from Mumbai, Dahanu is known for its pristine beaches and lush greenery. The Western Railway line ensures easy accessibility, and the area's unspoiled charm makes it an attractive option for a peaceful retreat. With planned infrastructure improvements, Dahanu is poised for significant growth.
3. Palghar: Approximately 110 kilometers from Mumbai, Palghar is emerging as a popular second home destination due to its rapid development and improved connectivity via the Mumbai-Ahmedabad Highway. The presence of industrial zones and planned urban development projects indicate strong future appreciation potential.
4. Murbad: Located about 75 kilometers from Mumbai, Murbad offers a blend of rural charm and modern amenities. Its proximity to major highways and proposed infrastructure projects, such as the Murbad-Kalyan highway, are expected to drive property value growth. The area is ideal for those seeking a countryside retreat with investment potential.
5. Khopoli: Around 80 kilometers from Mumbai, Khopoli is gaining attention due to its scenic landscape and industrial growth. The upcoming Navi Mumbai International Airport and enhanced connectivity via the Mumbai-Pune Expressway make it a strategic investment choice. The area's natural beauty and proximity to popular tourist spots like Imagica Theme Park add to its appeal.
When selecting a location, consider factors such as long-term appreciation potential, connectivity, and availability of amenities to ensure both personal enjoyment and financial returns on your investment.
Purchasing a second home near MMR requires careful consideration of various factors to ensure a sound investment. Buyers can make informed decisions by evaluating the location, conducting legal and financial due diligence, planning for maintenance, and understanding the tax implications.
Emerging locations such as Igatpuri, Dahanu, Palghar, Murbad, and Khopoli offer promising opportunities for both personal retreats and long-term investments. With the right approach and planning, a second home can be a rewarding investment and a source of joy for years to come.
The author is Partner, Palladian Partners Advisory Pvt. Ltd.
