Kalpataru launches residential project at Panvel, Mumbai

Real estate major Kalpataru has launched a premium residential project, Kalpataru Park Riviera, at Panvel in Mumbai.

The project comprising over 400 apartment units across 2BHK and 3BHK configurations will be spread over 2.4 acres and developed in two phases. In the first phase, 171 units are being launched across 2BHK and 3BHK configurations with prices starting Rs. 73 lakh.

Apartments in the first phase will be ready for possession by June 2025, said a press release by the company. The project is being developed at a cost of over Rs. 300 crore, it said.

The amenity rich project comes with multiple leisure and recreation options including a clubhouse, party lawn, swimming pool, walking trail, outdoor fitness areas, gymnasium, spa, game rooms, and dedicated kids play areas, added the release.

“Panvel is emerging as Mumbai Metropolitan Region’s new realty hub, due to its strategic location between the industrial hubs and business districts, and the enormous infrastructure development underway. The city’s abundant green cover and air quality also makes it one of the country’s most livable destinations. Savings at a historical high between 8-10 pc, on account of softening of interest rates and various incentives by the Government and industry makes this the best time to acquire real estate” said Parag Munot, MD of Kalpataru Ltd.