Panvel

The city of Panvel in Maharashtra was for years seen as a distant suburb of the bustling metropolis of Mumbai. It bore the look of a highway town, catering to travellers coming towards Mumbai from Pune or Goa, whose highways pass through Panvel. Major nodes such as the Mumbai’s central suburbs, Navi Mumbai, Thane and Kalyan are easily reachable from here, by road and rail.  Many container and passenger trains, which bypass Mumbai, halt here. All the growth the city is seeing is likely to lead to even more growth going forward.

Panvel Junction

Will Panvel Beat Navi Mumbai To Become The New Gateway?

Last updated on June 2, 2017 by Chrisanta Dias

There was a time when Panvel was looked upon as a quaint, sleepy village-town which woke up under early morning fog drifting down from the nearby mountains. Investing in Panvel meant owning a piece of agricultural land or possibly constructing a comfortable farmhouse for those lazy weekends spent away from the bustle and chaos of Mumbai city. Trains to Panvel were periodic, one every 30 to 45 minutes so you had to time your arrival to that of the train or endure a long and boring wait for it. Else you had to organise your own transport to get ‘out of town’. Heading to Panvel also meant packing up all the emergency supplies you could imagine you might need as the chances of acquiring them at the local stores were slim to none. All of this has changed dramatically in the last decade since the turn of the century. Panvel …

Will Panvel Beat Navi Mumbai To Become The New Gateway?

There was a time when Panvel was looked upon as a quaint, sleepy village-town which woke up under early morning fog drifting down from the nearby mountains. Investing in Panvel meant owning a piece of agricultural land or possibly constructing a comfortable farmhouse for those lazy weekends spent away from the bustle and chaos of Mumbai city. Trains to Panvel were periodic, one every 30 to 45 minutes so you had to time your arrival to that of the train or endure a long and boring wait for it. Else you had to organise your own transport to get ‘out of town’. Heading to Panvel also meant packing up all the emergency supplies you could imagine you might need as the chances of acquiring them at the local stores were slim to none.

All of this has changed dramatically in the last decade since the turn of the century. Panvel has slowly emerged out of the shadow of its more illustrious neighbour – Navi Mumbai. While Navi Mumbai or New Bombay as it was formerly known, was developed as an antidote to Mumbai — better town planning, wider roads designed to have actual pavements which are tree lined and more durable than Mumbai’s roads — Panvel’s development has been more subtle.

Real estate development in Panvel has been more as a response to the growing need for housing for the middle and low-income population of the city. The sky-high prices of the city and suburbs has driven people further outside the city limits and developers have quickly drawn up plans to quench this need. Navi Mumbai’s growing stature as a substitute for Mumbai served to raise prices of homes there as well. All of this resulted in improving the growth of Panvel.

Many big ticket developers who have made their name building luxury residential complexes and towers in Mumbai have turned to Panvel in the hopes of building the dream homes of the masses. We look beyond residential developments in Panvel to analyse why this once quaint, sleepy locality is transforming into a mega township that could beat Navi Mumbai as the next gateway.

Panvel infrastructure
Panvel infrastructure

Industrial Township

Employment is the biggest draw of any town, city, state or even country for that matter. Panvel is surrounded by some major employment generators. The Maharashtra Industrial Development Corporation (MIDC) manages the nearby regions of Taloja, Nagothane, Roha, Khopoli, Bhiwandi and Patalganga which house many small and medium scale industries as well as cottage industries. A number of the industry biggies also have industrial centres and plants around Panvel like Larsen & Toubro, Reliance, ONGC, IPCL and others. The massive JNPT port, a major employer is also close by in addition to the business parks in CBD-Belapur.

Connectivity

Panvel is not as isolated as it once was. While it might be the last stop on the Harbour Railway Line, the frequency has improved to match its nearby suburban towns and it has also become the starting point of local trains upto Chhatrapati Shivaji Terminus (CST). NMMT & BEST operate regular bus routes with appreciable frequency. Panvel also lies on or close to nodal road transport routes like the Mumbai-Pune Expressway and Mumbai-Goa highway. The newly developed Sion-Panvel Highway connects Panvel to Navi Mumbai and many other central suburbs. The Trans Harbour Link and Navi Mumbai Metro will further improve connectivity.

Site for Navi Mumbai Airport (Image courtesy: NMTV)
Site for Navi Mumbai Airport (Image courtesy: NMTV)

Panvel is also an important stop on the Konkan Railway with a number of major outstation trains on varying routes stopping at this now major train terminus. The most crucial, infrastructurally transformative development for Panvel will be triggered by the development of the newly cleared ultra-modern Navi Mumbai International Airport.

