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  • January 2, 2020
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About Real Estate Market in Panvel navi mumbai

Second Home Destination: Panvel Navi Mumbai

The SEZ and other projects ‘ rapid development is also bound to create multiple job opportunities. 1 bhk, 2bhk, flat in panvel navi mumbai this will have a domino effect, leading to higher demand for residential properties and higher prices, “Shah adds.

 

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img1: new panvel new property 

 

Throughout time, technology has also improved significantly.Special Economic Zone (SEZ) of the best JNPT (Nhava Sheva) & Rs 4,000cr ported to various infrastructures & projects have made Navi Mumbai rapidly developing hub.

Navi Mumbai has become an ideal location for first-time buyers slowly and steadily and is no longer considered a second home destination, “says Girish Shah, Wadhwa Group’s CEO.

Panvel is the best connected with all the railway’s nodes of Mumbai. Future projects such as the new international airport, the Mumbai Trans-Harbor Bridge and the rail link between Panvel and Uran would boost the transit system.

 

Developments are improving the property market:

Fall Poncha, Head of Residential and Land (Mumbai), Knight Frank (India) Pvt Ltd, agrees that while new property panvel is a middle-class city, it has a promising future.

The creation of the Panvel railway station-cum-commercial complex, the Mumbai Integrated Special Economic Zone (SEZ) in Raigad District, the extension and improvement of the Jawaharlal Nehru Port Trust (JNPT) and the announcement of a new Kopra-Panvel International Airport are boosting the real estate sector of Panvel, “he explains.

The City of Industrial Development Corporation (CIDCO), is biggest the special planning body, has also prepared an interim development plan for the pilot project for future development of 23 villages 1 bhk, flats in Panvel tehsil, “Poncha adds.

In addition, with increased train frequency from Panvel to CST, the extension of the Sion-Panvel highway, and the proposed subway in Kharghar, he maintains, more growth can be anticipated in Panvel in the coming years.

Panvel is witnessing a number of new developments, with good amenities in the form of gated communities and townships. Home buyers are drawn to this city for affordable housing with green surroundings and ample space.

Panvel will certainly emerge as a major real estate hub with proper planning.

 

1 bhk flat for rent in new panvel, 2 bhk flat for rent in new panvel, 3 bhk flat for rent in new panvel, flat rent in new panvel, flats in new panvel, rent flat in new panvel, flat on rent new panvel, navimumbai, flat in new panvel.

img2: property & projects in panvel 

 

The USPs of Panvel:

In Panvel and 2 bhk, flats in New Panvel, property prices are low compared to Mumbai’s prime areas.

There are good schools and colleges in the city.

It is well connected by highways to Mumbai and Pune.

It is near to the planned International Airport of Navi Mumbai and MIDC areas such as Taloja, Rasayani, Patalganga, Roha, and Khopoli. The planned MTHL (Mumbai Trans-Harbor Link), railway lines and the Panvel-to-Vashi Navi Mumbai metro line would give Panvel’s development.

 

Commercial Market Trends:

New Panvel is the primarily residential locality, but it has been witnessing some activity in the commercial front as well. Several new commercial projects are proposed to come up in this area.

 

Factors for Growth in the Future:

Over decade, the market of real estate in new Panvel has shown resilience. The locality is all set to become Major IT hub, dotted with several IT parks.

The Panvel Mega City project, a highly ambitious project implemented by MMRDA, will comprise three parts, namely Energy City, Information Technology and Telecom City, and Entertainment City. The project is expected to create employment opportunities to about 8 lakh people, and is expected to be ready by 2020.

The establishment of the Navi Mumbai airport near New Panvel will turn out to be a key growth factor for the locality. Another key factor will be the proposed Navi Mumbai Metro Rail, which will reduce travel time of commuters, and increase connectivity between the various nodes of Navi Mumbai.

 

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Disclaimer: The views of this expressed above are for informational purposes only based on the industry reports & related news stories. Navimumbaihouses.com does not guarantee the accuracy of this article, completeness, or reliability of the information & shall not be held responsible for any action taken based on the published information.
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