Panvel Navi Mumbai Stamp duty on a property bought in Panvel is affected by circle rate. Since its founding, Navi Mumbai—which was intended to be a satellite city of Mumbai—has grown rapidly thanks to the expansion of both residential and commercial real estate. Strong nodes exist in Navi Mumbai, and new neighbourhoods are starting to attract both commercial and residential real estate businesses. Among the city’s strongest nodes is Panvel. It is within the jurisdiction of the Mumbai Metropolitan Region and is situated in the Raigad district. The first municipal corporation in the Raigad area was established on October 1, 2016, and its name is Panvel. The old Panvel has given way to the new Panvel, which features opulent townships and business establishments.

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What is circle rate?

The lowest amount that can be used to register a property for sale or transfer is known as the circle rate. Stamp duty & registration fees at the time of property purchase are influenced by the rate. In the nation, the circle rate is referred to by a number of titles, including guideline rate and ready reckoner rate. It is referred to as the annual statement rate (ASR) in Maharashtra. There are three categories for the ASR: influence areas, rural, and urban.

How can the Panvel circle rate be verified?

• Go to https://igrmaharashtra.gov.in/Home to get the Panvel circle rate on the IGR Maharashtra website.
• Select e-ASR from the stamp’s menu, then select e-ASR 1.9 as e-ASR 2.0, which is still in beta testing.
• Select Raigad. You are going to the next page. Choose the year, village, and Taluka from the drop-down menu. Press the Enter key.
• Details such as the assessment type, assessment range, and rate in rupees will be made available to you.

Residential circle rates in New Panvel

New Panvel circle pricing for commercial

New Panvel circle rates: Shop

What elements affect the circle rate in Panvel?

• Property type: Property types include apartments, flats, standalone homes, multi-story structures, and land used for both agriculture and non-agriculture.
• Infrastructure: Improved connectivity is a result of better infrastructure.
• Demand: The rate is also influenced by the level of demand for the site.
• Growth potential: The circle rate will change if there are opportunities for additional growth in the area.

Panvel: Its location and connectivity

The first city you reach when entering Raigad from the west is Panvel. It is situated on the banks of the Gadhi and is encircled by hills.

Panvel lies along the National Highway (NH-4) that connects Mumbai and Bangalore. It is in close proximity to the Sion-Panvel Highway and the Mumbai-Pune Motorway. By highways and railroads, the node is well-connected to every region of the state and nation. Panvel is connected to Mumbai through the Harbour Line. It is around 10 km from the upcoming Navi Mumbai International Airport (NMIA) and the soon to be inaugurated Mumbai Trans Harbour Link (MTHL).

Panvel’s neighbouring communities include Takka, Khanda, and Panvel West, among others. Panvel is home to prestigious educational establishments including Delhi Public School, DAV Public School, Pillai College of Engineering, and Pillai Institute of Management Studies. It also has healthcare institutions, including Lifeline, Panacea, Paramount, MGM Institute of Health Sciences, and others.

Why should you invest in Panvel Navi Mumbai?

Numerous job opportunities are offered in the area by the expansion of the Jawaharlal Nehru Port Trust and the Special Economic Zones surrounding Panvel. It also features a number of gated communities equipped with the necessities. When looking for a place to live, Panvel offers low, mid, & high residential complexes with options ranging from magnificent 4 BHKs to inexpensive 1 and 2 BHKs, penthouses, and villas.

Panvel Navi Mumbai: Cost of real estate

The average cost of an apartment in Panvel is Rs 8,203, with prices ranging from Rs 2,666 to Rs 16,629 per square foot. In case you’re considering renting a house here, the price range spans from Rs 2,000 to Rs 100,000, with an average cost of Rs 22,629 a month.

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