Social Amenities

A decade ago we may have found it difficult to locate a decent store stocked with supplies we consider necessities in the city. Today local general stores have expanded to departmental stores, chains of stores like D-Mart and even malls. Some of the big names like Big Cinema, K-Mall, Orion Mall have sizeable footfalls, drawing in crowds from nearby suburbs.

There are a number of good schools and institutes in Panvel as well. DAV Public School, St. Mary’s, St. Joseph’s and St. George’s School, Huda School, Dr. Pillai’s International School are some popular and well-known schools. There are also many colleges and institutes run by names like Mahatma Education Society, Konkan Education society in addition to Pillais Institute of Information Technology, Engineering, Media Studies & Research, Amity University, Changu Kana Thakur School and Jr College.

Medical care has also improved considerably. There are nursing homes, speciality care hospitals and general hospitals. Lifeline Hospital, Arunodaya Hospital, Paramount Hospital and Noble Care Hospital are some of the well known names.

Karnala Fort
Karnala Fort

Panvel is also well known for its greenery and scenic locales like Karnala Fort and Bird Sanctuary, Gadeshwar Dam, Old Jama Masjid, Ballaleshwar Pali as well as Matheran and Khandala – popular weekend tourist hotspots. Panvel is also close to Della Adventures in Lonavla and Adlabs Imagica in Pune.

Upcoming Projects

WIth the clearance of the Navi Mumbai International Airport project, City and Industrial Development Corporation of Maharashtra (CIDCO) has been authorised to develop the Navi Mumbai Airport Influence Notified Area (NAINA). This is expected to unlock massive real estate and economic value for Panvel and its nearby areas as well as bring about rapid urbanisation, infrastructural and industrial growth.

CIDCO
CIDCO

The recent completion of the Delhi-Mumbai Industrial Corridor (DMIC) has elevated Panvel’s status to an important logistical hub in conjunction with its proximity to JNPT. The proposed Mumbai Trans Harbour Link connecting Sewri to Nhava Sheva will be the longest sea bridge in India, and along with the proposed and under construction Navi Mumbai Metro, will serve to decongest road and rail routes between Panvel and CST.

Rising Capital Value

Panvel’s lure as a viable real estate investment option has only multiplied manifold with these many developments. People are now viewing it as an option for a weekend or second home to park excess funds. For many first home buyers it remains an attractive and affordable residential location with rapidly improving amenities and lifestyle options. Marathon Developers are developing their flagship affordable residential township Nexzone here. Over the last few years rental values have seen an upwards of 20% spike as demand grows.




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Panvel Railway Station

Panvel – Real Estate Growth Prospects Riding On Future Development Plans

Last updated on May 24, 2017 by Manish Kumar

The city of Panvel in Maharashtra was for years seen as a distant suburb of the bustling metropolis of Mumbai. It bore the look of a highway town, catering to travellers coming towards Mumbai from Pune or Goa, whose highways pass through Panvel. Housing complexes were, by and large, small in size and there were few, if any, high rises. This picture has changed drastically in recent years and how! The city now, is a major population center and has most, if not all, the trappings one would expect of a modern, developed city. In particular, the rise of New Panvel as a major residential and commercial magnet, has led to rapid infrastructural development in both the newer and older parts of the city. We examine how this transformation has occurred and what does the future hold for this city. Panvel: Location Panvel is located in Raigad district, in close proximity …

Panvel – Real Estate Growth Prospects Riding On Future Development Plans

The city of Panvel in Maharashtra was for years seen as a distant suburb of the bustling metropolis of Mumbai. It bore the look of a highway town, catering to travellers coming towards Mumbai from Pune or Goa, whose highways pass through Panvel. Housing complexes were, by and large, small in size and there were few, if any, high rises. This picture has changed drastically in recent years and how!

The city now, is a major population center and has most, if not all, the trappings one would expect of a modern, developed city. In particular, the rise of New Panvel as a major residential and commercial magnet, has led to rapid infrastructural development in both the newer and older parts of the city. We examine how this transformation has occurred and what does the future hold for this city.

