Panvel – The Next Real Estate Destination
Oct 04, 2013
Source : The Times of India

 

MUMBAI: The last born in the family always gets the best in terms of resources, love and also gets the advantage of being parented by more experienced parents. Similarly, in the real estate space in Mumbai, Panvel is now getting the benefit of the following:

  1. CIDCO’s experience in developing a modern city i.e Navi Mumbai. 
  2. A more prosperous middle class as compared to the earlier two decades. 
  3. More perceptive builders as they now have the ambition to benchmark themselves against world’s best developers. 
  4. A completely bare canvas (undeveloped land) which will enable builders to develop massive townships. 
  5. The state government is also connecting Panvel by faster modes of transport like the Trans Harbour Link. 
  6. Railways have a target to speed up the rail connectivity so that commuters can reach CST in 35 minutes as compared to the 77 minutes now. 
  7. With the widening of the Sion Panvel Highway and the addition of flyovers, there is a signal free ride from Chembur to Panvel. From Chembur to CST, is the eastern freeway, so one can get to Mumbai CST from Panvel and only negotiate two traffic signals.

Panvel is also the largest and most populated city in Raigad district and is considered one of the most promising real estate markets in India. It is surrounded by some major MIDC (Maharashtra Industrial Development Corporation) managed regions like Taloja, Patalganga, Nagothane, Roha and Khopoli. Some of the major Indian companies like L&T (Larsen & Toubro Limited), Reliance, Hindustan Organic Chemicals Ltd, ONGC and IPCL are located in and around Panvel. India’s largest container port JNPT is also located near Panvel.

Panvel falls between two major cities of Maharashtra ie Mumbai and Pune and is known as gateway to Konkan.

Considering the potential and location advantage Panvel offers, many well-known developers such as HIRCO, Kalptaru Group, Marathon Group, Indiabulls, Arihant Superstructures, Monarch Universal, Godrej Properties, Wadhwa Group are either acquiring or have already acquired huge land parcels. After the start of the much waited Navi Mumbai Airport and Trans Harbour Sea Link, Panvel will see rise in real estate requirements and infrastructure growth.

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