Panvel, which is a locality in the Raigad district of Maharashtra, has always been much popular for its easy proximity to Mumbai. It falls under the Mumbai Metropolitan Region and has experienced rise in population and number of projects in Panvel, given Mumbai’s steadily increasing space crunch. It must also be known that Panvel is the first to have a Municipal Corporation in the district. While much of this can be described as Old Panvel, New Panvel was initially thought of in order to meet the residential requirements of people working in the MIDC. Then state of the art developments and booming real estate Panvel continued developing here because of its strategic location on the eastern side of the Mumbai-Bangalore Highway as well as the Mumbai-Pune Expressway.
More information of New Panvel
New Panvel has surpassed old Panvel is terms of panvel property demand for the simple reason that it is most well connected with roads and railways which is essential for those going to make their livelihood in Mumbai regularly. This place has also been divided into two parts, one being named New Panvel East and the other New Panvel West which have nineteen and twenty three sectors in total respectively. It must be understood that New Panvel is regarded as a more viable location than Old Panvel when considering projects in panvel because it is located adjacent to the Navi Mumbai International Airport that is being proposed for construction. The area is also populated by schools, colleges and hospitals, facilitating full-fledged settlements here.
Which is better for residential settlement?
It must first be understood that since Old Panvel real estate had developed much before the idea for New Panvel was even formulated, the place is already adequately populated with apartments, homes and other tenements. However, for those looking to settle residence in a place that is not abuzz with the hubbub of a densely populated city, having already struggled with the humdrum that Mumbai is on a regular basis, New Panvel is the better option. This is to say that residential projects in Panvel have picked up pace for not only these but also due to reasons of accessibility. Those looking to buy flats in Panvel should also know that construction activity has slowed down in recent times due to high demand and therefore, the rates have not been increasing now, making this an ideal time for real estate investment in Panvel.
Why New Panvel is more favorable for property investment?
It must be said that while Old Panvel infrastructure continues to serve as a developed element in this district, real estate opportunities are much brighter in New Panvel. In addition to residential projects in Panvel, a rise in demand for Panvel property can be observed because it provides greater ease of travelling to the rest of India as well as most of these roads are well planned. The place is close to both Khandeshwar and Panvel railway stations, which makes real estate here almost as viable as property in Navi Mumbai. Properties here are also as much in demand as property in Navi Mumbai because of the various infrastructure developments that are under consideration around the place.