Panvel- Affordability contributes to the boom in the locality’s residential market.

Panvel, a prime residential destination of Navi Mumbai is considered as one of the most populated areas in Raigad District of Maharashtra. This area has been witnessing a boom in its residential market due to its strategic location as it is well connected with other parts of the city. Apart from the proximity benefits, other factors which have played a pivotal role in the progress of its residential market are enhanced connectivity, improved infrastructure, presence of IT giants and other industries, availability of amenities and other civic utilities and improved socio-economic conditions. The benefits from the aforementioned factors have gained the attention of both developers and buyers to invest and reside in Panvel, a node of Navi Mumbai.

The growing demand of residential properties has led to a steady rise in the capital values and this in turn has benefitted the developers by putting them in a position to earn healthy returns in the near future. This hike can be safely observed from the data mentioned on 99acres.com. According to it, the prices have appreciated by 1.69 percent in the last six years, having gone up from Rs. 2950 per square foot in January-March 2009 to Rs. 6900 per square foot in July-Present 2015. The aforementioned increment in the prices has encouraged other small and medium scale real estate developers to scout for land parcels in order to construct their suitably priced residential projects. This buzz has increased the pace of construction activities thereby, making it convenient for the house –seekers by providing them with more options to look at and choose from.

So, if you are a prospective buyer, who wishes to invest in the affordable units of Mumbai, then do consider Panvel as the locality offers well-structured units coupled with numerous facilities and benefits.     

Following are some of the new residential projects coming up in Panvel.

NEW RESIDNETAIL PROJECTS

·     Vaastusiddhi Landmark Riverside, an upcoming residential project by Vaastusiddhi Group is located in Panvel, Mumbai Navi. The project offers well designed 1-2 BHK apartments which will be available in an affordable price range of Rs. 17.67-25.08 lakh. The project is approved by leading financial institutions including LIC HFL, Axis Bank, ICICI Bank, HSBC Bank, among others. The project promises to offer modern facilities and ultra-modern amenities including club house, meditation center, sports facility, kids play area, swimming pool, gym, 24 hour water supply, open space, power back up, car parking, paved compound, among others. The possession of the project will start by December 2016.

·        Grow Riverside Greens, an upcoming residential project by Grow Homes is located in Panvel, Mumbai Navi. The project offers well-designed 1-2 BHK apartments which will be available in a price range of Rs. 17.7-29.76 lakh. The project is well equipped with latest facilities and modern amenities including gym, landscape, kids play area, water plant, power back up, car parking, sewage water plant, open space and many more. The possession of the project will start by December 2015.