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Riya Tayal | 06 Jan 2023

Why is Panvel in Navi Mumbai One of the Most Growing Real Estate Hubs?

Why is Panvel in Navi Mumbai One of the Most Growing Real Estate Hubs?

Owning a house in Mumbai is what every home buyer dreams for! Most people, unfortunately, cannot continue their wish of owning a house in Mumbai due to ever-ascending rental fares and high property prices. This is one of the reasons why property buyers are hunting for an optional area near Mumbai where they can buy their dream home at a price that can fit easily within their budget. Hence, what would be a better spot than Panvel to purchase a property in Navi Mumbai? 

Yes, Panvel is, fortunately, one of the potential real estate hubs near Mumbai after the declaration of the forthcoming International airport. Panvel is a fast-rising real estate centre that has a high possibility for a future upswing due to the prospective infrastructural advancement. The houses or properties in Panvel offer potential homebuyers spacious possessions at their desired prices, and this makes Panvel the topmost choice when it comes to affordable living. 

If you are still wondering about what makes Panvel one of the most growing real estate hubs in Navi Mumbai, then we will list down some facts for you. Have a look!   

1. Sufficient place

The main factor that makes Panvel an ideal place to own a house is the availability of sufficient space. Since a large quantity of land is appropriately distributed to the real estate developers and builders, a ton of real estate residential and commercial projects are coming into existence in the Navi Mumbai area. This makes a large number of flats and properties available for investors and home buyers. Even most real estate investors are showing their interest in buying a possession in the Panvel region for its highly spacious structure, greenery around it, and massive availability. 

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2. Upcoming infrastructural projects

Another thing that makes Panvel the highly growing real estate hub in Navi Mumbai is the upcoming infrastructural development in the area. There are a vast number of exhilarating infrastructural projects coming up in the Panvel region in which the Navi Mumbai International Airport is a remarkable one. The proposed infrastructural project, i.e. Delhi-Mumbai corridor will transform the overall prospect of Navi Mumbai by boosting the businesses between North India with Maharashtra. These factors altogether will bring about a significant change in the real estate trend of Panvel. 

3. Cultural and social life

Panvel has a handful of spots where you may go for a one-day getaway and unwind in the amazing outdoors. You can spend a happy day with your family or loved ones at the Karnala Bird Sanctuary, trek up the Karnana Fort for a bird’s eye view or take your kids to the Small Eco Park for a cheerful time. You can also explore renowned temples like Varadavinayak and Ballaleshwar.  

4. Control over the price by CIDCO

Control over the price by CIDCO is another important reason that makes Panvel a fast-growing real estate hub in Navi Mumbai. Since the significant quotient of land in Panvel is allotted by CIDCO, i.e. City and Industrial Development Corporation of Maharashtra, the prices of the properties here are also controlled by CIDCO. This is the reason why a large number of people or homebuyers from every income segment become able to buy a flat in Panvel within their budget. 

5. Government proposed lands for a real estate development

Another major reason behind the striking growth of Panvel as a real estate hub is the approval. The approval of giving more than 350 acres of land to private real estate developers by the City and Industrial Development Corporation of Maharashtra has made Panvel an affordable place to buy property in. For this land approval, the low budget flats also came into existence in a large amount, as well as the premium flats. 

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6. High investment returns in future

You will be surprised to know that purchasing land in Panvel is one of the wisest investments after gold purchase. It is highly crucial to invest in the right real estate locality at the right time. Hence, purchasing a new house in a spectacular location like Panvel in Navi Mumbai is a profitable investment. By all means, one can expect the highest investment return in the future. 

7. Booming real estate

Panvel, located in the heart of Navi Mumbai, offers its residents a variety of location benefits. With its world-class infrastructure, natural backdrop and upcoming infrastructural developments, Panvel in Navi Mumbai is seeing an upward trend in the real estate market. Many popular real estate developers are now coming up with premium residential projects here. This will make Panvel one of the most desirable places to live in. All in all, the region is also known for its affordable housing segment, which is another good reason for middle-class earners to invest in Panvel real estate. One can easily find a property up to 30 lakhs in Panvel and nearby areas. This altogether makes low budget houses in Panvel an excellent reason for real estate investment. 

8. Growing business hub

Finally, the last integrating reason behind the progress of Panvel is the existence of a plethora of corporate houses around it. The establishment of more commercial houses means more chances of employment which in turn has an indirect effect on the real estate trend of Panvel in Navi Mumbai. In short, the more chances of employment in the region can make the people bound to buy a possession here. 

All these things make Panvel the primary choice for potential homebuyers in Mumbai. Panvel is rapidly changing its exterior due to growing infrastructure and amenities like colleges, schools and hospitals. This spot will soon become a residential hub as well as a commercial hub because of the factors stated above. You can also connect with us at +91-8010820000 for more input on this matter, as we have already helped many people find their dream home in Mumbai. You can be the next one!

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