Panvel: Location

Intersection of the Mumbai-Pune and Mumbai-Goa highways at Palaspe Phata near Panvel
Intersection of the Mumbai-Pune and Mumbai-Goa highways at Palaspe Phata near Panvel

Panvel is located in Raigad district, in close proximity to both Greater Mumbai and Thane districts. Major nodes such as the Mumbai’s central suburbs, Navi Mumbai, Thane and Kalyan are easily reachable from here, by road and rail. The junction of the Mumbai-Pune highway and Mumbai-Goa highway is also located near this city. It also serves as a gateway to the Konkan region as well as the prosperous belt of Western Maharashtra.

Another positive with this city is its proximity to major industrial parks. Large plants such as that of Larsen & Toubro (L&T), Reliance, ONGC etc. are present in and around here. Apart from New Panvel, other zones such as MIDC Taloja and Patalganga lie within an 18 km radius of Panvel. It also serves as a convenient residential destination for people working in Nagothane or Roha in the Konkan region and even Kopar Khairane, Kharghar and CBD Belapur in Navi Mumbai.

Unlike these Navi Mumbai areas, which are nearing saturation, Panvel has more land availability and is more affordable as a residential destination. The city is also near Jawaharlal Nehru Port Trust (JNPT) at Nhava-Sheva, which is one of India’s largest and most important ports. Hence, the abundance of employment opportunities in and around this city has seen plenty of demand for housing here.

Panvel: Connectivity

Possibly, the biggest positive of Panvel is its excellent connectivity to all its surrounding areas. Apart from being the starting point of the aforementioned highways to Goa (which links it to Konkan) and Pune (which links it to Bangalore and Hyderabad), Panvel is also the starting point of the Mumbai-Pune Expressway, which ensures that one can reach Pune within a couple of hours from here. The Sion-Panvel highway connects the city to Navi Mumbai and the central suburbs of Mumbai. It is also directly connected by road to Uran, where JNPT is located.

Panvel is a major railway station, handling both suburban and long distance trains. It serves as a terminus for the suburban Harbour line, which connects it directly to Chhatrapati Shivaji Terminus (CST) in south Mumbai. It is also an important station on the Konkan railway line and is directly connected to Thane and Khopoli. Many container and passenger trains, which bypass Mumbai, halt here.

While the city is quite far from the current Mumbai airport, the ultra-modern Navi Mumbai international airport is to come up right next door in the next few years. This should provide a massive boost to the infrastructure in and leading up to the city and demand for housing is expected to see a major rise as a result. In fact, Panvel is likely to emerge as a major central hub in its own right, once the airport project and other proposed infrastructural projects are cleared.

Panvel: Social Amenities

The city’s continued and seemingly unstoppable rise has attracted prestigious service providers in the educational, retail and healthcare sectors, among others. it does not lag behind Mumbai, Navi Mumbai, Thane or Pune when it comes to social amenities.

Orion Mall in Panvel
Orion Mall in Panvel

Panvel boasts of many top class schools such as DAV Public School, Barns High School, New Horizon Public School, the Buddhist International School and Dr. Pillai’s International School. Similarly, many higher educational institutions such as Amity University Mumbai Campus, MGM College of Engineering & Technology and Pillai College of Engineering are located in or near the city.

Lifeline Hospital in Panvel
Lifeline Hospital in Panvel

A number of multispecialty hospitals have also opened here, catering to medical needs of residents, some of which include Satyam Multispecialty Hospital, Life Care Multispecialty Hospital, Gandhi Hospital and Lifeline Hospital. Malls such as Orion Mall, Mahalaxmi Mall and K-Mall, provide shopping and entertainment facilities for residents of the city.

All the growth the city is seeing is likely to lead to even more growth going forward. More development and more residential population will lead to greater demand for such services and hence, attract numerous renowned service providers in these and other spheres.

Panvel: Affordable Homes and an intriguing investment opportunity

Panvel, in recent years, has seen property rates for a multistory apartment, more than double from an average of ~Rs. 2600/sq. ft. in early 2008 to ~Rs. 5300/sq. ft. today. That being said, home prices in Panvel remain extremely affordable for most sections and actually, represent quite a bargain in the otherwise expensive Mumbai Metropolitan Region. In fact, one can buy a 1 BHK apartment for Rs. 20-25 lakh, which is a figure unheard of in Mumbai or Navi Mumbai for that matter. Rental rates, at an average of Rs. 11/sq. ft. are well within a prospective resident’s budget.

For a real estate investor, investing in upcoming areas of this city at this stage is likely to be a worthwhile investment. With the airport and many other infrastructural projects due to come up, it is likely to pull more industries here and in turn, push up the housing demand. If the rapid development of similar areas in and around Mumbai is anything to go by, investors stand to make massive returns on their investment in the not too distant future.

