Properties in Panvel

Q: I’m little curious to know why panvel is becoming a hot real
estate destination? The property price
in panvel is also comparatively high, still people are buying property in
panvel . Why?

Rajiv,

23rd January 2013

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Replies (12)

Since the rates of real estate in Mumbai have become too steep, investors prefer buying flats at Thane and residential new projects in new Panvel as they are relatively affordable. As per a Panvel-based real estate broker, there is a steady demand for 1 BHK flats. spaceindia dot in

weplanithk, Mumbai

23rd August 2018

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Hi I am Associate Vice President In Indiabulls.In Mumbai we have townships in Navi Mumbai,Worli,Lower parrel.If you interested in will give you full details.My email id is devdhama@yahoo.co.in.my phone number is 9891783861

Isha Dalal,

13th February 2013

Comment

Panvel is divided into two parts, one is new Panvel which comes under CIDCO navi mumbai ( this area is planned develpoment ) where as old panvel is like village very cramped infrastructure.

At current rates even new Panvel is not worth it. Old panvel is total mess. The rates have only gone up nothing is changed. It is like penny stocks who goes up when overall stock market/index goes up.

Vivek Kulkarni,

24th January 2013

Comment

The airport has been proposed in Navi-Mumbai. But only the beaurocrats know how long the process will go on and how useful is the proximity of the airport to an average middle-class Mumbaikar for whom flying is a luxury and not necessarily an important mode of transport.

Is this spurt in property prices due to the investors or there is actually a scope of development in the near future?

Rituraj,

24th January 2013

Comment

Even I have been thinking of the same. Travelling to Panvel from Mumbai takes around 1.5hrs. The journey via local train is very exhausting.

Plus there is no good infrastructure in that area. Commutation is a huge problem unless you own a vehicle.

Inspite of this, the rates being quoted are as much as the rates in smaller well-developed towns.

Himani,

24th January 2013

Comment

People might argue that all that is just a plan but, sooner or later it will all eventually come up. Also, the current infrastructre in Navi Mumbai in terms of the roads, railway stations etc is pretty good to begin with. Also, there is a lot of land available there and Cidco has been doing a good job of allotting land for new projects so the builders keep coming with new projects and marketing along with that.

Sishir,

24th January 2013

Comment

For someone who has to stay in or around Mumbai property rates of Pune or Nashik are irrelevant. No matter how cheap Pune got I would never move there. So, you got to compare Panvel to areas around Mumbai. The rate in Panvel is about 3k. For a similar price the place you can get a house is Thane. So, the choice is between Thane and Panvel, if the rates in Thane went down by a lot I guess a lot of the people buying in Panvel would move there. Otherwise, are present rates Panvel looks like a good option with all the infrastructure planned for Navi Mumbai.

Javed,

24th January 2013

Comment

Inflation has been a big factor and India is no longer such a attractive market.. Regime change has started hitting the allies of the West.. and uncertainty in ME means oil prices goes up.. further fuelling inflation in countries like India and China.. and interest goes up as banks have really no option but try to use fiscal measures to control this.. this dents profitability further and hits growth..

All these will slowly have an impact on RE and you will see stagnation and correction..

Kalki K,

24th January 2013

Comment

Seems interesting location to invest,whats ur take on this....
Plz guide me if any good location relators there.
Cheers.

Mritunjoy Deb,

24th January 2013

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100% correct, Kamothe / New Panvel has more advantage than old Panvel.

Metro is not passing through Kharghar railway station, it will pass through Kharghar Sector 34 (of course near to sec. 35).

Supratim,

24th January 2013

Comment

Of course, I put Ulwe as even better destination than Kamothe & Panvel for long term investment.

Moreover, on price correction, i would like to say that I have always seen property prices going up only, even in biggest 2008 correction also. So, no hope for price correction, but yes may be prices will become stagnant for a time being.

Aveek Paul,

24th January 2013

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Dont know much about particular schemes but definately i have searched enough for different areas' development plans for navi mumbai. And based on my research, I put Kamothe as better area to invest than Panvel. Simply because it's nearer to the developed areas of mumbai and navi mumbai. Moreover, most developments are going on in New panvel, little far from Panvel(old) station. In very longer-run the navi-mumbai metro tain phase-1 will pass from Kharghar railway station, so Kamothe has that advantage of being nearer to Kharghar. Also, for trans-harbour link, there will be a road connection from Ulwe to Kamothe.

Aneek Das,

24th January 2013

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