by Chris Devers
Panvel offering budget housing options around Mumbai
Panvel is the extreme point of Navi Mumbai, lying on the banks of the Panvel Creek. It has recently earned the respectable place in the list of most promising real estate destinations in Navi Mumbai, competing with the likes of Kharghar, Airoli, Thane and Ambernath. Its location on the Pune-Mumbai Expressway and proximity to many major industrial establishments and SEZs make the location a prominent investment zone. The leading real estate portal commonfloor.com opines that builders and developers in Panvel offer affordable housing options that fit the budget of low as well as middle income families.
Here are 5 tips that you must keep in mind before going ahead.
Opt for projects that have organized plan
Big names in real estate market of Mumbai Prime are yet to enter Panvel. More than 70 percent of the projects are still offered by the local builders. Though the completion rate is good, quality of projects and the amenities provided in the projects lag behind.
Good Resale value
From future point of point, opt for projects that have an organized expansion plan. If you are really not bothered about the amenities, at least make sure that you are investing in a project that belongs to a Township layout. It would assure you a guaranteed resale value in 5 year’s time.
Seek multi-storeyed housing options
New Panvel is witnessing a boom in the multi-storeyed segment. At affordable rates of less than INR 6000 per square feet, you can easily get a 2 BHK for INR 40 lacs, all inclusive. Expect the price appreciation once the Metro Phase II and the Navi Mumbai International Airport in Uran is complete. The same unit will cost close to INR 80 LACS as per current projections.
BHK Wise investment
You can easily get a 2 BHK in Panvel that spells bigger space and better family planning. In Mumbai, the trend of 1 BHK continues though. If you are investing as an end-user, opt for 2 BHK units as the Panvel developers are offering attractive prices to match your expectations. Not only is the price affordable, the completion term is also smaller. Expect possession by December 2017 if you book today.
Ultra-Luxury Segments above 1 Crore
There are at least 2000 Units in New Panvel and Panvel that belong to the segment of Luxury homes. Though, they feature in the 1 Crore Plus Club, it is still competitive compared to the trend in Mumbai, Bangalore, Pune and even Chandigarh. Investors consider these luxury housing projects as the new trend in Navi Mumbai nodes. With new airport project around the corner, this is the right time to invest in these projects as well.