Satellite Town – Lonavala
A Satellite town or a satellite city is a small metropolitan area in the concept of urban planning. These areas are found near to large metropolitan cities but are independent of them. Lonavala is located between Mumbai and Pune. It has always been a popular tourist destination. It is also considered as the second home for both the cities. Now it is likely to become a satellite town for Navi Mumbai and Pune.
Lonavala will have the benefit of air connectivity if the Navi Mumbai international airport comes into operational existence. And the demand for training centers from corporate houses in Mumbai and Pune are high. Due to which Lonavala has already become a home for several corporate training centers.
There are excellent boarding schools, medicine centers, spiritual retreats in Lonavala. Although it can be said as a senior destination for the living since it has been for decades. This venue can play a fair role to conducting events, conferences, and marriages for celebrities.
Lonavala offers a good quality of living and almost equidistant from Pune and Navi Mumbai. It is situated 53kms from Navi Mumbai and 55kms from Pune. This made hundreds of families to continue their lives in Lonavala and make it as their homes. Anyway, a home cannot be bought directly from other places. First, people have to rent accommodation and then plan for buying homes.
The residential real estate prices have been increased in Lonavala to the range of 7 to 9%. The residential property prices range from Rs.2,800 to Rs.4,000 per square feet.
There are a few developers based in Pune and Mumbai who have already launched projects in the past years. This was started to leverage rising residential demand in the hill station.
The rental rates in some of the popular areas in Pune such as Hadapsar, Viman Nagar, and Nagar road and others range from Rs.14,000 to Rs.18,000. And as such the rental rates in Lonavala is slightly less the rental rates of the areas of Pune. The possibility of the pay is not less than Rs.10,000 in Lonavala at present. And the travel time to Hinjewadi is nearly one hour from Pune and Lonavala. But people in Mumbai are paying Rs.20,000 to 30,000 a month as rent and spending time and money on traveling to their offices in Navi Mumbai. The same time can be spent in traveling from Lonavala to Navi Mumbai with a less range of rents in Lonavala.
So the Satellite town between Pune and Navi Mumbai has almost formed its independence as one of the metropolitan cities.
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