* 29 % individuals want to invest in popular second-home destinations in Maharashtra: Survey
TTT NEWS NETWORK
MUMBAI, 15 JANUARY 2024:
The Mumbai Trans Harbour Link (MTHL) is expected to have a significant impact on the investment landscape for resort homes in Alibaug. This 22 km-long sea bridge will dramatically shorten the travel time between Mumbai and Alibaug to about 45 minutes, making it a highly attractive investment destination.
Several factors are contributing to Alibaug’s increasing appeal for investments in resort homes. Firstly, the improved connectivity provided by the MTHL is a major draw. The bridge, along with enhanced ferry services, will make Alibaug more accessible to Mumbai, elevating its status as a prime location for investment. Secondly, the government of Maharashtra is investing heavily in Alibaug's infrastructure, including public transportation, water supply, and waste management, as part of its Alibaug Smart City project. This infrastructural advancement is expected to boost the standard of living in the area and, in turn, the real estate market.
An earlier survey by Savills India had said that as many as 70 percent of the respondents wanted to invest in a second home priced at Rs 2 crore or less within two years. As many as 29 percent want to invest in popular second-home destinations in Maharashtra. Net yields of Maharashtra properties have been in the range of 4-6 percent, the survey had said.
Commenting from the investment perspective, Dr. Sachin Chopda, Managing Director, Pushpam Group said, “We have recently started the construction of our new resort home Balibaug at Alibaug. We are constructing serviced villas and apartments here and the response that we have seen is commendable. There has been a surge in demand due to the MTHL and other ongoing infra projects in the MMR. The second-home markets near Mumbai such as Alibaug and Karjat may become first-home destinations in the next seven to 10 years due to the impact that these infra projects will create. Our simple value proposition is higher rental yield considering real estate is an appreciating asset and not a liability for investors.”
Alibaug’s natural beauty, with its sandy beaches and lush landscapes, has long made it a popular destination for weekend getaways among Mumbai residents. With the development of new hospitals, international schools, and additional RO-RO vessels and water taxi services, Alibaug is transforming into one of the most sought-after lifestyle destinations. The demand for second homes in Alibaug has seen exponential growth in the last three years, making it an ideal spot for city dwellers to invest in holiday homes. The prospect of rental management services, offering homeowners up to a projected 5% rental yield, further adds to the appeal.
In terms of real estate, Alibaug presents a variety of options, from economical apartments to luxurious villas, catering to different budgets and preferences. The stability of the Alibaug real estate market, with a consistent rise in property prices, positions it as a less volatile investment compared to other markets.
Locally Known As Alichi Bagh, Alibaug Is A Popular Beachside Destination Located In The Konkan Region Of Maharashtra. Surrounded By The Arabian Sea, Its Sun-Soaked Beaches, Historical Forts And Picturesque Picnic Spots Make It A Perfect Weekend Getaway.