Real Estate Future of Panvel
Panvel is divided in to New Panvel East, New Panvel West and Old Panvel. Within five years, Panvel has transformed in to a first home destination from the holiday home destination. The upcoming infrastructural developments, excellent connectivity with Mumbai – Pune and availability of residential units is providing Panvel a growth potential and making it an ideal residential location.
Infrastructure and connectivity
Panvel enjoys a good roadways and suburban railways connectivity. The frequency of the trains has also increased recently, connecting Panvel to both, CST and Thane. This is one of the main reason Real estate developments in Panvel. The proposed airport in Navi Mumbai and a 22.5 km six-lane Trans Harbour link that will connect the south Mumbai to Nhava Sheva are some of the upcoming infrastructure projects.
Located on the eastern side of the Mumbai-Bangalore National Highway and the Mumbai-Pune Expressway, Panvel is one of the best locations as far as road connectivity is concerned. The Sion-Panvel Expressway, NH-17 and NH-4B starts from the Panvel. Its direct connectivity to the Mumbai-Bangalore National Highway and the Mumbai-Pune Expressway provides it the good road connectivity to the major cities.
Panvel also has a very well developed social infrastructure. It has international schools, engineering and multidisciplinary colleges, multi-speciality hospitals, shopping malls, entertainment centers etc.
Price trends
Property price in Panvel are still affordable. The New Panvel has seen an increase of 15% in last financial year. The property prices ranges from Rs 4400 – 4700/- per sq ft. in this locality. While the Old panvel has been more in demand and has seen an increase of 27% in the property prices. The property prices ranges from Rs. 4300 – 5600/- per sq ft. in Old Panvel.
New and upcoming projects
‘Marathon Nexzone’ is a planned township project launched by Marathon Group. This mixed use township is spread over 26 acres. It includes retail zones, entertainment avenues and commercial zones. This project has a great location as it is in close proximity to the Palaspe Phata (Junction of NH-4, NH-17 and NH-4B), it is just Seven Kilometers from the proposed Navi Mumbai Airport, Three kilometer from the Panvel railway station, four Kilometers from the Panvel bus terminus, 20 minutes’ drive via Palm Beach-Amara Road to Vashi and 15 minutes’ drive from Kharghar central park.
One more Big project spread over 25 acres is launched by Kalpataru Constructions. The project is named as Kalpataru Riverside; in the Phase I, it has 14 multistory residential towers and offers reasonably big 2 – 2.5 Bhk apartments. It is located 2 km from the Panvel railway station and the upcoming Airport is in the close vicinity.
Other than, this Ornate Spaces Pvt Ltd is also planning to launch Ornate Escapia in Panvel.
Advice for Buyers:
Panvel is a good investment option for long-term investors as the two major infrastructure developments, the New Airport and the Trance Harbor link will be function after 10 – 12 years only. It is a good market for end-users and the preferred residential localities in New Panvel are Sector 1S, 2, 3, 12, 15A, 17 and 19. Thana, Naka road, MCCH Society, Bawan Bangala, and Sawarkar Ali are the preferred residential localities in Old Panvel.
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