Ulwe, which is located around 4 kilometers from Nerul in Navi Mumbai, has been identified as a potentially hot residential property investment destination.
Global property consultant Knight Frank's recently released investment destination survey report says that property prices in Ulwe will jump by 145 per cent by the year of 2017.
The report states a number of reasons for Ulwe to grab the top spot in the list of realty investment destinations.
Gulam M Zia, executive director of advisory, retail & hospitality at Knight Frank, said, "The proposed railway connectivity from Ulwe to Seawood, the new airport, Trans Harbour Sea Link and the availability of the parcel of land will help hike rates making Ulwe another Vashi in the next five years."
Property prices in Wadala and Chembur will jump by 133 per cent and 125 per cent respectively because of the proximity to Bandra-Kurla Complex, Monorail, Metro rail, and Eastern Express Freeway.
The report also predicts that unprecedented increase in property prices will not only be registered in Mumbai, but throughout the country. Apart from Mumbai, Pune, Bangalore, Chennai and Delhi have been identified as the top five cities for investment opportunities.