Panvel: Future Development Plans

If Panvel’s present seems bright, the future offers even more promise. While all eyes are on the Navi Mumbai international airport and the benefits that will accrue as a result, it is not the only major development. The City and Industrial Development Corporation of Maharashtra (CIDCO) has played a key role in the emergence and development of New Panvel and its association with the city is going to strengthen further, with it being given charge of the Navi Mumbai Airport Influence Notified Area (NAINA). This new development is expected to bring rapid urbanization and industrial growth in and around Panvel.

In addition, the city is likely to become one of India’s biggest logistics hubs, once the Delhi-Mumbai Industrial Corridor (DMIC) is completed and becomes operational, owing to its proximity to JNPT. The proposed Trans-Harbour link from Uran to Sewri also holds out much promise, connecting Panvel to Mumbai harbor and sharply reducing the travel time between these places. Central Railways too is planning a Terminus for long distance trains here, in order to decongest CST.

As mentioned earlier, the Navi Mumbai international airport promises to be a game-changer in Panvel and its surrounding areas. This airport, which is projected to serve a whopping 90 million passengers per year by 2030, will make this city a major destination for travelers from Mumbai, Pune and other areas further away. With a large number of hotels, industries, quality roads and other support services coming up as a result, plenty of employment opportunities will be created and demand for quality housing is likely to shoot up. One can say that Panvel seems poised as a major growth engine both now and in coming years.




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Panvel real estate project of Balaji Symphony on Matheran Road

Panvel real estate: The best localities to invest in for a dream home

Last updated on May 23, 2017 by Manish Kumar

Panvel was for long considered primarily as a halt for travelers on the way to or from Mumbai from Pune, Kolhapur, Goa or further away in the south, due to its location at the junction of the Mumbai-Pune-Bangalore and Mumbai-Goa highways. Panvel old town was primarily composed of low rise apartment buildings. However, today the picture has changed drastically, with Panvel real estate viewed as a major investment opportunity near Mumbai. This interest has not come overnight, but has risen from a combination of factors. Whether it be the city’s connectivity to major industrial and logistics hubs, the vast tracts of land available or important infrastructure projects being planned in and around it, all have had a positive influence to this market. In this article, we analyze why does Panvel real estate intrigue investors and where do they put their money to achieve maximum value. Panvel real estate: Why should …

Panvel real estate: The best localities to invest in for a dream home

Panvel was for long considered primarily as a halt for travelers on the way to or from Mumbai from Pune, Kolhapur, Goa or further away in the south, due to its location at the junction of the Mumbai-Pune-Bangalore and Mumbai-Goa highways. Panvel old town was primarily composed of low rise apartment buildings. However, today the picture has changed drastically, with Panvel real estate viewed as a major investment opportunity near Mumbai.

This interest has not come overnight, but has risen from a combination of factors. Whether it be the city’s connectivity to major industrial and logistics hubs, the vast tracts of land available or important infrastructure projects being planned in and around it, all have had a positive influence to this market. In this article, we analyze why does Panvel real estate intrigue investors and where do they put their money to achieve maximum value.

Panvel real estate: Why should one invest here?

Generally, an area’s attractiveness as an investment destination is a function of the current state of affairs and future prospects. Panvel scores big on both these aspects.

Good Connectivity

Panvel is well-connected to the cities of Mumbai, Pune, Bangalore, Kolhapur, Hyderabad and the state of Goa by excellent highways emanating from here. It also serves as the terminus of the Harbour line of Mumbai’s Suburban railway system. Its proximity to industrial hubs and to the massive JNPT port makes it a convenient residential destination. Availability of vast tracts of land around Panvel for industrial and residential developments is a further positive.

Future Developments

Site of the Navi Mumbai International Airport, around which the NAINA megacity is planned to come up
Site of the Navi Mumbai International Airport, around which the NAINA megacity is planned to come up (Image credit: Mid-day.com)

Looking ahead, the future prospects of Panvel real estate appear quite good. With the Navi Mumbai International Airport due to come up next door, infrastructure is expected to get a boost. Also on the cards is the Navi Mumbai Airport Influence Notified Area (NAINA), a megacity project on Panvel’s outskirts, expected to decongest the Mumbai Metropolitan Area as well as the Trans-Harbour link, directly connecting JNPT to Mumbai harbor. All these mega projects will create a host of employment opportunities in Panvel’s neighbourhood and lead to increased housing demand in the years to come.

