Panvel has turned into one of the prime residential destinations in Navi Mumbai owing to rapidly growing infrastructures, smooth connectivity and affordability. Panvel has witnessed a 2.5 % YOY appreciation and many more reasons to look at. Check out the article to know more reasons and get insights on why you should invest in Panvel.
One of the affluent and prime residential hubs Panvel is the most affordable locale to invest in Navi Mumbai.
It has gained attention since the announcement of the International Airport in 2010. The property rates in panvel have hiked in doubled since then.
Panvel has always been the top choice for second homes in Navi Mumbai because of its close connections to Alibaug and Pune.
The area is separated into Old Panvel and New Panvel, and it is situated along the Mumbai-Pune Expressway.
The New Panvel has witnessed the birth of various residential projects, whereas the Old Panvel still retains its expansive lush flora and panoramic views.
Also, CIDCO has plans for many future infrastructural developments here which will grow real Estate in Panvel.
Here are the top 5 Reasons why you should invest in Panvel.
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Blooming Real Estate In Panvel
Panvel, which is in the centre of Navi Mumbai, offers its citizens many benefits.
With its world-class infrastructure, rich natural history, and potential for future infrastructural growth, Panvel is witnessing an increasing trend of immobility.
Many leading developers have come to panvel and develop luxurious residences and township projects.
Dharmesh Thakkar Homebazaar.com AVP said in recent discussion, “Panvel has benefited from its status as a key junction point connecting Mumbai and Pune. The presence of the Navi Mumbai International Airport project, which was underway at that time, further fueled the interest of real estate investors and homebuyers.”
The locality is known for affordable housing which lures many middle-class working professionals to invest in Panvel.
The properties in Panvel and the nearby locales are more affordable than in Mumbai.
Panvel offers all types of residential categories from flats, and villas, to top-notch luxurious apartments.
The average property rates in Panvel range between Rs 6,500- 8,500 per sq ft.
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Property Rates In Panvel BHK wise |
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|
1 BHK |
2 BHK |
3 BHK |
| Rs 21-36 L | Rs 39- 65 L |
Rs 68 L – 1.10 Cr |
Growing Infrastructure To Invest In Panvel
The price of the property is based on the city’s infrastructure. The arrival of the new airport’s commercial operations will lead to an increase in residential development.
As the work moves forward steadily over time, the excitement around Navi Mumbai among buyers or buyers is still upbeat.
The Panvel to Vashi metro line is Panvel’s real estate epicentre.
The local real estate sector is already undergoing excellent growth.
Additionally, Panvel has established itself as a significant sector in this area thanks to government programmes like affordable housing.
Social Infrastructure
There are numerous educational institutions in Panvel. These include Karnala Sports Academy, MGM College of Engineering & Technology, Pillai College, and Mahatma Phule Arts, Science, and Commerce College.
Numerous reputed medical facilities, including Lifeline Hospital, Paramount Hospital and Sahasrabudhe Hospital, are also located in the neighbourhood.
Orion Mall and a number of excellent restaurants are nearby for dining and shopping.
Smooth Connectivity Options To Invest In Panvel
Panvel offers great connectivity options via Railway and roadways. The city is connected to Mumbai very efficiently.
The fact that Panvel is regarded as the entry point to the Konkan territory is extremely important to notice because it makes travelling from one state towards another quite simple. Both the Panvel-Sion roadway and the Pune-Mumbai expressways are connected which makes travel to Pune, Kolhapur and other cities easier.
This proves a solid case to invest in Panvel property since it is quite convenient to go from one location of the city to another.
Panvel Railway junction operates around 116 suburb trains to Thane, Andheri, Mumbai, and other outstation destinations.
Upcoming Developments
Upcoming Navi Mumbai International Airport, Navi Mumbai Metro and Mumbai Trans Harbour link will reduce travel time and also will grow the real estate demand in the Panvel region.
Panvel will have a direct connection to the projected International Airport of Navi Mumbai, which would lead to major growth in the area’s retail and hospitality industries.
Affordable Properties In Panvel
Panvel is developing and upgrading day by day with affordable housing options available suitable for any individual.
The project ranges from various options in Panvel from apartments and bungalows to premium residences and more.
Real estate developers anticipate that a sizable portion of buyers of properties in India will be NRIs.
NRIs should think about investing in Panvel as it is quickly growing in popularity with investors.
1 BHK flat in Panvel and 2 BHK are more in demand.
Prospective Rental Market To Invest In Panvel
Investing in Real estate is always a good way if looking for consistent returns.
Panvel has the potential to develop into a sought-after vacation rental neighbourhood for tourists in the future because of its closeness to Karjat, the Karnala Bird Sanctuary, Raigad Fort, Haji Malang, Prabal Gad, and the Elephanta Caves.
Included among the area’s tourist attractions are Matheran, Alibag, Gadeshwar Dam, and Ballaleshwar Pali.
Panvel has seen an 8% rental yield which is a profitable investment option and a reason to invest in Panvel.
The significant influence on consumers’ purchase decisions is from the possibility for significant economic and infrastructure improvements in that particular area must be viewed as the best return on investment element.
Is Panvel Good For Real Estate Investment?
The ideal area to spend the evening with your family members is rumoured to be Panvel.
The best educational institutions, upscale nightclubs, restaurants, hospitals, and medical facilities are all available in Panvel, which is also equipped with cultural and social attractions.
A well-planned city, Panvel boasts incredible amenities and services. There are numerous gyms, banks, clubs, restaurants, recreation areas, clubs, and much more.
Additionally, there are contemporary educational facilities with the top colleges and universities. With the aforementioned crucial elements, this emerges as one of the finest investment opportunities for you.
FAQs
| Is Panvel a good place to live?
The Panvel area has significantly grown during the past few years. The appeal of Panvel as a place to live has expanded thanks to its high-quality social infrastructure, connection, and planned growth. |
| Is Panvel a posh area?
Panvel is one of the posh areas to live in Navi Mumbai. The city offers numerous inventories from mid-segment to premium. |
| What is special in Panvel?
Panvel has developed over many years and offers great connectivity, infrastructures and peaceful residences. There are many places for which Panvel is special such as Karnala Bird Sanctuary, Matheran, Gadheshwar Dam and much more. |
| Which is better Ulwe or Panvel?
When you compared Ulwe and Panvel, both localities offer affordable housing, seamless connectivity and Social infrastructure. One thing which makes Ulwe a little preferable is its proximity to near employment hubs. |
