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Panvel: Planned development and infrastructure make it a realty hotspot


Panvel, in Navi Mumbai, has emerged as one of the fastest-growing areas, in terms of infrastructure development and connectivity. Its real estate market has also witnessed considerable activity across segments, including affordable, mid-segment and luxury housing, as well as commercial complexes.

Panvel Infrastructure developments, like the Navi Mumbai International Airport, Mumbai Trans-Harbour Link, Virar-Alibaug Multi-Modal Corridor, etc., are the factors driving the demand for residential and commercial real estate in this new growth corridor. With the government showing support by implementing policies like the PMAY (Pradhan Mantri Awas Yojana), these initiatives along with the infra development, are motivating developers and the private sector to contribute more to affordable housing.

Connectivity to Panvel to improve, with various new projects
Expansion of the suburban railway network, metro rail and highways, have also improved the connectivity to several parts of the city, thereby, acting as a catalyst for developers to announce projects. The Mumbai Trans-Harbour Link is expected to ease congestion along existing transport corridors and be an alternate route that provides quick connectivity from Mumbai to the JNPT Port and the upcoming Navi Mumbai International Airport. The proposed Virar-Alibaug Multi-Modal Corridor (VAMC), is also likely to take off by this year.

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