The combined Panvel residential and commercial site has been designated as a Special Economic Zone, which will provide tax advantages for both Hirco and occupants of the development.

India’s SEZs are specifically delineated, duty-free enclaves that are deemed to be foreign territory for the purposes of trade operations and duties and tariffs. SEZs were introduced in India to provide an internationally competitive and less complicated environment for exports.

Hiranandani Palace Gardens, Panvel is strategically located near the recently announced second Mumbai International Airport at Navi Mumbai, as well as major railways. Additionally, Panvel Residential and Panvel Commercial will benefit from the strong growth in the Mumbai-Pune corridor, which is becoming a preferred location for Mumbai’s growing middle class segment.

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