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.

Reaching Wadhwa Wise City - An Intergrated Township Project in Panvel

Wadhwa Wise City is an integrated flagship township project in Panvel featuring studio, 1 BHK, 2 BHK, 2 BHK supreme apartments, retail spaces, hospitals, and many more for spacious living.

know here how to reach Wadhwa Wise City Panvel:

Wadhwa Wise City - Show Residences

Homes at Wadhwa Wise City are designed to ensure fresh air & ample natural light. The apartments here have been efficiently planned to ensure minimum wastage of space.

Here’s a glimpse >>>

 

Maha CM Inaugurates Wadhwa’s ‘Affordable Housing” Project

Maharashtra Chief Minister Devendra Fadnavis inaugurated Wadhwa Wise City,  first Integrated Township Project at Panvel, near Mumbai, of the Wadhwa Group named “Wadhwa Wise City” – an affordable housing mega project - under the Prime Minister’s Awas Yojana (PMAY) Urban Scheme. The project, which is situated in NAINA (Navi Mumbai Airport Influence Notified Area), will provide 5,500 affordable homes alongside creating 2.5 lakh related jobs, and has witnessed massive response with 900 units being sold in the pre-launch Phase I itself.

Fadnavis said that the Maharashtra Government, as part of its mission of “Housing for All,” is aggressively working towards fulfilling its target of providing 10 lakh affordable houses in Mumbai Metropolitan Region by 2022 – and the Wadhwa Housing project is one of the developers helping in promoting the Government’s efforts. “I met the CEO of the World Bank in the USA and submitted a proposal which was approved. The Wadhwa Group’s Affordable Housing Project at Panvel will help decongest Mumbai, and I hope we get more such developers for providing affordable housing,” he added.

Noting that the Group has entered into a “JDA’ with the “Valuable Properties Pvt Ltd” - a subsidiary of the Bahrain-based Gulf Finance House (GFH) – and is planning to develop 138 acres out of its 450 acres area, Vijay Wadhwa, Chairman, Wadhwa Group, said that with all Phase I clearances completed including environmental and the mandatory Maha Rera, the project will offer Efficient Studio, 1, 2 and 3 BHK apartments - whose present 900 buyers included first-time home buyers and 70-80% salaried class being under 40 years of age and applying for home loan.”

“Connectivity is the ‘brand ambassador’ for this project - where Panvel offers excellent railroad connectivity to main city Mumbai, besides also being the “Gateway” to the Konkan Coast region and easing commute to other states in India. However, infrastructure developments like the upcoming Navi Mumbai International Airport, Mumbai Trans-Harbour Link, Virar Alibaug Multi-Modal Corridor etc are the factors driving demand for residential and commercial real estate in this ‘New Growth Corridor,” Wadhwa said, adding that recent studies highlighted the huge need for affordable housing across metro cities to meet the needs of the large influx of people coming in search of jobs and better livelihood.

Navin Makhija, Managing Director, Wadhwa Group, said that Panvel, as the most advanced infrastructure hub of India, was set to highlight itself as India’s classic example of an affordable housing hub – with the Government’s added focus on the region.

Gurudatta Deshmukh, Vice-President, Wadhwa Group, told this correspondent that the project will be constructed in various Phases with the first Phase set for completion in about four years, and the total project in about 8-9 years. With 100+ ‘Iconic’ projects under its belt, the Group’s search for diversification had led it into the ‘Affordable Housing’ segment that has been caused by demographic changes, he said adding “This is the largest such project by the private sector in India, and also the first Integrated Township of its kind.”

Source: The Financial World

Wadhwa Wise City To Deliver 10,000 Affordable Homes

The Wadhwa Wise City a project by The Wadhwa Group is going to deliver around 10,000 affordable homes and it will also hand over 1,000 units to the government, an official said.

“The project will offer a unique proposition of efficient Studio, 1 & 2 BHK apartments that will be constructed in various phases. Out of the total land holding of 450 acres, The Wadhwa Group is planning to develop 138 acres”, the release said.

