Panvel becomes realty hotspot in Mumbai

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Panvel has transformed into one of Mumbai’s key real estate markets at present, on account of its comparatively affordable prices and of course, prospects of handsome future returns by way of appreciation and infrastructural development. Panvel is well connected to several parts of Mumbai by the railway network, linking both western and central lines and also functions as the gateway to the pristine Konkan region. Panvel offers good connectivity via the Mumbai-Pune Expressway and also the Sion-Panvel Expressway. The upcoming Navi Mumbai airport has been a shot in the arm for real estate in Navi Mumbai, particularly in Panvel which is not too far away from the airport location. The development of the metro line between Vashi and Panvel will also a future development that will lead to real estate prices skyrocketing on account of huge demand. Several initiatives including many affordable housing schemes of the Government have already contributed towards the overall development of Panvel.

There are several industries in Panvel including Oil and Natural Gas Corporation and Hindustan Organic Chemicals Limited. Panvel is expected to offer attractive future prospects in terms of investments. Panvel is witnessing several infrastructural developments and there are several sub-Rs.30 lakh properties here which makes it a hotspot for mid-income property buyers. Panvel is also witnessing the growth of social infrastructure. Reputed educational institutions like the Delhi Public School, DAV Public School and Thakur Arts and Science College are located here along with shopping zones such as the Orion Mall, Mahalaxmi and K Mall nearby.

Projects like the upgrade and expansion of the JNPT (Jawaharlal Nehru Port Trust), development of the Panvel railway station and commercial complex into an integrated SEZ (special economic zone) and the new international airport in Kopra-Panvel are boosting real estate prospects in Panvel according to industry experts. CIDCO has already planned the next phase of development for 23 villages located in the Panvel tehsil. The widening of the Sion-Panvel Highway and more trains between CST and Panvel are other developments that should definitely attract more buyers in the future.

Panvel offers ample natural greenery and the completion of the Nhava Sheva Sewri Sea Link will lower traveling time considerably. Social infrastructure is also growing swiftly and several prominent real estate projects are coming up in Panvel including Akshar Emperia Garden among others.