Property price appreciation

Property rates in Panvel are quite affordable, in comparison to the rest of Mumbai. At an average of ~Rs. 5700/sq. ft., there is a strong possibility of significant appreciation in the near to medium term, particularly in light of the developments mentioned above. For an investor looking for good returns in Mumbai real estate, Panvel is one of the better bets.

Second/vacation home

Panvel also benefits from its proximity to the picturesque Western Ghats and the hill stations of Matheran, Lonavala and Khandala, along with the Karnala Bird Sanctuary. This makes Panvel a great location for people for across the country looking for a second home or a vacation home.

Panvel real estate: Which hotspots should one invest in?

In view of the major projects coming up around Panvel, one can see two major real estate investment corridors emerging: one between Panvel and JNPT and the other around the Navi Mumbai airport and NAINA. Each of the areas mentioned below offer plenty of promise to potential investors.

Matheran Road

Sales office of Panvel real estate project Monarch Greenspaces on Matheran Road
Sales office of Panvel real estate project Monarch Greenspaces on Matheran Road

This road is the main link to the popular hill station of Matheran from Mumbai and its suburbs. It is one of Panvel’s most sought after destinations for real estate investors and developers alike, due to vast land availability at affordable rates, great views of the majestic Western Ghats and a pollution-free climate.

Especially popular among those looking for a second home or vacation home, a number of professionals too have made a beeline for apartments here away from the hustle and bustle of Panvel city. Many established as well as local developers have come up with extremely affordable projects here, with homes available for a starting price of ~Rs. 20-25 lakhs, which represents a bargain, particularly in the Mumbai metropolitan region. It is also easily reachable from Panvel railway station and from the Mumbai-Pune highway.

Khandeshwar

Khandeshwar is well-connected to Panvel, Mumbai and Navi Mumbai by road as well as by suburban railway. Its proximity to the Taloja, Kalamboli and Kamothe industrial hubs as well as the Navi Mumbai international airport ensures apartments here will be in high demand and makes it a good investment destination. Property rates for a multistory apartment have more than doubled from an average of ~Rs. 3100/sq. ft. in 2010 to ~Rs. 6700/sq. ft. today and the probability of major increase going forward is very high.

Karanjade

Karanjade is located on the road, linking Panvel to JNPT and is among the areas expected to benefit heavily from the Trans-Harbour link and NAINA projects. Property prices here currently stand at an average of ~Rs. 4900/sq. ft., which is appealing to an investor, with a strong likelihood of good returns. Many national-level as well as local builders are planning projects here.

Palaspe Phata

Panvel real estate project of Marathon Nexzone in Palaspe Phata
Panvel real estate project of Marathon Nexzone in Palaspe Phata

Palaspe Phata lies at the tri-junction of the Mumbai-Pune highway, Mumbai-Goa highway and the JNPT road. It is the location for some major logistics parks and is also within close proximity of the industrial areas of Khopoli, Pen and Rasayani. Its excellent location has attracted many developers and represents a good opportunity for investors. The average property price here is ~Rs. 5700/sq. ft. and plenty of appreciation is expected.

New Panvel

New Panvel benefits from excellent infrastructure whether in terms of roads or electricity supply, having been built by CIDCO, which was also behind Navi Mumbai. Recently moved under the Panvel Municipal Corporation by the state government, New Panvel, particularly the eastern side, offers a good investment opportunity with large multistory residential projects by reputed builders coming up here.

With the Panvel railway station located here and the Mumbai-Pune highway passing through here, connectivity to Mumbai, Pune and other surrounding areas is excellent. With an average property rate of ~Rs. 5300/sq. ft., New Panvel promises great returns going forward.

Conclusion

Panvel is truly at the crossroads of a major transformation and investing in the upcoming areas in and around this city does look to be a very prudent option, particularly in view of the saturated housing market and extremely high prices in other parts of the Mumbai Metropolitan Region. One needs to do due diligence of the emerging areas and the projects coming up in each of them, before deciding on the most suitable option, whether one is an investor or an end-user.




