Panvel Becomes Top Real Estate Destination in Navi Mumbai

Panvel Becomes Top Real Estate Destination in Navi Mumbai

Panvel, which was once a sleepy town known for the farmhouses built for the rich and famous, has transformed its image into the most anticipated real estate destinations – be it industrial parks or affordable homes – in Navi Mumbai. This area has seen several upcoming projects like the ambitious NAINA (Navi Mumbai Airport Influence Notified Area) and Navi Mumbai International Airport. Several top businesses and home buyers are showing their great interest in investing in this suburb. A lot of five star hotel brands and hospitality companies have bought huge acres of land around Panvel with a hope to get huge business once international airport gets operational.

Panvel has the long-back history of around 300 years. Now it is working to its benefits because it is connected to both Konkan regions along with Ghat region in South Maharashtra. In recent years, this region has got huge prominence at a rapid rate, especially after the clearance of airport project. The clearance of airport project is showing rapid growth of infrastructure and government is taking steps to improve the connectivity of this area with other major parts of the state and Mumbai. The planning of improved frequency of train from Panvel to CST, spreading Sion Panvel highway to 10 lanes, and the launch of Metro rail in Kharghar in first phase will gradually increase connectivity to international airport and some other major developments.

In Panvel, one of the major home-buying attractions is availability of affordable housing. Once CIDCO was assigned as a planning agency and news of development of international airport was out, the planning has been conducted for the 25 km radius from the airport and development is running at a great speed. A lot of leading developers are heading to Panvel with their latest projects. The best part is that housing prices are affordable when compared to Navi Mumbai. A homeowner can easily own a decent house here with the budget of just Rs. 20 to Rs. 25 Lakhs. The upcoming Nhava-Sheva-Sewri sea link of 22 km will also change its horizons while bridging the gap between Panvel and Mumbai.