Panvel, a major region in the Raigarh district of Maharashtra in the Konkan division, is a commercial, residential, and education node. Panvel is situated 40 km away from Greater Mumbai and close to the upcoming Navi Mumbai International Airport. The Panvel bounds Matheran Hills towards the east and southeast. The recent development has been in Panvel developed in New Panvel, which has been executed, administered, and maintained by CIDCO.
New Panvel was brought in October 2016 under the administration of the Panvel municipal corporation. The development structure of New Panvel was obtained in 1970 on the requirement of housing by the employees working in this industrial region. Some MIDC Areas names are Taloja, Pen, Rasayani & Patalganga. The new Panvel region, including a commercial hub, educational centers, colleges, and industries, is imminent to the NAINA region. It has become an investment hub. Therefore several developers, as well as residents, are showing interest in investment in Property in Panvel.
Panvel is a pioneer in every sector, like education, industry, tourism, transport, etc. Due to the much-developed region in Panvel, it has been ideal for commercial and residential investment, especially since coming to CIDCO. A reliance on SEZ is coming too in proximity that enhances the basic features available here. New Panvel East and New Panvel West are two parts of New Panvel. Panvel Railway station is in the city and is accessible from every prominent locality using the public transport of AC & Non AC bus service; all buses stop at each stop.
Reasons for Development in Panvel
Panvel is strategically situated parallel to NMIA. It has emerged as a development center of social features such as primary schools, hospitals, industries, and many more things; that’s why many people come from rural regions. Now, it has excellent connectivity to the rest important areas. Big corporation group has invested here. Some popular companies like L&T, Reliance, Hindustan Organic Chemical Limited, ONGC, and IPCL have been based here, given mass employment. After coming employment base in all companies, the housing requirement has taken place here that needs to be reached from employees working in this sector.
Having developed an area, Panvel was demanding residential Projects in Panvel. And after a long time of initiative, many property investments came from popular real estate organizations and the Maharashtra Government. Nhava Sheva Sea Link is an important connection for sea paths, while major highways and metro links are becoming. A golf course was planned in Panvel, and the state of an art clubhouse was at the standard level. All these factors have enhanced investment in residential and commercial properties in Panvel. Therefore, many housing properties came. Many are going on, like Hiranandani Fortune City, Godrej City Panvel, Wadhwa Wise City, etc. All are residential projects of a popular realty group.
Residential Market Analysis in Panvel
Due to the homely environment in and around Panvel, the availability of every social amenity, and healthcare centers, the area is seamlessly experienced as a developed area. Presence of all social features, marketplaces, and investment hubs, Panvel has become one of the most selective locations. Several real estate organizations are working here with their highlighted residential projects.
Ongoing Properties in Panvel
Hiranandani Fortune City- This is much awaited residential project of the Hiranandani Group prepared under the township planning. The project spans 350 acres of land to offer extraordinary & exclusive 303 to 1646 square feet of homes. In Panvel houses 1 BHK, 2 BHK, and 3 BHK flat that consists of one, two, and three-bedroom, respectively. The project’s towers’ name is- Flora, Artemis, Ernst Handel, Hera, Orion, Selene, Venus, Vesta, and Zeus. All homes have been registered under Rera norms and have Maharana numbers. The property is among the best residential locality for all social and basic needs. Each apartment of the Hiranandani group has followed the zero wastage size principle. Therefore each home got the best configuration accordingly to the modern world’s lifestyle.
Godrej City Panvel- Seeing the increase in land price in Panvel, Godrej Properties made an investment, which is Godrej City Panvel; it includes world-class features in terms of living in a prolific style. The project spans a 7.5 acres land parcel to offer two bhk, two bhk SPACIOUS, and three bhk flats per RERA norms. It consists of various configuration of home within several dimension- 2 BHK homes have apartments of extent 746 sq ft, 2 BHK SPACIOUS home has flats size 816 square feet, and 3 BHK towers have apartments of size 1053 square feet. Godrej City Panvel Project got a wide range of space around each infrastructure to create a road network across the available area. 75% open space for making lush green regions and gardening premises generates fresh air for breathing. As we know, the Godrej group is known for offering world-class properties with the best amenities similar to ongoing in the contemporary world; the exact things will be in Godrej Woods’ exclusive homes.
Wadhwa Wise City- This residential project came from Wadhwa Group’s inventory, bringing the finest and premium residences with a spectacular master plan, specification, and superb location map in Panvel. is the first-ever residential project in Panvel registered under Integrated Township Project(ITP) by the development authority CIDCO/NAINA, controlled by Maharashtra’s government. It spans 138 out of the total, holding 438 acres of land for the project. Architecture consultant Firm Hafeez Contractor made a site map and construction view for the property using site engineers, project managers, and architects. AECOM created a design for towers & homes. GFH and CAPACITIVE are also giving experience for development.EX-STUDIO are in the dimension of 290 to 300 sq ft, 1 BHK flats in the size of 390 to 400 sq ft, 2 BHK flats are in the altitude of 490 to 500 sq ft, and 2 BHK SUPREME flats are in the height of 630 square feet.
Future Growth Center
Besides infrastructure growth, Panvel has excellent connectivity, a brilliant locality, abundant open space, proximity to lush greenery, and a popular healthcare sector landscaping that is a lifestyle beyond aspiration. Several upcoming infrastructures like Navi Mumbai International Airport, Virar-Alibaug Multimodal Corridor, Mumbai Trans Harbour Link, and JNPT must enhance connectivity to the rest prominent locations. So, Panvel is the fastest-growing city in Navi Mumbai. It is the best time to invest in residential and commercial property in Panvel. Even Industrial Hubs such as Taloja Ind Area and NMSEZ Dronagiri & Ulwe increase their strength in producing new professionals jobs.