Panvel is the gateway to the MMR - Mumbai Metropolitan Region. The main hinterland of Maharashtra lies towards the east and south of Panvel. Panvel provides quick access to the hinterland and it is the opening towards Pune.
Until now, Panvel has been primarily a middle class area and other Navi Mumbai nodes are more affluent. Proximity to Pune is its biggest asset. With the new International airport coming up in Navi Mumbai, Panvel’s future seems very promising. Real estate prices in Panvel have gone up significantly. Another plus point is its proximity to JNPT, the freight and industrial corridor. The property rates in Panvel has doubled or in some cases tripled in few cases over the last 5-7 years.
Panvel has a lot more scope because it has JNPT, one of the largest employment providers; the largest IT corridor, MHAPE. On the Pune side there is development from Hinjewadi towards Lonavala. Panvel-Uran railway line is already laid up. You have the Mumbai-Pune Expressway and old Mumbai-Pune Highway. Water is not going to be a problem thanks to the Morbe Dam. Reputed developers like Arihanta developers and Marathon group have marked their presence felt in that region with their projects Arihanta Akankasha and Marathon Nexzone. Indiabulls has a huge project called indiabulls green in the same location.
When it comes to potential, the Panvel-Raigad region can extend the IT corridor right up to Khopoli. Panvel may well become the hub of Navi Mumbai in future. The proposed 22 km six lane sea link between Sewri and Nhava Sheva is likely to change the skylines of Panvel as the distance between Mumbai and Panvel would also come down drastically. Navi Mumbai real estate is going to hit some new high notes with the coming of the new International airport. The highest focus will be on Panvel and its immediately adjoining areas, since Panvel is Navi Mumbai’s last node and also the ingress for the Mumbai-Pune Expressway, speedier focus on the development of physical and social infrastructure in the region will ensure that this region maintains its attractiveness as a destination on the Mumbai real estate map.