Real estate market of Panvel has a constant demand for budget homes and is highly price sensitive that has come up to the expectations of many real estate investors and buyers belonging to mid-income category.
The budget housing category in Panvel witnessed a huge uptake and demand, when compared to other categories such as ultra-luxury and premium housing which continues to witness steadiness and stability. End users as well as real estate investors always hunt for a property that comes under the limit of city, has good area and size and also facilitated with good and basic amenities.
Contributing to the demand of budget housing and piled up with different segments of real estate properties, Navi Mumbai has evolved itself as a heaven for property buyers, whether it is for investment purpose or for dwelling purpose. Still in the developing stage, the area has a high potential and resources which are yet to be unleashed.
As people from rural and several urban areas are moving to Mumbai to pursue a better carrier, it has led to a high demand for the residential and commercial properties in Mumbai. And due to this tremendous demand the price of the properties have also risen to a peak, for which a middle class person has to plan a lot on their financial factor to afford one. And hence, Navi Mumbai area was carved out in the seventies to meet the growing demand for real estate which could not have been met by highly priced city like Mumbai.
Navi mumbai city has emerged as the satellite town to serve for the rising demand of real estate properties in Mumbai.
Tagged for the largest plan city in the country, whether in the commercial or residential segment, the real estate market of the city serves a great chance for the property investors and end users to invest into real estate or buy a dwelling.
Due to its emergence in corporate sector with IT and SEZs Park; the area has gathered lot of importance and value. Many shopping malls are coming up in the locality with various other civic facilities.
The potential of city for buying a property for living or investment segment is just tremendous. The realty market of the locality is in the growing phase and the real estate professionals expect that the property investment in real estate market of Navi Mumbai will get good return to the price sensitive buyers as well as the buyers with good wealth, in coming years.
The locality has witnessed a rapid development and is likely to remain in the same process in the upcoming future as well. And to further enhance the value and drive up the demand of real estate market of the area, there are many developmental projects coming up in the locality.
Considered for having an area of 300 sq kilometers, the city stretches from Airoli to Uran. And it is well organized and immaculately connected to a famous land Mumbai.
CIDCO (City and Industrial Development Corporation) has undertaken the responsibility of developing the city in a well-organized manner. And the efforts of CIDCO’s have proven to be very fruitful and hence it has all the ingredients and facilities to establish itself as a world class city.
Divided into 14 nodes Navi Mumbai facilitates orderly development. Nodes such as Pushpak, Vashi, Ghansoli and Panvel are the main nodes of the city while other evolving nodes include Belapur, Sanpada, Jui Kamothe, Kharghar and kalamboli. These nodes are evolving as the attractive spots for purchasing properties. Each has different characteristics and hence differs in their growth factors as well. Therefore the investor as well as the end users should be very careful and smart enough to pick the node which is best as per their budget and requirements. And Panvel node is the best node as per the budget housing as well as facilities around it.
Panvel’s huge demand for affordable property comes from an array of price sensitive buyers from various locations of the country and it mainly comprises of middle class citizens. While looking for an affordable housing these real estate buyers also look for the house that meets the threshold of basic lifestyle requirements. And Panvel very well meets the expectations of these types of home buyers.
It has been identified as one of the growth corridors for Navi mumbai that is seeing development at fast pace in all aspects – and, importantly, boasting of property prices that are still favorable for the middle class.
The locality has close proximity to MIDC (Mumbai Industrial Development Corporation) areas such as Khopoli, Roha, Patalganga, Rasayani and Taloja, thus attracting people from these locations as well.
For end-user and investors demand, the target properties are 1 BHK and 2 BHK flats in the locality of Panvel. There are several reasons why people are selecting Panvel for their budget homes and some of them are listed below.
THE REASONS TO INVEST OR BUY A PROPERTY IN PANVEL
- Property cost.
The property cost, is the first concern for any individual who is going to purchase a property. The cost of any property should fit in a budget that a normal middle class person can afford and the locality aiding to this demand, has ample of residential and commercial properties to cater for budget homes.