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Orion Mall in Panvel

Panvel – A top upcoming real estate hotspot in Navi Mumbai

Last updated on January 16, 2017 by Manish Kumar

When one discusses the real estate market in the Mumbai Metropolitan Region (MMR), the first thing that comes to mind is how incredibly expensive it is, due to land being at a premium and ever rising demand owing to the magnetic pull of India’s financial capital. However, not all areas in MMR spell doom and gloom for prospective home owners or investors. One can still get their dream home here without needing to pay over the odds. Panvel is one such area. Location Panvel, located in Raigad district, marks the eastern extremity of Navi Mumbai. Panvel serves as a gateway to the MMR, Jawaharlal Nehru Port Trust (JNPT) at Uran, Konkan region as well as the prosperous western Maharashtra and is thus, located in a commercial and industrial sweet spot. Panvel’s proximity to major industrial areas such as MIDC Taloja, Kalamboli and Patalganga is an added advantage. Large factories of …

Panvel – A top upcoming real estate hotspot in Navi Mumbai

When one discusses the real estate market in the Mumbai Metropolitan Region (MMR), the first thing that comes to mind is how incredibly expensive it is, due to land being at a premium and ever rising demand owing to the magnetic pull of India’s financial capital. However, not all areas in MMR spell doom and gloom for prospective home owners or investors. One can still get their dream home here without needing to pay over the odds. Panvel is one such area.

Location

Panvel, located in Raigad district, marks the eastern extremity of Navi Mumbai. Panvel serves as a gateway to the MMR, Jawaharlal Nehru Port Trust (JNPT) at Uran, Konkan region as well as the prosperous western Maharashtra and is thus, located in a commercial and industrial sweet spot.

Panvel’s proximity to major industrial areas such as MIDC Taloja, Kalamboli and Patalganga is an added advantage. Large factories of giants such as Larsen & Toubro (L&T), Reliance and ONGC are located in and around Panvel. Add to this its proximity and good connectivity to IT and commercial hubs such as Kopar Khairane, Kharghar and CBD Belapur in Navi Mumbai and one can see why Panvel is evincing so much interest.

Connectivity

Panvel has excellent road and railway connectivity to Mumbai as well as other places. It is the starting point of the Mumbai-Pune expressway, the Mumbai-Goa highway and NH4 (Mumbai-Bangalore-Chennai). The Sion-Panvel Highway connects Panvel to Navi Mumbai and the central suburbs of Mumbai. A direct road links Panvel to Uran, where JNPT is located.

Panvel is a major railway station, serving as a terminus for Mumbai’s suburban Harbour line, which connects it directly to South Mumbai, Andheri and Navi Mumbai. Panvel is the gateway to the Konkan railway line and is directly connected by lines to Thane and Pune and from there, to the rest of the country.

Panvel Railway Station
Panvel Railway Station

The proposed Navi Mumbai International Airport is to come up next to Panvel and the benefits it will provide in terms of improved connectivity domestically and internationally, along with generating direct and indirect employment, are likely to lead to a major boost to development. The ambitious Trans-Harbour link project, recently given the green light, will reduce the travel time to south Mumbai by road significantly.

However, internal connectivity is not so good, particularly when one considers the upcoming residential hotspots of Matheran Road and Palaspe Phata. These areas, which are seeing most new projects coming up, are not served by Navi Mumbai Municipal Transport (NMMT) buses and if one does not have their private vehicle, they need to rely on shared autos or six-seaters. Also, the condition of roads, particularly Matheran Road, is not too good; they are narrow and rather bumpy.

Social Conveniences

Panvel may not have the surfeit of social conveniences as other parts of Navi Mumbai such as Vashi, but is not too short on that front either. Panvel has numerous top class schools such as DPS School, DAV Public School, New Horizon Public School and Dr. Pillai’s International School. Higher educational institutions such as Amity University (Mumbai Campus) and Pillai College of Engineering are located in or near the city.

Panvel has a number of good healthcare providers such as Lifeline Hospital, Satyam Multispecialty Hospital and Gandhi Hospital. The city also has couple of malls such as Orion Mall and K-Mall, providing shopping and entertainment for residents. Greater development will see more such conveniences come up.

Lifeline Hospital in Panvel
Lifeline Hospital in Panvel

Homes suiting all segments

Panvel hitherto was dominated by low rise buildings. However, the profile of the city is changing and so are the residential options available. In areas such as Matheran Road, Karanjade and Palaspe Phata, one can see many high rise apartment projects coming up. Many reputed developers such as Wadhwa are also coming up with large townships around the city. With a mix of accommodations ranging from 1 to 4 BHK apartments to row houses and villas available, the city will cater to all segments of home buyers.

Vacation or second home buyers too will be attracted to Panvel with its lower traffic congestion and pollution levels and its proximity to the Western Ghats and the hill stations of Matheran, Lonavala and Khandala. A major driver for this demand is the affordability of homes in the city. Property prices lie in the range of Rs. 3000-6000/sq. ft., which is nothing in comparison to not just Mumbai, but also almost all areas of Navi Mumbai, which are a lot more expensive. One can buy a 1 BHK apartment for a price starting from Rs. 20 lakh here. For someone looking to stay on rent, Panvel is quite good with an average rental rate of Rs. 11/sq. ft.

