As we approach the auspicious occasion of Gudi Padwa, many individuals are considering investing in real estate.
Why should You Invest in Panvel?
With the current realty market trends, investing in Panvel can prove to be a smart decision for those seeking long-term gains. Panvel offers home buyers and investors an excellent opportunity to invest in a rapidly growing region with excellent potential for appreciation in property prices. Here are some reasons why you should consider investing in Panvel this Gudi Padwa.
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Firstly, Panvel is strategically located, and its connectivity is only going to get better with the upcoming Mumbai Trans Harbour Link (MTHL) project, which is set to be completed by December 2023. The 21.8 km long MTHL bridge will connect Sewri in Mumbai to Chirle in Navi Mumbai, making commuting between the two cities much faster and easier. It will also be connected to the Eastern Freeway, allowing motorists to take a signal-free flyover from Sewri to CSMT. Once the MTHL is operational, the travel time from Mumbai to Navi Mumbai will be reduced to just 20 minutes. The MTHL will also be linked with the Mumbai-Pune Expressway through an elevated corridor, making it easier for frequent travellers to commute between Mumbai and Pune. This infrastructure development is sure to lead to a significant appreciation in property prices in Panvel and the Navi Mumbai region.
Gudi Padwa is considered one of the auspicious periods for property investing, and Panvel is one of the best places in which to invest in property.
According to Gulam Zia - Senior Executive Director - Research, Advisory, Infrastructure, and Valuation at Knight Frank India, Panvel real estate does provide and good investment opportunity for prospective homebuyers and investors alike. He said, "Panvel is a well-planned city, and it effectively connects the city and western lines. Because of its already existing connectivity with the Mumbai-Pune highway and the Sion-Panvel Expressway, the ease of travelling to other parts of the city becomes convenient. Thus, making Panvel’s real estate an ideal destination for investment. There are several major infrastructure projects of the huge impact that will come to fruition in the next two years. Out of these upcoming projects, the two most important ones are the International Airport and the Mumbai Trans Harbour Link Project (MTHL). A lot of real estate development has happened based on the idea of these infra projects coming to a completion. As these projects come into existence, one would see that the next leg of growth in Panvel’s real estate will be around residential and commercial spaces. The home buying affordability is still reasonably high in this region, even after the runup that the market has witnessed in recent years."
Secondly, Panvel is home to the under-construction Navi Mumbai International Airport, which is expected to be fully operational by 2024. Once completed, the airport is expected to create 142,000 direct and 200,000 indirect jobs, making Panvel a prime destination for investment.
For those who want to reap the benefits of the region's rapid development and growth prospects, Bappaditya Basu, Chief Business Officer, ANAROCK Commercial, recommends investing in Panvel this Gudi Padwa. “Panvel presents a remarkable investment opportunity for those who want to enhance their quality of life and capitalize on the city's potential for growth. The area's social, economic, and transportation infrastructure is quickly expanding, making it an attractive option for developers and investors seeking to establish a foothold in Navi Mumbai. With property prices already increasing and expected to rise further in the upcoming months, it is no surprise that Panvel is in high demand,” he added.
Thirdly, Panvel is seeing significant infrastructure development, with a 30-km-long suburban rail corridor connecting Karjat with Panvel currently under construction. This route will reduce the travel time from CSMT to Karjat by more than 20 minutes and provide an alternative route from Mumbai to Karjat via Panvel. This suburban corridor will work as a means for the further economic development of Panvel and its surrounding areas.
According to Ashish Narain Agarwal, Founder & CEO of PropertyPistol, “Panvel and Navi Mumbai zone has always been a hot real estate investment destination. Panvel was always one of the preferred residential locations due to its proximity to Navi Mumbai suburbs, Karjat, Khopoli, Pune, and Lonavala among others. Its connectivity to Uran and JNPT became one of the vital infrastructural links due to the planned Mumbai Trans Harbour Sea Link. With the proposed Navi Mumbai International airport and Nerul-Uran Railway Line, there will certainly be a boost to Panvel city with quality and luxurious residential developments. The proximity to commercial areas of Navi Mumbai, Airoli, and Taloja can also help in encouraging the real estate market in Panvel. The city is blessed with quality retail, hospitality, medical and educational opportunities in the suburbs, thus accelerating the overall development of the suburb.”
Finally, Panvel offers affordable property rates compared to Mumbai, making it an attractive investment option for home buyers and investors. With the rapid infrastructure development in the region, property prices in Panvel are expected to appreciate significantly in the near future.
In conclusion, Gudi Padwa is an auspicious occasion to make an investment in your dream home or a profitable real estate asset. Panvel, with its excellent connectivity, rapid infrastructure development, and affordable property rates, offers an excellent opportunity for home buyers and investors to invest in a rapidly growing region with excellent potential for appreciation in property prices. So, this Gudi Padwa, invest in Panvel and watch your investment grow.
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