Alibaug is a destination that makes the dreams of owning a seaside property achievable. Nestled between the tranquil beaches of the Konkan region and located far away from the fast-paced metropolitan cities of Mumbai, Navi Mumbai, and Pune, Alibaug is the perfect place to own a holiday home.
Here are some of the many reasons why you should consider investing in a holiday home in Alibaug:
The biggest advantage of investing in a holiday home in Alibaug is that you get to move away from the cramped and hectic lifestyle of the city and spend your weekends in a peaceful and serene way while enjoying the lush greenery of the seaside town. Due to its proximity to the bustling cities of Mumbai and Pune, Alibaug is a stone's throw away which means that you get to live your city lifestyle and relax when you need to.
Alibaug has over 11 beautiful beaches along with great weather and several historical places that add to its beauty. It takes a three-hour drive to reach Alibaug from Mumbai or Pune. If you live in South Mumbai, you can also take a 90-minute ferry which starts at the Gateway of India.
The Virar-Alibaug multimodal corridor connecting Mumbai and Alibaug has been given a green light this year. It will be a 128 km road with eight lanes, several flyovers, overpasses, underpasses, and a metro corridor. The road will be able to significantly reduce the travel time and traffic congestion between Mumbai and Alibaug.
Before the end of this year, a roll on roll off ship, also known as RoRo will be introduced on the Mumbai and Alibaug route by Mumbai Port Trust. RoRo will make it easy for commuters to take their cars through the ferry instead of driving them to Alibaug or parking them in Mumbai. The RoRo will be able to accommodate 40 cars, 10 buses, and 250 passengers in one go.
The Navi Mumbai International Airport located on the Panvel Kopra road is also in the development phase and it will just be a 45-minute ride from Alibaug. The massive airport project has also created a big market for property investment in the area with the development of roads, schools, colleges, and new business opportunities.
All the future economic investments in Alibaug have made the town a micro market for real estate investors, developers, and industrial houses.
As a result, the development has also escalated in Alibaug in the last decade. While row houses in the cities usually cost anywhere between Rs 70 lac to 2 crores, bungalows are ranged between 1.25 crores to 7 crores. You can also buy a plot at a minimum price of 10 lac and build your holiday home over it after a few years when you are more financially stable.
To help with loan EMIs, many holiday home owners in Alibaug have also started renting out their homes through portals like Airbnb.
People don’t just want to buy a holiday home in Alibaug but they also want to invest in properties that will give them a good return on investment in the coming years. Purchasing a home in Alibaug allows you to kill two birds with one stone.
While property rates in big cities have almost stagnated, they have appreciated in Alibaug by as much as 3-4 times in the last decade. For instance, plots that were sold at just Rs 250-300 per square feet in 2007 in Alibaug, are worth Rs 1200-1400 per square feet today.
While Alibaug has been popularly known as a holiday home destination exclusively for NRIs, industrialists and famous Bollywood celebrities, the recent developments in the city have expanded its scope to include the growing middle class. Investing in a home in Alibaug is no longer unapproachable - in fact, given your future plans, it might be a favorable idea!