Panvel delivers maximum new apartments in Navi Mumbai

Q: Hi, which factors drive the realty market of Navi Mumbai? Can you list the name of some localities that are becoming realty hotspots in Navi Mumbai?

Kishore Pathak, Mumbai

5th April 2015

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Replies (5)

@ Piyush,
The average built area of a 1BHK apartment is about 530-715 sq-ft. while that of a 2BHK apartment is about 700-1150 sq-ft. The average property value of a 1BHK apartment is about Rs 24-40 lakh and that of a 2BHK apartment is about Rs 30-70 lakh. A 3BHK apartment may cost about Rs 70 lakh-1 crore.

Shaunak Verdla, Mumbai

8th April 2015

Comment

Hi everybody,
Can you give me some idea about the built up area of 1 and 2BHK in Panvel? What is the current property value of 1 and 2BHK?

Piyush Khoche, Pune

7th April 2015

Comment

Well Vinay,
Panvel offers the most number of projects that are within the age of 2 yrs, closely followed by Kharghar and Kamothe.

The most available projects in the area are 1 and 2BHK apartments followed by a small number of 3BHK apartments.

Abhijit Thanki, Mumbai

6th April 2015

Comment

Hi Ketal,
There is a good growth in the area in terms of connectivity, with several proposed infrastructure projects to improve its connectivity to the main cities of Mumbai and Thane. Similarly, the Navi Mumbai International Airport, which will augment the airport in Mumbai, is coming up in the New Panvel area. There are also few other infrastructure projects coming here. Kamothe is close to both Kharghar and Panvel and lies on the Mumbai-Pune Expressway.

Vinay Dixit, Mumbai

5th April 2015

Comment

Hi Ketal,
Apart from these essential factors, realty prices in these areas too are cost-effective compared to the high property values in Mumbai as well as few other parts of Navi Mumbai. Standard property values in these areas are in the range of Rs 4800-8400/sq-ft. This draws a good number of builders as well as buyers to these areas.

Anirudh Patel, Mumbai

5th April 2015

Hi,
Several factors drive the realty of Navi Mumbai. As realty hotspots, these localities witness a good number of projects being launched every year. Panvel is one such hotspot that offers the highest number of fresh projects, with a property age of approximately 2 yrs.

There are various localities in Navi Mumbai that are becoming realty hotspots. Currently, some of the brilliant real estate micro-markets include Kharghar, Kamothe and Panvel.

Anirudh Patel, Mumbai

5th April 2015

Comment

Right Anirudh,
This is mainly due to factors such as industrial growth, connectivity, improving infrastructure and affordability factor. For example, Kharghar is an important industrial area in the Navi Mumbai region, with several employment opportunities.

Vinay Dixit, Mumbai

5th April 2015

Hi Vinay & Anirudh,
As we all know that connectivity play a major role in the realty market. i am little worried about it's connectivity. How is the infrastructure development in the locality of Navi mumbai?

Ketalpujara, Mumbai

5th April 2015