Panvel is located in Raigad district of Maharashtra and is one of the fastest growing real estate market in Navi Mumbai and Mumbai Metropolitan Region (MMR). Raigad has been contributing significantly to Maharashtra GDP since past few years and has seen around 10% CAGR growth annually which is much higher than any other nearby real estate hotspots like Pune, Mumbai and Thane. Panvel accounts for nearly 25% addition to the Residential Real Estate developments in Raigad between 2013 to Q2 2019. It is emerging as an ideal destination for the ones willing to invest in residential property segment owing to low property prices. Various integrated townships and large-scale group housing projects by some of the renowned developers are offering 4, 3, 2 and 1 BHK flat in Panvel. Panvel offers a perfect blend of various leisure, education, entertainment and employment opportunities within its gambit and boasts of excellent connectivity quotient which are the key reasons behind its emergence as the new realty hotspot.
Property prices in Mumbai are sky-rocketing. In such a scenario people are looking for properties in affordable range in the areas nearby which boast of good connectivity and are well equipped with all the major social amenities and facilities. Panvel is one such promising location. It is already making its mark as the centre point of the future. It is a successful real estate saga being scripted by the slew of upcoming mega infrastructural developments like Mumbai Trans-harbour link, the Navi Mumbai International Airport, Metros and CSMT-Panvel fast lane railway linkages. The upcoming freeways, waterways and expressways are going to provide a fillip to its connectivity. The new RORO all-weather craft connectivity will effectively extend South Mumbai across the harbour to Alibaug, creating a new business and socio-cultural hub in South Mumbai.
Connectivity, Social Amenities and Upcoming Infrastructural Developments
- Panvel is known as the threshold of Konkan region. Some of the major highways connecting Panvel to nearby areas are NH-4, NH-4B, NH-17, Mumbai-Pune Expressway and Sion-Panvel Expressway.
- There are Panvel Municipal Council (PMC) and NMMT buses running between Panvel and Bhiwandi, Thane, Badlapur, Kalyan, Dombivli, Dadar and Uran. There are two main bus stands in the locality: ST stand and NMMT stand.
- The Panvel Junction is the terminating station for the Mumbai suburban railways Harbour Line. There is a planned Navi Mumbai metro corridor from Vashi to Panvel.
- Social infrastructure in Panvel is growing day by day. It has a number of renowned education and health institutions. DPS Panvel, St. Joseph High School Panvel, Mahatma Phule Arts, Science and Commerce are to be named some.
- There are several commercial and business establishments such as Larsen & Toubro Ltd, Reliance, Hindustan Organics Chemicals Ltd, ONGC and IPCL situated in and around Panvel.
- Panvel is close to several industrial areas such as Taloja, Khopoli, Patalganga, Bhiwandi, Turbhe, Kopar Khairane, Ghansoli and Airoli.. The area itself houses the CCI Logistics Park and is well connected to CBD Belapur.
- Upcoming Navi Mumbai International Airport will be located in Kopar Panvel area.
- The JNPT port in Nhava Sheva, the upcoming Delhi Mumbai Industrial Corridor (DMIC) and the dedicated freight corridor (DFC) are situated near Panvel.
Various residential projects in Panvel offer a wide range of affordable, mid-segment and luxury property options to the discerning investors and end users. Prominent developers are coming up with various best-in-its-league real estate projects in Panvel that are changing its skyline. Since majority of the current planned developments in and around Panvel are Greenfield projects, it clearly indicates that government is trying to tap the unexplored potential of the region.
The new residential projects in Panvel fall in the affordable budget segment. The expected rise in white collared jobs in the district is likely to boost growth of the overall residential real estate market in Panvel. Moreover, there is a huge possibility of a paradigm shift in launches and growth trends owing to the upcoming developments.