Prashant Thakur, Head – Research, ANAROCK Property Consultants
Panvel, previously seen as a destination on the outskirts of Navi Mumbai and far off from Mumbai, has now evolved into an integral part of Mumbai Metropolitan Region (MMR) and is, in fact, a buzzing real estate markets.
Infrastructure upgrades to take Panvel to the next level
Numerous infrastructure initiatives are planned to upgrade the connectivity and profile of this city. Among them:
Major Real Estate USPs
Massive land availability, generous green cover, excellent connectivity and affordable property prices have made Panvel one of the most interesting real estate destinations in MMR.
– Ready-to-move: 15%
– < 1 year: 21%
– 1 – 2 years: 17%
– 2 – 3 years: 21%
– > 3 years: 26%
A very favourable real estate market, Panvel has been witnessing project launches by reputed developers during the past few years. Many major real estate companies have planned large projects at Panvel with an aim to develop self-sustainable townships – cities within the city.
Notable Projects in Panvel
– Launched inventory: 2,854 units
– Ticket price range (BSP): INR 43 lakh – INR 85 lakh
– Completion timeline: January 2025
– Key USPs: Varied product options, a wide range of possession options, host of amenities
– Launched inventory: 2,628 units
– Ticket price range (BSP): INR 25 lakh – INR 56 lakh
– Completion timeline: December 2025
– Key USPs: Good developer track record, mega township, recent launch
– Launched inventory: 2,298 units
– Ticket price range (BSP): INR 55 lakh – INR 2 Crore
– Completion timeline: Apr 2022
– Key USPs: Reputed developer, significant construction progress
– Launched inventory: 728 units
– Ticket price range (BSP): INR 85 lakh – INR 1.9 Crore
– Completion timeline: January 2021
– Key USPs: world class mega township, superlative community lifestyle inspired by famous world cities
– Launched inventory: 560 units
– Ticket price range (BSP): INR 32 lakh – INR 83 lakh
– Completion timeline: December 2021
– Key USPs: 100+ acre township, Frank Henegan-designed golf course, commercial and business centre within the township
– Launched inventory: 143 units
– Ticket price range (BSP): INR 45 Lakh – INR 80 Lakh
– Completion timeline: Ready to move
– Launched inventory: 80 units
– Ticket price range (BSP): INR 75 Lakh – INR 1.3 Crore
– Completion timeline: December 2023
(Note: Launched units as per RERA website)
With significant activity in terms of real estate and infrastructural developments, Panvel’s real estate market is looking at an exciting future. It is an opportune time buy homes here considering that the market has turned very buyer-friendly post structural changes and policy reforms such as demonetization, RERA and GST.
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