The Panvel Post

Civic issues, Features and Personalities of Navi Mumbai

Delay in New airport shakes small scale investors in Panvel.

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Posing a great threat for property markets and small scale investor in Panvel, as proposed international airport in Navi is delaying. Recent news on our newspapers and developments in government related to the new airports are not so encouraging for investors and property traders in Panvel. For many years newspapers are continually projecting the new airport and its potential to transform the face of Panvel. This rocketed the property prices in Navi Mumbai as well as Panvel. Recent survey by a major newspaper says, property prices in Panvel are raised by 66% in 4 years, primarily due to upcoming Airport. Investors in the area are expressing their concerns about delaying.

Another survey said that, Panvel becomes the third most searched place for property in Maharashtra. This shows the involvement of real estate and heavy investors in the area. Small investors including individuals were also interested in investing and own property near to the airport. But delaying in the sanctions and acquisition of land had hit those investors and traders related to the topic. Property sales have witnessed huge investments from different parts of the country, even by politicians and market giants. Property sales in the place have already got suspicious fluctuations. If delaying further continues, small scale investors will be hitter harder.

Praveen Kore, a small scale investor and resident in Panvel, said “Newspapers had done a great job in projecting the new airport and resulted in high prices for property. Delaying in the airport developments is suspicious and only result in a mess. Though high scale investors will not be hit hard, small scale investors may lose many things. If proper measures are not taken, small scale investors will be compelled to sell their property in less price.”

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Government has announced different plans for land acquisition, but nothing gone ahead some discussions. Recently Maharashtra government is planned to create a township for those project affected persons in the new international airport in Navi Mumbai.

more reading…….


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This entry was posted on May 23, 2013 by in Civic Issues and tagged , , , , , .

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