Summary For Old Panvel
Location Summary: Old Panvel
Old Panvel is a well-established locality located in the Raigad district of Maharashtra. The area is known for its serene living environment and well-connected transportation facilities. In recent years, Old Panvel has emerged as a popular real estate destination due to the availability of affordable housing options and the development of new infrastructure projects.
Sales Transactions:
According to the latest real estate market trends, Old Panvel has witnessed a total of 1,464 sales transactions in the past year. This indicates a growing demand for residential properties in the area.
Gross Sales Value:
The total gross sales value of Old Panvel in the past year is estimated to be around ₹ 558 Cr. This reflects a strong real estate market in the area.
Current Rate/Sq.ft:
The current rate per square foot for residential properties in Old Panvel is around ₹ 10,758. This is an affordable rate compared to other areas in Mumbai. However, it is important to note that the rates may vary depending on the location and amenities of the property.
Price Movement:
Old Panvel has seen a positive price movement in the past year, with an increase of ₹ 375 per square foot. This indicates a growing demand for properties in the area, and it is expected to continue in the future.
Overall, Old Panvel is a promising location for real estate investment due to its affordable rates, growing demand, and well-connected transportation facilities. However, it is important to conduct proper due diligence and research before making any investment decisions.
Top Selling Projects for Old Panvel
Navi Mumbai's Old Panvel has emerged as a hotbed of real estate activity in recent times, with a number of top-notch projects being developed in the area. The Top Selling Projects by Value in this locality offer homebuyers a range of options to choose from.
At the top of the list is Kalpataru Park Riviera, which has seen a significant increase in its value by ₹ 466 and is currently priced at ₹ 13,388 per square foot. The project boasts of luxurious amenities and is priced at ₹ 60 Cr.
Simran Uptown Avenue is another top project in Old Panvel, with a current rate of ₹ 15,671 per square foot. The project offers a range of apartments to choose from and is priced at ₹ 19 Cr.
Riverstone is a top-notch project in the area that offers a range of amenities and is priced at ₹ 11 Cr. Susheel Advait, Manasi Smruti, and Sai Arjun are some of the other popular projects in Old Panvel, offering a range of options to homebuyers.
Pushpa Apartment, Gaurisuta Building, Pioneer CHS, and Lakhani La Riveria are some of the other top projects in the area, priced between ₹ 5 Cr to ₹ 6 Cr.
Overall, Old Panvel is a great locality for those looking to invest in real estate in Navi Mumbai. With a range of top projects on offer, homebuyers are spoilt for choice.
Price Trend For Old Panvel
Location Sales Trend: Old Panvel
The real estate market in Old Panvel has seen a steady rise in property prices over the last few quarters. The average rate per square foot for properties in Old Panvel has witnessed an upward trend, as per the data available for the first quarter of 2022 to the first quarter of 2023.
In the first quarter of 2022, the average rate per square foot was recorded at 11,592, which increased to 12,286 in the second quarter. In the third quarter, the rate slightly dipped to 12,001 but saw a marginal increase in the fourth quarter, with the rate recorded at 11,750. The first quarter of 2023 saw a slight increase in the average rate per square foot, with the rate being recorded at 11,822.
Apart from the rise in property prices, the number of transactions in Old Panvel has also increased over the quarters. In the first quarter of 2022, there were 131 transactions, which increased to 137 in the second quarter. The third quarter saw a slight increase with 138 transactions, but the fourth quarter saw a considerable rise with 215 transactions. The first quarter of 2023 saw a marginal dip, with the number of transactions recorded at 211.
In conclusion, the real estate market in Old Panvel has witnessed a steady rise in property prices over the last few quarters. However, the increase in the number of transactions indicates a growing demand for properties in the area.
