Alibaug – yes, it is worth the hype!by Sila Group Real Estate Services & Development Company in Indi
The growing interest in the town has further necessitated an increase in infrastructure that ensures hassle-free accessibility reducing the time and cost to travel to the coastal town.
The game changing the roll-on-roll-off ship, also known as the ‘RORO’ has been eased the commute between Mumbai and Alibaug since mid-2020. With the capacity to ferry over 125 vehicles and 500 passengers, even during monsoons, the RoRo service makes it easier for commuters to take their cars on the ferry instead of driving them to Alibaug or parking them in Mumbai. This has also helped Alibaug become a year round destination compared to the past when the pot hole filled roads and long commute, deterred Mumbaikar’s for 3-4 months during the monsoon season.
Another project that will have a positive impact on accessibility from Mumbai to Alibaug is the Mumbai Trans Harbour Link (MTHL), a 22 km bridge across the harbour from Sewri in Mumbai to Nhava on the mainland. Along with the proposed Karanjia to Rewas bridge, the driving distance from east/central Mumbai to Mandwa will be around 60kms.
The Virar-Alibaug multimodal corridor is a 128 km road with eight lanes, several flyovers, overpasses, underpasses, and a metro corridor that will also have an impact on commute once completed. The project, which is already under construction, promises significantly reduce travel times between North West Mumbai and Alibaug.
There is also a Marina also planned at Mandwa, but we haven’t gotten a firm update on this project as on date.
Owing to the pandemic, Alibaug has also quickly transitioned into a promising investment destination. With land prices having risen by over 300% in the decade in most villages across Alibaug, this growth in prices is significantly higher than in Mumbai during the same period. The rise in gated communities and condo developments like Inner Circle, Oasis and Ekaante, is a testament to the market maturing from being a second home destination for the UHNI (Ultra High Net worth Individuals) of South Mumbai, to affordable options across price categories.
Another development on the real estate front is the increase in FSI (floor space index). FSI for the layman, determines the amount of area one can build on a piece of land. This increase in FSI has enabled home buyers or investors to buy smaller pieces of land to build a home v/s in the past.
Alibaug also offers a yield play, reasonable ROI (return on investment) for those investing in property which is put out on rent by players like Lohono Stays, Saffron stays, Vista Rooms, Spree etc.
Alibaug is also popular location for adrenaline chasers and offer a wide array of activities like jet-skiing, paragliding, and challenging treks. From beaches, to farms, temples, synagogues, dargahs, and more, the island is rife with history, and has many stories to tell.
Alibaug also many upcoming restaurants offering a huge variety of cuisine ranging from local Maharashtrian coastal cuisine to Asian, Lebanese as well as Italian with the added convenience of door-to-door delivery.
The seaside town also offers options for shopping and art enthusiasts with many pop-up stores and concept stores offering a host of lifestyle accessories, curated furniture, textiles, wall art, fragrances, imported gourmet snacks, organic produce etc. elevating the living experience.
Interested in Alibaug real estate? SILA is a Real Estate platform with operations in over 75 cities, managing 60+ million square feet of assets with 6000+ employees. Contact us, or visit us at Inner Circle today to learn more about our project in Alibaug.
Created on Jul 23rd 2021 07:19. Viewed 97 times.