Why buying a flat in Panvel is the best choice for investment

After about three years of slump the real estate market in some of the major cities in the country are showing signs of growth. This comes as a relief to the builders and developers who have been saddled with huge amount of unsold inventory over the last few years. Two numbers have shown positive growth when compared to the last year. According to a leading realty firm the number of homes being sold has gone up and the number of unsold inventory has come down in the first half of this year.

Of the eight biggest cities in the country real estate wise, the metro which has done well and seen the biggest amount of growth in the first half of the year is Mumbai. It is followed by Bangalore in the second place. This is the city with the second highest amount of unsold inventory in the entire country. Unsurprisingly the Delhi National Capital Region is the worst performer. Several factors have contributed to the reversal of fortunes for the realty sector. The lowering of the interest rate by the Reserve Bank of India, price correction in several important markets and several regulations introduced by the government of India are the factors which have been attributed to the positive sentiment prevailing in the market in the first half of this year.

The real estate scenario in Mumbai has not been good. High pricing, non-availability of land parcels and high unsold inventory have been plaguing the market for the longest time. One of the cities which has benefitted immensely from the woes suffered by the financial hub of India is Navi Mumbai. The name of the city translates to New Mumbai in English. And it is this new Mumbai that people have flocked to in the thousands. The property prices here in the affordable range hence it is on the top of every property buyer’s list who has looked for properties in Mumbai.

One of the micro markets which has witnessed quite a bit of growth in this city is Panvel. It is located in the Raigad district of Maharashtra and is considered to be one of the most populated cities in the Mumbai Metropolitan Region. Flats in Panvel are reasonably priced and are quite popular with buyers. Flats in Panvel are priced anywhere between INR 5000 to 6000 per square feet. These rates combined with good connectivity to Mumbai have made this micro market a firm favourite with property seekers.

There is maximum demand for 1 BHK in Panvel. If the 1 BHK in Panvel falls within the INR 10 to 20 lakhs range there is even more demand for it. Those which fall within the INR 20 to 30 lakhs come in second demand wise. Navi Mumbai is going through a sea change. Infrastructure is improving at a great pace. If the city becomes more livable then the going rate for properties here will go up. Hence buying properties in any of the micro markets of this city is a wise choice.

Author Bio:

Lakshmi is an associate editor of search my flat & well known for his writing content for commercial property in Panvel. Indiaproperty.com services is a leading portal in India, providing complete information about flats in Mumbai for sale by sell & buy 1 BHK apartments in Panvel.

I am writing for Indiaproperty.com. IndiaProperty.com is the one stop destination to all queries and searches related to real estate. Indiaproperty.com proudly is the No.1 portal for real