Panvel has become some sort of a popular destination for real estate in Mumbai. With many infrastructure developments, affordable housing and the proximity to nature make Panvel a prime place to own a house. Navi Mumbai is turning out to be a solace from the densification of Mumbai. As many people are now looking toward Panvel as an option to buy a house, the concept of affordable housing has taken shape here.
What is affordable housing?
The Union Ministry of Finance has stated that any unit, which less than 60 square meters, or 654 sq. ft. carpet area will be noted as an affordable home. Affordable housing in Panvel can be defined as projects in Panvel that are making use of at least 50% space of the index floor.
The demand for property in Panvel is on the rise after the introduction of affordable housing. Affordable housing makes sure there is a roof on each person’s head. Therefore, whether it is 2 bhk flats in Panvel or 3 bhk flats in Panvel, affordable housing can help you buy a house for yourself.
Factors due to which Panvel offers affordable housing:
1. Connectivity
Panvel has excellent connectivity. The rail and road connect Panvel with key parts of the Mumbai Metropolitan Region. This includes Thane, Kharghar, South Mumbai, Vashi, and Pune. Talking about rail connectivity, Panvel is known as the getaway to the Konkan region in Maharashtra. It is connected via both, central and western rail network. Commuting to Mumbai or Pune is convenient as Panvel is closer to Mumbai Pune Expressway and the Sion Panvel Highway. There is also the Virar-Alibaug Multimodal Corridor (VAMC) that will be a good addition to the connectivity factor. Not to forget the upcoming Navi Mumbai airport is one more reason why living here will be a better option in the future.
2. Type of Neighborhood
Under construction projects in Panvel are slowly changing the face of the neighborhoods here. These projects in Panvel are making sure that the neighborhoods are safe and are equipped with the right kind of amenities such as good schools, offices, hospitals, malls, theatres etc.
3. Development of SEZs
The developments of SEZ’s is bound to create employment opportunities in Panvel. This, in turn, will require proper housing. Whether it is luxury flats in Panvel or affordable, the real estate sector in Panvel is changing. The SEZ is being positioned to have a holistic group of connectivity, trade, and commerce and other types of resources.
4. CIDCO Involvement
The CIDCO involvement has made sure that the construction projects are within the law and there are no unfair practices. CIDCO has offered 350 acres of land to private real estate developers. This makes it easier to by flats in Panvel as and when the projects in Panvel are finished.
Buying flats in Panvel is what you should aim for if you want to live in a place, which has a natural backdrop, world-class infrastructure, and seamless connectivity.