Good returns for investors

Panvel has seen healthy appreciation in rates for a multistory apartment, from an average of ~Rs. 2600/sq. ft. in early 2008 to ~Rs. 5300/sq. ft. today. This appears to be just the beginning. With the aforementioned Trans-Harbour link and Navi Mumbai International Airport likely to boost connectivity, a large appreciation in the near future seems probable. Also, a new megacity called as the Navi Mumbai International Airport Influence Notified Area (NAINA) is planned to come up next to Panvel, which will add to the development of the area further.

Upcoming projects

Marathon Realty, a major developer in the MMR, is coming up with Marathon Nexzone in Palaspe Phata. Phase 1 of Marathon Nexzone is to offer 2 and 2.5 BHK apartments in 12 towers, each of which have 33 levels. Amenities such as landscaped gardens, gymnasium etc. will be provided to residents.

Marathon Nexzone in Panvel
Marathon Nexzone in Panvel

Located near it is the 42 acre Sai World City township by the Paradise Group. Currently, excavation work is on at the site, but once complete, it will offer 2, 3 and 4 BHK homes, across 13 high-rise towers of 42 levels each. The developer promises amenities such as an Amazon forest Park, a bayside beach, a Zen center and an Opera floating café, inspired by famous landmarks from across the world.

Move to Matheran Road and soon after crossing the underpass to the Mumbai-Pune expressway, one can see the under-construction towers of Balaji Symphony. Built by Space India Developers, it offers 1, 1.5, 2 and 3 BHK apartments, with a host of amenities on ground level as well as the roof top, the latter including a Sky Court, Sky Coffee Bar and a Sky Lounge.

Site of Balaji Symphony in Panvel
Site of Balaji Symphony in Panvel

Further down this road is the site of Monarch Greenscapes by Monarch Universal. This project offers 1 and 2 BHK ‘smart homes’, with touch pad controlled systems, allowing residents to control their home’s lighting, ventilation, parking etc. remotely. Comprising of 4 towers, each having 38 levels, the project also offers amenities such as a library, amphitheatre and an over 1 lakh sq. ft. podium garden.

Conclusion

If one is looking for good returns on their real estate investment in the otherwise extremely expensive MMR region, Panvel is one of the best options that one has to either invest or reside in. With its excellent connectivity, affordability, the variety of accommodation options and a bright future due to major infrastructural developments, it can be said that things are indeed looking up for a city, which till not so long back, was a small, sleepy highway town.




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Panvel – Where Mumbai Gives Way To Konkans

Last updated on November 15, 2015 by Ashish Mahajan

Panvel is the largest and most populated city in the Raigad district of Maharashtra. However given its connectivity through the Harbour line of suburban railways Panvel is spoken in same breath as Vashi, Kharghar and Belapur of Navi Mumbai. Since Panvel is the last stop on this railway connection to Mumbai it also is most affordable in the region. But things are changing fast and Panvel can no more be called just an affordable destination for housing. In fact we were amazed by the new townships which are taking shape here, both in concept as well as in pricing. The pricing and the product both defied our logic of understanding real estate i.e. distance and location!!! Though there are several good reasons, discussed ahead, as well that one might be taking his bet on such property here. One of them being such large townships are not seen elsewhere in Navi …

Panvel – Where Mumbai Gives Way To Konkans

Panvel is the largest and most populated city in the Raigad district of Maharashtra. However given its connectivity through the Harbour line of suburban railways Panvel is spoken in same breath as Vashi, Kharghar and Belapur of Navi Mumbai. Since Panvel is the last stop on this railway connection to Mumbai it also is most affordable in the region. But things are changing fast and Panvel can no more be called just an affordable destination for housing. In fact we were amazed by the new townships which are taking shape here, both in concept as well as in pricing. The pricing and the product both defied our logic of understanding real estate i.e. distance and location!!! Though there are several good reasons, discussed ahead, as well that one might be taking his bet on such property here. One of them being such large townships are not seen elsewhere in Navi Mumbai.

