Alibaug - A Leading Weekend Destination for Mumbaikars!!!

Alibaug has always been a leading weekend destination for Mumbaikars. It’s proximity to the city makes it very accessible for South Mumbai and for this reason, since the late nineties, Alibaug has seen tremendous growth in the real estate sector with several good developers working here. Apart its proximity to Mumbai, many other factors make Alibaug an attractive second home destination. Not least among these are the availability of a seashore and the possibility of unwinding in low-density housing in natural environs, which is otherwise not possible within Mumbai. Players in the real estate industry working in Alibaug say that with theme villas, serviced apartments, golfing tracks, gated communities and marinas complete with a Mumbai-Alibaug sealink — Alibaug is soon going to become the lifestyle destination to watch out for.

Amongst the long list of Mumbai’s who’s who, Mukesh Ambani, Gautam Singhania, Yash Birla, Anand Jain, Haresh Goenka, the Ruias and the Mittals have also made Alibaug a part of their holiday calendar.

Meanwhile, at a slower pace though, work on the 12-lane Virar-Alibaug corridor has begun after the Mumbai Metropolitan Region Development Authority (MMRDA) completed the acquisition of the required land for this ambitious project. Once completed, this would mean that people heading to Alibaug from Virar can cover 140km in less than 75 minutes.

This announcement from MMRDA last year has already seen a rise in the current rates in Alibaug properties with second home buyers showing keen interest in investing here, which is considered as one of the traditional weekend getaway destinations amongst the residents of Mumbai.

Taking the ground zero realities, it is perhaps safe to conclude that Alibaug has arrived as a second home destination.

Why Invest in Alibaug:

Alibaug is an idyllic town on the Konkan region, about 110 kms south of Mumbai. Spread over a small strip on the Arabian Sea, on the southern side of Mumbai, Alibaug is a destination well known for its beautiful beaches, and a lazy easy-going life reminiscent to that of Goa. The Kolaba, Akshi, Kihim, and Kashid are some of the popular beaches in Alibaug. Apart from these beaches, Alibaug attracts a lot of tourists to the famous Tower of St. Barbara, its historical forts, ancient churches, and synagogues.

Every weekend, Alibaug sees a huge floating population, mostly from Mumbai, who takes a half-hour ferry ride to enjoy its pristine beaches. Owing to this influx of tourists, and reasonably moderate property rates Alibaug today is seen as a hotspot to own a holiday home.

In the past couple of years, Alibaug has also witnessed a lot of economic and commercial activity, including the emergence of large SEZ projects, thus, making it an attractive investment destination, given its high rental returns. While for thousands it remains as a popular tourist destination, for many others is has become their primary residential zone.

Alibaug Real Estate Market:

If compared to neighboring Mumbai, Alibaug real estate market is still moderate and within the reach of an average holiday home buyer. In the last couple of years it has seen a great amount of activity in the second home segment primarily with plotted residential developments including villas and bungalows.

While, villas in Alibaug bordering the sea-line and the highway are mostly in demand, many developers offering serviced studios, 2/3 BHK apartments in Alibaug are also equally appealing to the budget holiday home buyer.

Alibaug beach-side properties invite huge premium compared to hillside plots. Plots in Alibaug which are on the beach are 4-6 times expensive than the hilly areas.

Property Rates in Alibaug:

Property prices in Alibaug have more than doubled over the last four years – much of this growth is attributed to buyers looking for second homes and holiday homes in Alibaug.

The land prices in Alibaug vary across the region. Vicinity to the sea and the highway plots are in the prime category, with prices to match. A plotted property with a sea view can easily exceed a ticket size of Rs. 5-6 crore/acre, while agricultural properties in the hinterland would be priced more modestly at Rs. 30-40 lakh/acre. Hillside plots in Alibaug are available for around Rs 5 crore per acre.

Apartments meanwhile are priced between Rs 20 to 30 lakhs for an 1BHK unit, Rs 34 to 36 for 2BHK units and anything above Rs 38 lakhs for 3BHK apartments. However the pricing may differ by a couple of lakhs depending on their proximity to the coastline and the common amenities/ facilities offered by the developers. There are also many plotted schemes offered by developers, with sizes varying from 1000 to 5000 square feet. The prices for such plots range from Rs. 1000 to 3500 per square feet, depending on the view, access roads, infrastructure, etc.

Lonalava has a lot to offer a holiday home buyer!

Lonalava has a lot to offer a holiday home buyer both in terms of individual pleasure and rental!

Unlike other upcoming holiday home destinations in the vicinity of Mumbai and Pune, Lonavala has always been considered as one of the best holiday home destinations to invest. Why we recommend Lonavala to our readers is because of the fact that this picturesque hill station is located in the Sahyadri range and is only 2 and half hour’s drive from Mumbai has everything you can ask for when you are on a vacation. It is at a distance of just 96 km from Mumbai and just 64 km from Pune, making it easily motorable and accessible from both these cities. Lonavala also has a major railway station on the Mumbai-Pune line and hence, can be easily accessed by taking a train too.

The Lonavala property market is booming due to several reasons, the foremost reason being the hill station’s proximity to Pune and Mumbai. The hill station sees a great flow of tourist traffic throughout the year which has led to considerable development of the real estate market with considerable demand for holiday homes, private bungalows, villas and apartments.

Why You should Seriously Consider Buying a Holiday Home in Lonavala:

So, imagine owning a holiday home in this hill station! You can take a trip to this weekend getaway, with minimal expense and without the headache of having to make any hotel booking.

Plus, if you’re a holiday home owner, has the thought crossed your mind that the hundreds of visitors who come to Lonavala can be your prospective customers? And that’s not all! You can get your holiday home to pay your monthly home loan EMI too! In a nutshell, owning your own holiday home in Lonavala gives you freedom as well as extra income. Wondering how? Read on…

Due to the proximity of Lonavala to cities like Pune and Mumbai, there is a booming rental property market in Lonavala, with many people looking for rental homes to come and spend holidays here instead of staying in a hotel. Today Lonavala villas or bungalows as well as 1BHK to 3BHK apartments are commonly available for short-term rent for tourists who come to spend their weekend here.

While, on one hand after the initial investment of buying and furnishing your property, you and your family can enjoy breaks all the year round, on the other hand when you are not staying in your house, you can let guests come and stay. Since Lonavala witness huge number of visitors the year around, getting guests is not difficult at all.

Today some of the best developers/builders dealing in holiday homes in Lonavala are designing properties which are contemporary, relaxing and replete with cushy comforts, allowing you to provide your guests the opportunity to rejuvenate their senses in a serene, green environment.

In the current scenario, the time is right for genuine buyers to acquire a second home in Lonavala because there is a wide choice of properties to choose from, depending on one’s budget. Moreover, there is a booming demand for holiday homes in Lonavala owing to the fact that it makes for a viable economic investment for the buyer as well as the developer.

Buyers who have bought holiday homes in Lonavala have seen handsome returns on their investment by letting out their properties to guests. The prices of properties are pretty competitive compared to other hill stations in the country due to low construction costs, easy availability of labour and construction material. Plus in many other hill stations in India, there are many restrictions for outsiders buying property, unlike in Lonavala where the restrictions are not many. Today there are several bungalows on rent in Lonavala which are being rented by guests for holidaying here.