The Wadhwa Group has entered into a JDA with Valuable Properties Pvt Ltd, an investment arm of Bahrain based Gulf Finance House (GFH) for the project.

According to the source, the development is done by The Wadhwa Group for some land parcels which are owned by Valuable Properties Pvt. Ltd and around 300 acres of land is owned by Valuable Properties.

In a conference meet on Friday for the first integrated township in NAINA (Panvel) under PMAY (U), Vijay Wadhwa, Chairman, The Wadhwa Group said, “Today developers who are making affordable houses are not focusing on a plan. The developer now a day’s decrease the ticket size, carpet area size but doesn’t lower the rate.”

He further added that instead of slashing the prize, reducing the margin, they compromise on plans.

The home buyer should focus on planning, connectivity and track record of the developer, he said.

Towards the mission of ‘Housing for All’, the Government of Maharashtra is aggressively working to fulfil its target of 10 lakh affordable houses in Mumbai Metropolitan Region by 2022.

Devendra Fadnavis, Chief Minister of Maharashtra on Thursday, inaugurated the first Integrated Township Project in NAINA (Navi Mumbai Airport Influence Notified Area) at Panvel which will qualify for Pradhan Mantri Awas Yojana (Urban) Scheme, will open up 5500 affordable homes and will be developed, release said.

The project saw a huge response with 900 units sold during the pre-launch phase itself, out of 1500 units that are currently opened for bookings.

Most of the customers are first time home buyers and salaried – class who are applying for home loan and project will be completed in 4 years.

Devendra Fadnavis, Chief Minister Of Maharashtra said, “With this launch, an affordable housing stock is being made available at the Wise city. The project has considered all amenities required for the common citizens and the township will be wise and smarter. With this, more developers will come to this belt.”

CIDCO has planned to develop a business park on land parcel area near the townships, Wadhwa said.

According to research showed by The Wadhwa Group, the 900 customers who booked their flats in a pre-launch sale are salaried profession around 75-80% and 55% are under the age of 40.

Panvel is connected to both, the central and western lines, it is also known as the gateway to the Konkan region, easing commute to the other states of India. Located close to Mumbai-Pune Expressway and the Sion-Panvel Expressway, travelling to either Mumbai or Pune is quite convenient. 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 the residential and commercial real estate in this new growth corridor.

According to recent studies, there is a huge need for affordable housing across metro cities where we see a large influx of people coming, in search of jobs and a better livelihood. Supporting the economic upliftment of the region, Wadhwa Wise City is expected to create 2.5 lakh jobs at various levels.

Source: Accommodation Times

The Wadhwa Group Eyes Rs 4,000 Crore Revenue From First Phase of Panvel Project

Real estate firm The Wadhwa group is eyeing Rs 4,000 crore revenue from the first phase of its 450-acre integrated township project in Panvel, Navi Mumbai, a top company official said.

The first phase of the project named ‘Wadhwa Wise City’, being developed on 138 acres under the Pradhan Mantri Awas Yojna (PMAY), will house 23 residential towers offering a total of 10,000 affordable homes, along with commercial and social infrastructure developments.

Navin Makhija, managing director, Wadhwa group, said the first phase is expected to be completed in the next seven to eight years.

“We currently have started work on the initial phase of this project where we will be creating 5,500 units, which will be completed in the next three to four years,” he said, adding, “We are expecting Rs 4,000 crore revenues once this entire project on the 138 acres is completed.”

The city-based company has tied up with Piramal Finance and PNB Housing for funding this project.

Makhija said Piramal Finance has invested close to Rs 125 crore and will further invest around Rs 250 crore.

“We also have received a sanction of Rs 650 crore from PNB Housing, out of which they have already invested Rs 350 crore,” he added.

The company claimed to have sold 900 units in the pre-launch phase so far.

Source: My Real Estate Point