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Panvel, known as the gateway to the Konkan region, is situated in the Raigad district within Navi Mumbai, Maharashtra. The locality falls near Forest Colony, Sector 17 New Panvel East and Takka Colony. The locale has the oldest Municipal Council in Maharashtra, the Panvel Municipal Council (PMC). Presently, CIDCO is administering the city's recent developments.
Located on the banks of Panvel Creek, it has a total population of approximately 570,219. The locale celebrates numerous festivals enthusiastically, with the Dahi Handi and Ganeshotsav being the most famous and grandly observed events.
Panvel boasts excellent transportation connections through major highways such as NH 17, Mumbai - Bangalore National Highway (NH-4), and the Mumbai-Pune Expressway intersecting in Panvel.
Panvel hosts major attractions such as the Ballaleshwar Pali, Bet El Synagogue, Gadeshwar Dham, Karnala Bird Sanctuary, Karnala Fort, Matheran, Shirdhon, and Varad Vinayak temples.
Rental rates in Panvel range from Rs.8400 to Rs.44000, with a net rental yield of 6.1%. Projects like Paradise Sai World City, Hiranandani Fortune City, and Wadhwa Wise City earn Panvel's highest annual rental yield.
In addition to rental income, the average price for apartments in Panvel is ₹ 11,700/- per square foot. The Year on Year (YoY) price change for apartments is approximately 6.6%. The most appreciated projects in this locality are Dudhe Vitevari at 33.7% YOY, Wadhwa Wise City at 21.9% YoY, and Godrej City at 14.9% YoY.
Panvel offers ample 1 BHK, 2 BHK, 1 RK, 3 BHK and 4 BHK residential apartments in the mid-income budget segment. Hiranandani, Akshar Rivergate, Arihant Aspire, and Siddhivinayak Gaurav are the leading developers active in the locale.
Here is statistical data to understand the price trend of real estate in Panvel:
Year (April-June) | Price/Sq ft |
---|---|
2019 | Rs. 10,250 |
2020 | Rs. 10,400 |
2021 | Rs. 10,600 |
2022 | Rs. 10,750 |
2023 | Rs. 11,500 |
Disclaimer: All the prices mentioned above are based on the data collected from different sources and do not reflect the actual price. The above-listed price may vary per the developer, location, and amenities.
Panvel draws its allure from its historical role as the ancient trading hub of Paneli or Panelim. Serving as a vital entry point to the Konkan region, it has fostered trade and commerce for centuries. Panvel's growth is significantly influenced by its strategic positioning at the intersection of key highways. The connection to Goa and other coastal regions through NH 17 and the Mumbai-Pune Expressway linking to major economic centres ensures Panvel benefits from outstanding connectivity.
Panvel has undergone notable infrastructure enhancements headed by CIDCO. Some of the esteemed educational and healthcare institutions, including shopping malls and entertainment venues, are listed below:
Education Centres | Healthcare Centres | Entertainment Venues |
---|---|---|
St. Joseph's High School | Life Line Hospital | Shivganga Waterpark and Resort |
Kendriya Vidyalaya ONGC Panvel | Phoenix Multispeciality Hospital | Ekvira aai mandir |
Mahatma International School | Ranade Surgical Nursing Home | K Mall |
New Horizon Public School & Penguin Kids | Gandhi Hospitals | K. K. Cinema |
Vedic Tree International School | Hande Hospital | Adya Krantiveer Vasudev Balwant Phadke Auditorium |
The industrial growth in Panvel attracts several large companies and industries.
The PIN code of Panvel is 410206. It falls in the Navi Mumbai region of Maharashtra.
Panvel, the gateway to the Konkan coast, is the most populous locality in Raigad District, Maharashtra. The area is known for its historical forts in Raigad and Khopoli and the popular trekking spot, Karnala Fort.
The city is also known for its diverse culinary scene, with popular eateries like Woodside Inn and Hotel Peace Park offering delightful experiences.
Panvel is an excellent place to live, especially with various ready-to-move-in residential projects, including Hiranandani Fortune City, Arihant Aspire and Paradise Sai World City. These projects ensure convenience with proximity to essential amenities like schools, markets, and hospitals such as Phoenix, Lifeline, and Gandhi hospitals. The city's strategic location, connected by major highways and the Mumbai-Pune Expressway, enhances accessibility. Efficient transportation networks through ST and NMMT bus terminals make commuting seamless.
For 1 BHK, the rent in Panvel is approximately ₹10 K - ₹20 K, for 2 BHK, it's ₹20 K - ₹32 K, and for 3 BHK, it's ₹32 K - ₹45 K.
Some of the top current development projects in Panvel are mentioned in the table below:
Panvel is the Future Residential Hotspot, with numerous upcoming projects like Kricon The Orbis, Paradise Sai World City Phase 1 and Hiranandani Fortune City. Developers like Lodha, Hiranandani, or Paradise Group are the leading developers in the locale. One of the most exciting prospects in Panvel is the proposed Navi Mumbai International Airport. This mega-project is expected to transform the region's infrastructure.
17 1 BHK flats, including furnished and unfurnished, are available in Panvel.
1 BHK in Panvel, costs in the range of ₹20 Lac - ₹55 Lac.
The average size of a 1 BHK in Panvel is 350 sq.ft. - 600 sq.ft.
The rent of 1 BHK in Panvel lies in the range of ₹10 K - ₹20 K.
18 2 BHK flats are available in Panvel.
2 BHK in Panvel, costs in the range of ₹55 Lac - ₹1.3 Cr.
The average size of a 2 BHK in Panvel is 600 sq.ft. - 900 sq.ft.
The rent of 2 BHK in Panvel lies in the range of ₹20 K - ₹32 K.
6 3 BHK flats are available in Panvel.
3 BHK flats in Panvel cost in the range of ₹1.3 Cr - ₹2 Cr.
The average size of a 3 BHK in Panvel is 900 sq.ft. - 1200 sq.ft.
The rent of 3 BHK in Panvel lies in the range of ₹32 K - ₹45 K.
2 4 BHK flats are available in Panvel.
4 BHK flats in Panvel, cost in the range of ₹2 Cr - ₹3.1 Cr.
The average size of a 4 BHK in Panvel is 1200 sq.ft. - 1600 sq.ft.
The rent of 4 BHK in Panvel lies in the range of ₹45 K - ₹65 K.
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