Towards the mission of ‘Housing for All’, the Government of Maharashtra is aggressively working to fulfill its target of 10 lakh affordable houses in Mumbai Metropolitan Region by 2022. With a view to support this initiative, Shri Devendra Fadnavis, Chief Minister of Maharashtra, yesterday, inaugurated the first Integrated Township Project in NAINA (Navi Mumbai Airport Influence Notified Area) at Panvel. Called as ‘Wadhwa Wise City’, this mega project, which will qualify for Pradhan Mantri Awas Yojana (Urban) Scheme, will open up 5500 affordable homes and will be developed by one of Mumbai’s leading developers, The Wadhwa Group. 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. The project will make Panvel as the most sought after region for affordable housing
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.