Approaching Panvel from Mumbai-Pune Expressway, turn from under the flyover. Display board of Marathon Nexzone
Approaching Panvel from Mumbai-Pune Expressway, turn from under the flyover. Display board of Marathon Nexzone

Many residents of Panvel work in MIDCs at Taloja, Rasayani, Patalganga & Pen. These MIDCs can be accessed by road from Panvel and are home to many manufacturing units. Panvel is very close to the JNPT port and it also falls close to the proposed new airport at Ulwe. We had covered the new airport and trans harbour link in our story on Ulwe real estate earlier. Thus the hope which supports Ulwe market also keeps Panvel on its toes. Panvel in general has dense construction of G+2/3/4 structures though several new projects are coming up in more organised and township formats. Being an old town Panvel has flourishing markets and business centers. Most residents are of Marathi origins and that also keeps them together or gives them reasons to stay here. One can access various business centers of Mumbai from Panvel through suburban locals.

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On The Panvel City Flyover

Palapse Phata is where the action is in real estate development today. This is a round about which gives way to Pune highway, Goa highway and the road leading to JNPT (NH 4B). Both Marathon Realty as well as Paradise Group have large townships under development. This region is also called as New Panvel. Well with the activity all around it, definitely looks like a new city which is coming up against the backdrop of Western Ghats.

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Marathon Nexzone from highway to JNPT

We visited Marathon Nexzone which is coming up under the rental housing scheme. In all it is a 25 acre site (approx.) of which about 10 acre is dedicated to the under construction Phase I. 12 towers each of 27 storeys are planned here (company has intentions to go upto 33 floors if permitted). Recently Marathon launched Triton towers (Gold Edge) and these overlook the Panvel hills. On offer are 2 & 2.5 BHK homes which cost over Rs. 80 lacs all inclusive. Current price being quoted is Rs. 5,800 per sq of salable area. The towers which were launched earlier such as – Zodiac, Zenith, Altis, Avior & Acrux are in fairly advanced stages. Approx. 4.5 acres is reserved by the company for development of a commercial complex adjacent to the highway and part of this project itself. Work on it is yet to start. Approx. 7 acres of Phase II is still under planning. As such the project is located right on the highway to JNPT and well connected to the Panvel station. More importantly it is coming up in a township format and will offer infrastructure and amenities which as such are absent in Panvel residential segment.

rental housing building nexzone
Rental Housing building nexzone
Construction work at Phase 1 towers – Marathon Nexzone

Right across the highway and a little closer to Palapse Phata is the Sai World City. One of Navi Mumbai’s prominent developer Paradise Group launched this 42 acre project in April of 2015. A look at its plans and you will be mesmerised and may be confused as well. Such grand luxury is being planned at this project which changed my perspective of Panvel real estate. What I thought was a location for affordable housing is transforming now into a upper middle class housing market. As the name suggests Sai World City is designed on a global theme, Vegas club, Marina sands are some of the names to amenities here. 13 towers of 42 floors each are planned here. Of these 4 were launched here and are witnessing healthy sales as per the firm. The ask is Rs 6,500 per sq ft of salable area. That sounds steep however when one looks at promise of the amenities may be it’s a good price. On offer are large sized 2, 3 & 4 BHK homes, 20 acres of open spaces, 3.5 lac sq ft of landscaping & 50,000 sq ft of club house. The sales staff was very helpful in sharing information and also took us through the AV.

Sales office at Sai World City
Marathon Nexzone from Sai World City

The famous Shree Dutt snacks is a landmark one can’t miss at Palapse Phata, which means one must make a mandatory stop here for a snack – misal, vada pav or sabudana khichdi along with delicious Kokum sherbet. We did the needful and started our journey towards Mumbai. This is when we also stopped over at Kalpataru Riverside. To our minds this large apartment complex is the first such delivered and occupied one in Panvel. The rates here are about Rs. 8,000 per sq ft and more of salable area, this isn’t cheap by any standards, as Kharghar also costs about that much. Well Kalpataru Group does hold distinction of offering quality amenities and facilities in their complexes so guess that’s where the premium stems from. Riverfront is a new phase of this township and it offers air conditioned apartments with balconies. Again given the site’s proximity to the river during the monsoons Kalpataru complex can offer majestic views. Though for large part of the year the river runs nearly dry.

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Grab a snack at Shree Dutt
Kalpataru Riverside
Complete phase of Kalpataru Riverside

The drive from Panvel to main land is now smooth after completion of work on the Sion-Panvel expressway. Though once you have been to Panvel & looked at these projects you might return home thoughtful – where all may I search for affordable housing. At the end of it I knew my search for cheaper homes in Mumbai hasn’t ended yet. Also I hope the Government plays its part of executing critical infrastructure projects – Navi Mumbai airport & Trans Harbour link.




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