The Panvel New Panvel stretch will witness multiple project possessions
Apart from the Navi Mumbai airport, the Nhava Sheva-Sewri sea link and sports complex, are the major attractions
May 28, 2013
Source : The Times of India

 

MUMBAI: The upcoming International Airport at Navi Mumbai has infused new life into the real estate market in the southern suburbs of Panvel and New Panvel, which would be in close proximity to the airport. This has made these locations, one of the most-promising property destinations in Navi Mumbai, today.

A large number of projects are lined up for possession from 2013 to 2015 in these areas, says MagicBricks.com data. The data shows that developers such as Hirco, Karam Corp, Shree Siddhi Developers, Sai Amrut Developers and Sairaj Constructions, are delivering their projects during this period.

“Panvel is the undisputed leader as far as residential launches in Navi Mumbai are concerned. With completion of the Metro work, there will be a spurt of residential launches in this area,” informs Azmat Shah, a realty merchant.

As per MagicBricks.com data, nearly 60 per cent of the total projects coming up along the stretch, offer one and two-BHK units in a wide budget range of Rs 16 – 50 lakhs. Developers such as Radhey Space Developers, Labh Buildtech Pvt Ltd, Tirupati Balaji Builders, Fortune Infra, Sai Raj Constructions, are contributing to the supply of one and two-BHK units. The locality witnesses a huge demand for these smaller units, with more than 90 per cent (MagicBricks.com data) buyer interest, which explains the high supply in the market.

Other established developers cater to a wider consumer base and offer one, two, three and four-BHK units. For instance, Lakhan Builders, Shikara Constructions and Dharati offer one, two and three-BHK apartments in a budget range of Rs 22 lakhs to Rs one crore and above. Larger housing units that are priced above Rs 1.2 crores are offered by Indiabulls India Pvt Ltd, Monarch Universal Group and Hirco.

The rush to buy property in Panvel and New Panvel may also be attributed to the large number of infrastructure projects that are in the pipeline. Joy Sanyal, head-development initiatives, Jones Lang LaSalle India, explains, “A residential property investment in a location like Panvel puts the investor squarely in line for the benefits of many proposed infrastructure initiatives. Apart from the Navi Mumbai airport, the Nhava Sheva-Sewri sea link, a large entertainment complex and sports complex, are the major attractions. Further, proximity to the Mumbai-Pune Expressway is an added advantage for the location.”

Latest Realty News

Bangalore realty market more positive
May 28, 2013
With a new stable government looking to address some problems of the previous one, and with interest rates falling, Bangalore’s real estate market is looking more positive for buyers and investors than it has been in a while. Given that property prices here have been relatively stable in the past few years also makes it quite attractive.
Builders urged to keep in mind basic consumer requirements
May 28, 2013
Builders in Mangalore have been asked to think about meeting the basic consumer requirements while planning their projects.
Single-window approval for projects sought
May 28, 2013
Credai, the apex body of real estate developers in the country, has urged the Government to introduce single-window approvals for projects at the earliest.
Homebuyers in Noida move Allahabad HC
May 28, 2013
Homebuyers of Noida Extension have filed a writ petition in the Allahabad high court demanding a complete stay on the cancellation of bookings of housing units, which is being carried out by a few developers in the region
Noida land prices may zoom
May 28, 2013
Buying a house or land in Noida, Greater Noida and along the Yamuna Expressway has become costlier. At a board meeting on Monday, three development authorities for these areas announced a substantial rise in allotment prices across all categories of land.
Realty firms tweak norms to push sales
May 28, 2013
Sluggish commercial market is prompting developers, occupiers and financiers to come up with different ideas to protect their interest and get things going. While developers are tweaking their offerings along with easier payment structures, including installment option, private equity players are opting for strata buys rather than acquiring entire projects for complete control.
Housing prices rise by around 1 pc in 20 major cities: NHB
May 28, 2013
Housing prices have increased marginally by an average 1.1 per cent in 20 major cities, including Delhi and Mumbai, in January-March 2013 over the previous quarter due to slowdown in demand, National Housing Bank said today.
YES Bank CEO Rana Kapoor's family buys Rs 128 cr house next to Mukesh Ambani's Antilla
May 28, 2013
The family of YES Bank BSE 0.11 % CEO and managing director Rana Kapoor has bought a residential building - jointly owned by Citibank and GlaxoSmithKline - on tony Altamount Road in Mumbai for Rs 128 crore, and plans to build a home there. The building is next to Mukesh Ambani's 27-storey Antilla.
Indiabulls Real Estate can move to Rs 110: Tulsian
May 28, 2013
SP Tulsian said "By and large, I am keeping a positive view on all the real estate stocks whether you talk of the Indiabulls Real Estate or Prestige Estate , Anant Raj . Maybe because Indiabulls Real Estate has a good presence in Mumbai, the three pockets - National Capital Region (NCR), Bangalore and Mumbai are really doing quite well."
State push for road projects
May 28, 2013
Road projects under the Pradhan Mantri Gram Sarak Yojana (PMGSY) scheme received a push on Monday with the state cabinet passing a proposal to form eight programme implementation units (PIU), which will look after the road construction projects in seven districts.

Latest Realty News Of State

Realty Talk's