Several prominent five-star hospitality and hotel brands have purchased large tracts of land in and around Panvel keeping in mind the business that will be generated once the international airport becomes operational.
Once identified as a sleepy town, famous for the farmhouses of the rich and famous from Mumbai, Panvel has shed its image in the recent years and has transformed into the most sought-after realty destinations – be it affordable homes or business parks – near Mumbai.
Upcoming projects like the Navi Mumbai International Airport and the ambitious Navi Mumbai Airport Influence Notified Area (NAINA) have given a huge impetus to the real estate scene in the area, with home buyers as well as top businessmen showing keen interest in pumping in investments.
Several prominent five-star hospitality and hotel brands have purchased large tracts of land in and around Panvel keeping in mind the business that will be generated once the international airport becomes operational.
Location of Panvel, which has a history of about 300 years, works to its advantage as it connects to both Konkan area as well as to the ghat region (south Maharashtra). Prominence of the region has grown at a fast pace in recent years, especially after the airport project was cleared.
"An international project getting clearance means rapid development of infrastructure in the region and steps taken by the government will improve connectivity of the area with other parts of the state and also with Mumbai. Ten-laning of the Sion-Panvel highway, improved train frequency from Panvel to CST, development of Metro in Kharghar in the first phase, which will gradually connect to the international airport are some of the major developments that have taken place in the region in the recent years," said social activist Sudhakar Patil, a resident of old Panvel.
One of the major attractions for home buyers thronging Panvel is the availability of affordable housing options in this belt. "Once the news of airport development was out and Cidco was appointed as the planning agency for a radius of 25 kms from the airport area to carry out planning, development has been going on at a steady pace. Several prominent developers are having projects in Panvel and its periphery and the good thing is that the rates are affordable as compared to Navi Mumbai. One can get a decent house for around Rs20-25 lakh in this region," said Ameya Bhise, who has recently purchased a 1BHK flat in Vichumbe.
The proposed 22-km Nhava Sheva-Sewri sea link will change the horizons of Panvel as the wall of separation between Mumbai and Panvel will disintegrate due to this link. The Delhi Mumbai Industrial Corridor, which could boost business and logistics for West and North India, has seen several business houses purchasing lands in this belt.
Panvel is not only an attraction for business houses or people looking out for affordable homes, it is also an ideal destination for having a weekend home. Surrounded by mountains and on the banks of river Gadhi, this place also boasts of having high-grade educational institutes and hospitals having state of the art facility.
The City and Industrial Development Corporation (Cidco), which is the special planning authority for NAINA already has prepared an Interim Development Plan for the pilot project of 23 villages in Panvel tehsil and will be sending it to the state government. V Venugopal, additional chief planner of NAINA, said, "Cidco wants to take majority of villagers into confidence before putting the final proposal to the state government on NAINA. The proposal will be sent to the state on August 30."
Future perfect
Navi Mumbai International Airport
Navi Mumbai Airport Influence Notified Area - to give a huge boost to infrastructure
Will bustle with financial activities once airport becomes operational
Affordable housing options – one can buys a 1BHK flat for Rs20-25 lakh
Scenic location - surrounded by mountains and on the banks of river Gadhi
High-grade educational institutes
Multi-specialty hospitals with state-of-the-art facilities
Superb connectivity to Konkan and Pune
Connectivity to Mumbai will leapfrog once the 22-km-long Nhava Sheva-Sewri sea link is completed
Can be turned into a logistics hub once the Delhi Mumbai Industrial Corridor is completed
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