Rapid urbanization, as well as demographic changes, are restructuring the Tier I Indian cities. Among these cities, Mumbai is a market where the demand for homes is high at all times, and Panvel is one of its emerging fringe localities for homebuyers.
Cities such as Mumbai, that speckle with skyscrapers and international standards of living have been facing severe space crunch for a while now as people across the country come to this maximum city in search of livelihoods and make it their home. Despite the crowd and the chaos, Mumbai continues to attract more people every day thanks to the opportunities it provides for those looking to make a living. This constant influx of people has posed several challenges such as congestion, air pollution and pressure on the city. When cities get saturated, people prefer to move to locations around its periphery that are greener and in close vicinity to industrial and commercial hubs. One such area within the surrounding neighbourhood of Mumbai is Panvel, a region in the Raigad district of Navi Mumbai.
Surrounded by tranquillity and beautiful landscapes, Panvel is a destination for those who seek to live in the lap of nature. According to many reports online, it is scientifically proven that a strong connection to the natural environment enhances emotional well-being and eases feelings of social isolation. Strategically located near Mumbai and Navi Mumbai City, this locality is a perfect destination for urban dwellers to escape the hustle of the city life and live in peace and convenience of this emerging micro-market.
Thanks to the infrastructural push by the authorities, over time, Panvel has emerged to become the next prime location in Navi Mumbai. Planned and developed by the City and Industrial Development Corporation (CIDCO), Panvel in no time has become a premium pin code. With its tremendous growth potential and prominence, it has attracted a lot of homebuyers to invest in the real estate market here. The recent announcement of the coming up of Navi Mumbai International Airport has suddenly brought it to the forefront of top residential micro-markets of Navi Mumbai.
Here are a few reasons why Panvel is becoming a real estate hotspot in Navi Mumbai:
Connectivity and accessibility
Panvel is situated at a tri-junctional location where major highways meet. These include the Mumbai Pune Expressway, Thane-Panvel Highway and the Sion-Panvel Expressway. Located 37 km from Mumbai and 13 km from Navi Mumbai City, Panvel offers excellent road connectivity and also connects both the Western and Central lines of the railway. This seamlessly connects people to the neighbouring regions and districts. Panvel also has upcoming infrastructure projects that are poised to boost its livability quotient.
Industrial and infrastructural growth
The upcoming Navi Mumbai International Airport is expected to reduce the congestion at the Chhatrapati Shivaji Maharaj International Airport in Mumbai and bring about economic efficiency and sustainable growth for the city. Along with this, the 32 km long Mankhurd-NMIA-Panvel metro line will pass through the Navi Mumbai International Airport. The second phase will be constructed over the Sion-Panvel Highway, which will connect Sewri to the airport. The proposed Mumbai Trans Harbour Link or the Sewri-Nhava Sheva Trans Harbour Link is a six-lane highway which will connect the island city to the satellite city. This will also be the longest sea bridge in India which will begin at Sewri, cross Thane Creek and terminate at Nhava Sheva. Additionally, the CST-Panvel AC rail and the metro will connect Panvel to South Mumbai. This will open doors for industrial growth opportunities in the East.
Panvel is dotted with important educational facilities and numerous reputed schools and colleges. Children are sure to get a quality education in these institutions. People also have access to entertainment establishments such as malls, shopping complexes and parks at every corner. Panvel is also a trekker’s paradise, and families can spend their weekends in the surrounding mountains. The region also provides the most necessities for people such as branches of different banks and ATMs along with a number of well-known notable hospitals. An occupant of this place is sure to have a convenient and elevated lifestyle.
Panvel has transformed into an industrial hotspot and is home to prominent national and international brands. A lot of industries have set up their factory plants and business hubs here, and this has attracted a lot of people to buy a house in Panvel as they have a plethora of employment opportunities available for them. Furthermore, the development of the SEZs around Panvel will indicate good employment opportunities.
Panvel undoubtedly has progressed to become an epicentre packed with a cosmopolitan character. With the advancement of all these essential factors, the property rates have been increasing immensely. Further, a lot of developers are coming up with a rich assortment of projects which are sure to be a safe bet for homebuyers and investors alike, who want a significant return on their investment in the real estate market here. With the upcoming developments and futuristic infrastructure, Panvel is set to be one of the most preferred residential hotspots in Navi Mumbai.