Kalpataru to develop premium project in Mumbai for Rs 300 crores.

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As many as 171 units are being launched in the first phase with prices starting at Rs 73 lakhs.


Real estate developer Kalpataru Group has launched a premium residential project, Kalpataru Park Riviera, at Panvel in Mumbai comprising over 400 apartments. The project is being developed at a cost of over Rs. 300 crore.


The units spread over 2.4 acres and developed in two phases comprise 2BHK and 3BHK configurations.


In the first phase, 171 units are being launched across 2BHK and 3BHK configurations. Apartments in the first phase will be ready for possession by June 2025.


“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,” said Parag Munot, managing director, Kalpataru Ltd.


“Savings at a historical high between 8-10%, on account of softening of interest rates and various incentives by the government and industry makes this the best time to acquire real estate,” he said.


The project is located in the vicinity of the upcoming Navi Mumbai International Airport (NMIA) and the Mumbai-Pune and Mumbai-Goa highways. Also, in close proximity are the Panvel Railway station, the State Transport Bus Station and the under construction Mumbai Trans Harbor Link, which will provide quick access to the South and Central Mumbai Business Districts.