Though City and Industrial Development Corporation's attempt to attract
non-resident Indians (NRI) to the satellite city almost failed after
Seawoods Estate Part I, Navi Mumbai still attracts NRIs interest in
settling down in the city, thanks to different infrastructure projects
that are underway in the city.
The fact is quite clear seeing the huge numbers of NRI funding projects
that are coming up in areas beyond Panvel which are being developed
by different corporate firms. Some city-based developers also receive
calls from foreign investors daily with the mails clogged with emails
enquiring about the plot rates in city. And the investment flowing in
the city is between Rs 500 crore and Rs 30,000 crore with plots beyond
Panvel along Uran being in huge demand.
One of the senior officials from Hiranandani, who are developing a
project near Panvel, said that areas along Mumbai-Pune and Mumbai-Goa
highways are developing. "These projects have investment from foreign
companies and according to rules FDI to the extent of 100 per cent is
allowed now," the official said.