New infrastructure developments to boost prices of properties in Panvel

Locations such as Panvel, Uran, Ulwe, Khandeshwar and Kamothe in Navi Mumbai are witnessing an increased development of residential units as the older areas in Navi Mumbai are getting saturated.  The demand has remained steady; the prices of apartments in Panvel have seen an increase in recent times. The factor influencing the price rise has been the proposed infrastructure development in this locality. Home buyers are confident that projects such as the Navi Mumbai International Airport, the Metro and the Mumbai Trans Harbour Link will all push up prices of property in Panvel.

Panvel is the most populated city in Maharashtra’s Raigad district and is located 49 km from Mumbai Central. Panvel is also known as the gateway to the Konkan region and hence the Konkan Railway which connects this city to other states of India. The Konkan rail line from Mangalore, the Harbour line from Mumbai’s Chhatrapati Shivaji Terminus, the central line from Diva/Karjat and the western freight corridor from Jawaharlal Nehru Port Trust, which is close to Panvel, meet here.

Panvel is an important junction on the highways with many highways starting and passing through the city. The Mumbai Pune Expressway, the Sion Panvel Expressway, the NH4B (JNPT Road) and the NH17 start at Panvel while NH4 passes through. There is also a proposal for a six lane Trans Harbour road connecting South Mumbai to Nhava Sheva.

Of course, for the early birds who invest in property in Panvel, the best of times will be when the Navi Mumbai International Airport, which is slated to come up in the Panvel-Kopra area, finally takes off; the prices of property will also shoot up.

The nodal development authority for Panvel is the Panvel Municipal Council while that of New Panvel, which is a satellite mega city in Navi Mumbai, is the City and Industrial Development Corporation (CIDCO).

New Panvel hit the headlines when the National Geographic Channel featured this mega city in its “Super Cities of the World” series. Frenetic construction activity is been witnessed in New Panvel especially after the announcement that the new international airport would be located here.