Developers booming in Panvel

By Accommodation Times Bureau

As per the statistics, 900 residential units have been already supplied in New Panvel in Navi Mumbai in three quarter of 2012. This is however above that 600 apartments that was already sold in 2011 entire year. There is huge transactions done, it is like builders are selling 25-30 apartments per month. Analyst says that this is clearly the enthusiasm of the announcement of an international airport within 5 km. Capital appreciation of 20% was witnessed during the April- June quarter 2012 resulting appreciation in capital values, real estate in New Panvel succeeded and became the hot spot for the builders and also buyers.

New Panvel is a location in Raigad District and is adjacent to the already established Old Panvel. The proposed plan of highway and Metro making easy connectivity has made New Panvel more promising destination. Coming up are the National Highway and railway station with 19 platforms which connect stations like Karjat. New Panvel currently has many projects in pipeline which mainly offers 1BHK,2 BHK attracts the middle class working professional and investors.

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