Sleepy Panvel Becomes Leading Real Estate Hotspot

Sleepy Panvel Becomes Leading Real Estate Hotspot

Once considered as a sleepy locale, known for having farmhouses of the riches, Panvel has just changed its image in few years and become the most anticipated real estate hotspots, be it business parks or affordable homes, in Navi Mumbai. Several upcoming real estate projects like the most awaited NAINA (Navi Mumbai Airport Influence Notified Area) and Navi Mumbai International Airport have led a great impetus to the realty scenario in this locale. Several top businessmen and homebuyers are showcasing keen interest to improve investment opportunities. A lot of 5-star hotel and hospitality brands have bought huge tracts of landscapes across Panvel while considering the business and it will be generated once international airport goes operational.

Panvel is the location with the history of around 300 years work with its benefits and it enjoys connectivity to both Ghat region and Konkan area in South Maharashtra. It has gained huge prominence over the past few years at rapid pace, just after the clearance of airport project. An international project is also getting clearance here and it will see rapid infrastructural growth and government has taken steps to boost connectivity in this region with various parts of the state and Mumbai. Improved Panvel-CST rail frequency, 10-laning of Sion-Panvel Highway, and development of Metro Rail in Kharghar at first phase will gradually improved connectivity to international airport. These are some of the major infrastructural developments to be taking place here within few years.

For home buyers, one of the leading attractions is affordable housing in Panvel. Once the update about development of airport starts floating and CIDCO appointed as planning agency for 25 km radius from airport to conduct planning, the area has seen development at a great pace. A lot of leading real estate developers has launched their projects and rates are really very affordable in this area. You can get decent apartment for around Rs. 25 to Rs. 30 Lakhs. The upcoming Nhava Sheva sea link (22km) will also change the horizons of this landmark as the separation wall between Panvel and Mumbai. Delhi Mumbai Industrial Corridor will also improve logistics and business for North and West India.