anitadesai

Construction has started here and i think a few slabs are already up.the builder was asking for 70% payment on one of the buildings

wadia

They started fast but then because of the airport they have slowed down. As someone noted building 1 and 2 work is on hold. Even thought they are charging about 5K (including floor rise and extras), they do not seem to negotiate at all as they think that they can get better value after airport approval. Being so close to takka village shanties and raigad bazaar, I think they should not quote more than 4K at the moment. While our dear environment minister is trying his best, the airport project river diversion may cause flooding of kalpatru and takka village as Jairam fears. CIDCO is adamant on diverting the river even it causes panvel to be flooded every 2-3 years.

ranch99

Jimmy, short answer - I think builders will definitely pump up the prices once the announcement comes in. Can't predict how much but could be 10% or more and for good reason as well..

Personally I dont think the airport would have a long term boost on the price per se, but the improved connectivity with Greater Mumbai is what will drive the price. Without relying on the future commerical development in New Mumbai itself, if people can get to say BKC, Parel or other financial office areas in bit more than one hour "comfortably", it will be a huge plus for buying property in Panvel. Given the pace of Indian infra development, realistically I dont see that happening till 2020 (Metro/ fast trains etc). Everything said and done it is the financial sector that drives the mega price jumps in Mumbai now, thats where the bulk of the new demand is coming from. It is the trend around the world and is no different in Mumbai.

The plans may change anytime for the airport porject but its reasonable to say that Kalpataru may be 1-2 kms from the airport and almost the same from the Panvel station. This info is from google maps and from what I heard from others on this board and on the Internet.

I was thinking about Kalpataru myself but then there was the river rerouting issue and the question was if I really wanted a property that close to the airport with the traffic, noise and the riffraff hanging about..

wadia

I believe it will be a 20% surge but then you have to be careful if the base price was still correct. 5K I think is too much.
Travelling to Mumbai(BKC, Worli, Goregaon, Andheri) for work will be infeasible for a long time unless you want to spend 4 hours travelling. So you are betting on jobs/business beng created in Navi Mumbai.

The river is the major feature and the major problem for this project. There is high chance of flooding and if not it will definitely become the stinking Mithi. The project is in old panvel so the infrastructure layout around the project is terrible. Airport noise, I am not sure of whether this would be a problem as it will depend on the airport funnel.
The good part of the project is the builder but the problem is the builder knows he is in demand and hence charges the 1K premium.

omshanti69

Hi Friend ;

I have been reading your views / inputs on this forum and i appreciate the same.

I am relocating to mumbai for job prospects.My purpose of buying property is for residental as well as for investment purpose.I have been suggested Panvel as the right place to buy property from residential as well as from invetsment point of view.Since i am a service class person i would seek easy acess to office places which as of now exist mostly on western line.

Based on my preliminary survey i have shortlisted the following properties :-

1) Kalpataru Riverside
2) Pushp Bunglows , Vichumbe , New Panvel
3) India Bulls Greens
4) Hiranandani panvel Greens

My preliminary observation is that kalpataru is nearby to Panvel station.I had read in this forum earlier about possible flooding of adjasent river.However, i visited the site personally and i found that the ground level in Kalpataru was well upto the HFL ( High Flood Level which is same as existing bridge level across this river) and seemingly safe as the bride on this river also had approximately the same level as the ground level of Kalpataru.Further can i please link to the other members who have purchased flats in kalpataru through this forum ? Which all banks have provided loan approval for this project ?

I visited Hirnandani gardens and i found it to be 12 km from panvel station. Indiabulls greens is 5 km from the station.The posession time for both these properties is around 36 months.

Pushp bungalows are classy duplex bunglows of 3BHK + Parking being made by Bansal Estates.The site location is just about 1 km from Panvel station.I liked these bunglows but i have no idea regarding this builder Bansal estates.Is this a safe invetsment for Rs 65 lacks approx ?As per the builder loans shall be available from all the banks.

I am a very new member on this forum and therefore i seek valuable advice and opinion from other senior members of this forum like u so as to enable me to choose my property.

omshanti69

i wish to share and caution members here that to the best of my knowledge and belief there is an outstanding court case / land dispute over this property due to which most of the nationalised banks have not apporoved this property for loan.i had almost finalised this property and was about to issue a cheque when i finally changed my plan at the 11 th hour.

manugnair

Hi ,
I have also booked the flat recently ( a month back) and taken loan from SBI. Hence, we can be assured of no problem since SBI and HDFC both are the best banks and they do their deligence throughly before sanctioning a project.

I went for this since all the others ( India Bulls , Marathon and Hirnandani are very far from station )

Moreover with the Mumbai transharbour link (MTHL) coming this place will become more attractive since it would take only 30~45 mins to reach worli.

(MTHL) will be reach sewari from chikle near Nahva sheva and then would link to worli . ( Sewari to worli) another project for has been floated by MMRDA.
manu

devindrashah

Hi what's the current rate of kalpataru riverside? When is the possession likely to be given?

tab288

i am very much interested in buying 2bhk in Kalpataru riverside panvel project, but i am pulling back myself after knowing that there is case and land dispute. Please suggest should in purchase or stay away from this project.

sharpinvestor

Tab,

They already have got OC for one of their buildings and others are in full swing. All PSU and Private banks are also financing the project. Hence no problems of buying in there.