Your investment plans of choosing the luxury segment in Navi Mumbai is a safe bet.
Many new ambitious Panvel builders are taking a cue out of international portfolios when it comes to offering enticing homes at premium budgets.
Here are 4 things according to commonfloor.com, the leading real estate portal, to note before buying a luxury apartment or villa in Panvel.
Define Luxury
In India, the concept of luxury housing is a misnomer. While builders associate the tem with amenities, international standards reveal that luxury is all about innovation and space utilization. Greater the size of the unit, higher it will rank in the luxury segment. Before buying a luxury apartment, calculate the carpet area. If it is 1500 square feet plus, you are making a great investment.
Some units in Luxury segment can be as big as 5000 square feet, but the cost will inflate proportionally too. So pick your right size.
Do a back ground check on the projects
Even the most high-profile builders and developers from the luxury realty segment are plagued by legal issues, ranging from poor maintenance, breach of trust and over-shooting possession dates. Do a background check before buying a luxury unit in Panvel. Since, this is a fairly new segment in the region, you are likely to see more disappointments if you fail to assess the project in advance.
Scope of personalized customization and innovation
If it is a luxury villa in Panvel, it should be international in its appeal. Be it the architectural brilliance or the inclusion of latest building concepts, luxury projects are the most contemporary housing options. In Panvel, there are 6 mega housing projects that feature in the list of luxury home developers. Arihant, Marathon, Balaji and Kalpataru are handful of them who offer personalized customization in designs and appeal. Innovation package include use of eco-friendly paints on the walls, anti-UV glasses on windows, earth-quake resistant structure and even energy-efficient compact materials on walls to improve cooling. Investing INR 2 Crore plus in this segment means you will reap rich dividends every day. Luxury living is a bonus!
Tall versus Flat
Tall projects in India with 80 units in a building are called luxury units. Refrain from choosing such projects. If you have a heavy pocket, invest in a project that has ample space in common area, free flowing community and of course respectable clientele. In a luxury home project, you choose your neighbours with similar style. Panvel is now preferred for this very reason in luxury housing.
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