For middle class category, the houses or properties that come under the range of Rs. 35 lakhs to Rs. 50 Lakhs are the most demanded and hottest properties. Many builders who feeds to this call and are most sensitized to the price-sensitive buyers, offer all-inclusive packages that include all the usual costs of buying a property such as registration fees, Stamp duty, VAT etc. And the residential properties in Panvel provide affordable flats ranging between INR 20 Lakhs- INR 60 lakhs.
- CONNECTIVITY CHANNEL
Panvel has close proximity to Pune Express Highway, which provides an easy commute for the people travelling from Panvel to Pune. Railway lines effectively links the area to different locations of the city, eventually guaranteeing accommodation to all its inhabitants. The Panvel Railway station is just at a distance of 6 km from Thane railway station.
The nearby developments of the harbor line in Central railway between western lines and Panvel and the CST station, are joined via Wadala Station.
Navi Mumbai Transport buses are easily accessible from the locality and they frequently run between hubs, stations and internal divisions of the area. Panvel Railway station has emerged as the end station for Mumbai’s harbor line railway.
The locality also has close proximity to Navi Mumbai International Airport.
Auto-richshaw services are also available in the area that has minimum fare of around Rs. 10 for sharing rickshaws, which helps the commuters reach the internal points of locality easily and comfortably.
College and school facilities are also available. Some of the well-known schools and institutes in the locality include, Pillai college of Engineering, CKT College, New Horizon Public School, Shantiniketan public School etc. Also hospitals and Banks are at short distance from numerous residencies of the locality.
- TOURISM SPOTS:
Surrounded by many beautiful places and temples, the area has great visiting importance for the devotees as well as the tourists’. Some of spots include, karnala Fort which is just 10 km from the area, Karanala Bird Scantuary, Gadeshwar Dam which overflows during monsoon and has an amazing view, Alibag, Matheran, old Jama Masjid-one of the ancient monument in the area, Ballaleshwar Pali, Varadvinayak- a temple of hindu god, Ganesha and many other places.
Budget Homes in Panvel
Panvel has many residential properties in the locality by the renowned and reputed developers.
And due to fact that many people have their work place in this area; individuals are looking for budget homes from which they can easily commute to their workplace without any hassle. Panvel has a lot to offer in budget housing segment.
Developers are playing a crucial role in transforming the real estate landscape of the locality. They have planned and created their best landmarks that serve to everyone’s pocket in real estate sector. Also the locality has expanded enough and serves as an offer for second home purchase as well.
Here are some affordable residential projects in Panvel by well-known developers in Navi Mumbai:-
Marathon Nextzone by Marathon Realty offers affordable 2 BHK and 2.5 BHK flats. Amenities provided by the project include Club House, Multi-purpose Court, Tennis Court, Gymnasium etc.
Lakhani La Riveria by Lakhani builders comprises of 1 BHK and 2 BHK flats with price rate starting from INR 60 Lakhs. The residency is facilitated with best of basic as well as amenities to provide the comfortable and peaceful life to its residents.
SaiRaj Golden Empress by SaiRaj Constructions, offers 1 BHK, 2 BHK and 3 BHK flats, which satisfactorily caters to budget housing.
Vaastu Siddhi Group’s residential property i.e. Landmark Riverside provides 1 BHK and 2 BHK flats for sale with price rate starting from INR 16.5 Lakhs. Spread over 4.5 acres of land, Landmark Riverside is a multi-storeyed project with 23 Towers.
Properties like Kalpataru Waterfront, India Bull Greens etc. are some of the other properties offers luxurious housing in Panvel. Amongst all the developed and developing hubs of Navi Mumbai, Panvel is a rapid developing node in the city. An undoubtedly quick progress in the lands of Panvel and its great transit channel to Alibaug and Pune, has grabbed the sight of many end users and the property investors from this localities.
There are many more infrastructural developments in pipeline and the commercial and residential constructions in the locality have expanded to a great extent to fulfill the interest of price-sensitive as well as other property buyers.