Balumia ResidencyOld Panvel, Navi Mumbai

Old Panvel is one of the prominent residential zones in Navi Mumbai. There are several big ticket projects being developed by leading players like Mango, Kalpataru, Lakhani, Marathon and Arihant in this area. There are several advanced and mid stage projects and 1 and 2 BHK apartments are predominantly available in the area. Demand for property in Old Panvel has gone up by leaps and bounds with better connectivity and infrastructural developments. The civic transport body has already launched its bus service between Sai Nagar in Old Panvel and the Panvel railway station. This offers access to the railway network and boosts connectivity for residents as well.Buses are available at regular intervals as well. Old Panvel has a population crossing a lakh and falls under the Panvel Municipal Council’s jurisdiction. The area has the maximum potable water supply in the entire region. The area still retains its pristine charm and natural vegetation to a large extent. There are several developments that will actually spark better development and realty growth in the area. The proposed ocean interface of 22 kilometres between Nhava Sheva and Sewri will definitely make connectivity to Mumbai that much easier. The proposed International airport in Navi Mumbai will also boost overall growth in this region along with its commercial prospects.The Delhi-Mumbai Industrial Corridor will also benefit residents of the area in terms of overall infrastructure development. Property prices have gone up by approximately 11.11% in the area as per Q3 2015 and average prices stand at around INR 6, 283 per sq. ft. for the same period here. The affordable property prices and upcoming developments make Old Panvel a good place to snap up residential property both from an end user and investor perspective. Popular projects include Lakhani La Riveria, Marathon Nexzone, Kalpataru Waterfront, Kalpataru Riverside, Kailash Uptown and M.B. Lotus Court to name just a few.