If you have a weekend and don’t know what to do with it, Alibaug is a one-word solution to all your problems. It’s known as “mini-Goa” for a reason, including its tranquil beaches and hills with spectacular views, as well as being a celebrity hideaway away from all the glitz and glamour of the city of dreams.
Alibaug. The name conjures up images of pristine, windy beaches, lush greenery, and the rich and famous’s preferred weekend home destination. However, in recent years, this picturesque coastal town near Mumbai has become increasingly accessible as a second-home destination for those with extra cash.
Ancient forts, temples, forest areas, and numerous beaches add to the town’s appeal as a tourist destination, as does the famous local cuisine. Scuba diving, snorkelling, and sailing are available for those who enjoy sports and adventure.
However, it is not all beaches and tourists. Many district government offices are located in Alibaug. The town has excellent climatic conditions all year, but it is most popular during the winter and is known for its abundant monsoons and for its villas in Alibaug with pool.
Alibaug is a tourist destination but here’s a few reasons why it makes sense to invest in it’s real estate too:
- Developing infrastructure
This year, the Virar-Alibaug multimodal corridor connecting Mumbai and Alibaug was approved. It will be a 128-kilometer road with eight lanes, numerous flyovers, overpasses, and underpasses, as well as a metro corridor. The road will greatly reduce travel time and traffic congestion between Mumbai and Alibaug.
The Mumbai Port Trust plans to introduce a roll on roll off ship, also known as a RoRo, on the Mumbai-Alibaug route before the end of this year. RoRo will allow commuters to take their cars via ferry rather than driving them to Alibaug or parking them in Mumbai. The RoRo will be able to transport 40 cars, 10 buses, and 250 passengers all at once.
The Navi Mumbai International Airport, located on the Panvel Kopra road, is also under construction and will be only a 45-minute drive from Alibaug. With the development of roads, schools, colleges, and new business opportunities, the massive airport project has also created a large market for property investment in the area.
- Affordable property investments
Alibaug has become a micro market for real estate investors, developers, and industrial houses as a result of all future economic investments.
As a result, development in Alibaug has accelerated in the last decade. While row houses in cities typically cost between Rs 70 lac and 2 crores, bungalows cost between 1.25 crores and 7 crores. You can also buy a plot for as little as 10 lac and build your vacation home on it after a few years when you are more financially secure.
Many holiday home owners in Alibaug have begun renting out their homes through portals such as Airbnb, Eko stay candolim, and others to help with loan EMIs.
- High Profitability and ROI
People want to buy more than just a vacation home in Alibaug; they want to invest in properties that will provide a good return on investment in the coming years. Buying a house in Alibaug lets you kill two birds with one stone.
While property prices in major cities have nearly stagnated, they have increased three to four times in Alibaug over the last decade. For example, plots in Alibaug that were sold for Rs 250-300 per square foot in 2007 are now worth Rs 1200-1400 per square foot.
Alibaug’s real estate market has grown by 150 percent in the last decade alone. Property prices in Alibaug are expected to skyrocket over the next decade due to ongoing developments and investments. That is why investors are investing now in Alibaug plots because the ROI is high, and people choose to holiday at villas in Alibaug with pool for which people are ready to make the investment to acquire the property in the first place .
- Proximity to cities
Alibaug is a quiet coastal town in close proximity to Mumbai, Thane, Navi Mumbai, and Pune. While its proximity has made it a popular vacation destination, it is now the reason Alibaug has become an investment hub. Investors are purchasing Alibaug property in order to construct villas in Alibaug and vacation homes.
