When it comes to comparing the Rupee to the US dollar, the Rupee isn’t doing well lately. Though this is a crisis for the Indian economy, this fall in the value has perked up NRIs to find investment avenues in India. Real Estate investments top the list. As the number of NRIs is increasing so is their interest in investing in real estate back home.
The major influencers for NRIs to invest in real estate in India are factors such as good social infrastructure, currency value, the standard of living etc. There are a few benefits for NRIs who want to invest in the real estate here in India.
1. Ease of doing business in India
2. Cheaper housing options
3. Price Upside benefits
4. Tax exemptions
5. Retirement benefits through the reverse mortgage system
Talking about different locations where NRIs can invest in, Panvel is emerging as a coveted city for many. Real estate in Panvel offers a huge range of options for investments. It has retained its old world charm even after being on the path of development, unlike its other counterparts. Properties in Navi Mumbai are already renowned for being ultra-modern. Of all the locations in Navi Mumbai, Panvel is now turning out to be a hot spot for a real estate boom. Property in Panvel offers a blend of breezy and breathtaking landscapes, state of the art architecture, connectivity and what not!
We list a few reasons as to why Panvel is a good investment option for NRIs.
Panvel is already a well-planned city with the majority of the amenities and infrastructure in place. There are banks, gyms, famous restaurants, clubs, amusement parks for recreation, malls for shopping, etc which make Panvel a city with good social infrastructure. It is also an upcoming educational hub with prime schools and colleges opening up their institutions here too.
Panvel is well connected to Mumbai and Thane by road and trains. It is connected to the Mumbai-Goa and Mumbai-Pune highway. The Sion-Panvel highway connects Panvel to Navi Mumbai.
Potential Market for Rental Returns
There are a lot of outdoor spots around Panvel which are frequented by outdoor enthusiasts from all over Mumbai. The close proximity of the Karnala Bird Sanctuary, peaks of Haji Malang, Prabalgad, Kalavantin Durg, the fort of Raigad and Elephanta Caves make Panvel’s real estate a potential market for rentals.
As Panvel is still developing, the projects in Panvel have affordable deals. The flats in Panvel range from an average of Rs 5000 to Rs 6000 per sq. ft. The projects in Panvel range from flats, luxury homes, villas, bungalows etc.
It is expected by real estate developers that a major chunk of buyers of property in India will be NRIs. Panvel is soon becoming a sought after choice for investors and hence should be considered by NRIs too.