The Panvel Municipal Council was established in 1910, paving the way for effective governance in the Raigad district. The concept of ‘New Panvel’ was initiated in the 1970s by City Industrial Development Corporation (CIDCO) to meet the housing requirements of workers in the industrial areas of Patalganga, Rasayani, and Taloja, thus laying the roots of residential real estate in the city. Later, old Panvel and New Panvel were brought under the Panvel Municipal Corporation established in 2016. While buying a flat in Navi Mumbai, Panvel became a suitable option for housing, as several leading developers came up with residential projects, and numerous upcoming constructions are planned in the future.
Currently, apartment sales in Panvel are booming due to the extensive development and infrastructure projects. The recently inaugurated Navi Mumbai International Airport (NMIA) and Mumbai Trans Harbour Link (MTHL) have been transforming the areas around Panvel. NMIA has been a fundamental support for the existing airport by reducing the passenger and air traffic, while MTHL has augmented the waterways and cut down the travel time between Mumbai and Navi Mumbai.
The Sion-Panvel Highway and the Mumbai-Pune Expressway have given an infrastructure boost to Mumbai and Pune. Panvel acts as an entry corridor to Mumbai for places like Kolhapur, Kokan, Goa, and Karnataka. The upcoming Panvel Karjat Rail Corridor under the Mumbai Urban Transport Project (MUTP) will enhance the connectivity between the two regions and assist in traffic decongestion. Panvel’s rail accessibility to Chhatrapati Shivaji Maharaj Terminus (CST), Thane, and the Western suburbs has played a pivotal role in the growth of the suburb.
Another infrastructure marvel, Navi Mumbai Airport Influence Notified Area (NAINA) near the NMIA, is a planned development by CIDCO. This project will consist of small cities with hubs for agro-farming, education, trade, information technology, and medical facilities. Aerocity Navi Mumbai is proposed near NIMA and will feature commercial, hospitality, and residential spaces serving as an urban growth center. These massive developments have been influencing the ‘Third Mumbai’ initiative in Raigad, Thane, and Navi Mumbai, henceforth accelerating the real estate market in and around Panvel.
Areas like Khanda Colony, Old Panvel, New Panvel, Kamothe, Karanjade, Kharghar, Dronagiri, Ulwe, Uran, Vichumbe, and Kalamboli have been witnessing competitive flat prices in Navi Mumbai. Buying a property in Panvel provides access to a variety of flats in Panvel with myriad configurations of 1,2, and 3 BHK. The best part of seeking apartments in Panvel is the varied areas and their comparative property rates. If a 2BHK in Panvel is on the higher side, buyers can check the peripheral areas, which may offer lesser property rates in a similar configuration. Buyers can check and compare projects from numerous developers before finalizing on the most reliable and quality construction company.
Houses for sale in Panvel offer an appealing countryside charm, greenery, robust infrastructure projects, along with modern amenities like a garden, kids' play area, clubhouse, and gymnasium, among others. Panvel boasts of excellent educational institutions, hospitality, retail, medical facilities, and access to industrial areas, thus fulfilling the demand of the optimistic real estate market and futuristic outlook.
