Panvel - Invest in The New Real Estate Hub in Navi Mumbai

Situated on the outskirts of the thriving city of Mumbai is Panvel, a gold mine in the truest sense of the word for real estate investors. This region of the metropolis has witnessed exponential growth recently with many investment opportunities such as Wadhwa Wise City in the offing. If you have been looking to purchase a property in Panvel, then in terms of infrastructure, connectivity, and planned city landscaping, you will find it a profitable investment avenue.

The progressive rate of growth has escalated in the last few years with the announcement of the construction of the international airport in Panvel. Ever since this news was released, home buyers and real estate investors have taken note notice of this lucrative, new investment hotspot.

Property in Panvel - Your Next Big Residential Investment Avenue

Transport & connectivity

The upcoming and existing residential complexes in Panvel are known to be affordable avenues for investment. With more and more positive changes in Panvel’s real estate scenario coming to the fore, projects with smart, luxurious amenities on par with the projects in Mumbai are coming up. In addition to the two national highways passing through Panvel, this area is also accessible via the Mumbai-Pune Expressway. Its easy access to Thane-Pune Highway and Sion-Panvel Highway has also made life easy for the residents of Panvel.

Education

By choosing to invest in a property in Panvel, you will find yourself in the midst of an educational hub comprising of reputed educational institutions. Along with a multitude of primary and secondary schools, Panvel is home to the best higher education institutions in Mumbai such as the MGM College of Engineering and Technology.

Healthcare

The number of healthcare facilities in Panvel is also growing by the day. Life Care Multi Speciality Hospital, Lifeline Hospital, AyurPhysio Clinic and Dr Patil’s Hospital are just a few of the many reputed names on the long list of health care services and hospitals in Panvel.

Shopping & entertainment

Panvel has a horde of entertainment facilities which have become the go-to destinations for the purpose of leisurely and shopping activities. Delicious food can be found all across Panvel with restaurants of the likes of Barbeque Nation, Tawa Restaurant, Shabari Restaurant, Chilli n Pepper, Malvan Tadka and more. In the many restaurants in Panvel, you can find different cuisines entertaining to the different tastes and preferences of people.

Industries

A majority of real estate growth in Panvel can be attributed to the presence of important industries like Hindustan Organics Chemicals Ltd, ONGC, IPCL, Larsen & Toubro, Reliance, etc. The announcement of the Parel International Airport has paved the way for the establishment of new businesses in and around Panvel.

Documents To Check Before Buying A Property

If you have been looking to buy a property in Mumbai, then there are certain things that you should keep in mind with regards to the verification of property documents. Here we help you take a quick look at some important documents to check as you look up a property in Ghatkopar or any other area in Mumbai.

Documents to Check Before Buying a Property

Title deed

This document typically outlines the entire chain of ownership of a property. Title deeds provide full knowledge about how a present owner can opt to claim for the absolute ownership of a property. The title deed will allow for the possession of the title as well as other information relevant to your desired property in Mumbai. This document is important because if the land does not show the name of the last seller correctly then as per legal norms the property’s ownership will not be passed on to the buyer. This may lead to future litigations, disputes, and other hassles by the claimants of a property. 

Sanctioned building plan

Before the construction of any building starts, the builder has to gain an approval from local planning authorities. Referred to as a ‘sanction’, the approval is given if the builder submits all necessary documents and papers asked by the local planning authorities. Apart from stating facts about property ownership, these sanctions check for the legalized construction of buildings. In case there exists no sanctioned building plan for the property that you intend to purchase, then you face the risk of going for a property that’s illegal which may or may not be approved by local planning authorities.

Occupancy certificate

When a property is ready to be occupied, local planning authorities issue a certificate called the “Occupancy Certificate” (OC) or the “Completion Certificate”. The document implies that the builder has complied with building plans and laid-down norms and can be occupied. Without this document, you will find it tough to get loans from financial institutions or procure government issued documents like Khatha/Mutation etc.

The tax paid receipts, encumbrance certificate, khata/mutation document etc. are some of the other important documents that have to be checked for thoroughly before buying any new property.