Huge land parcel availability, rapid infrastructural development, and business expansion in Panvel have led to the development of a number of housing residences that are both affordable and in the middle of the market and also are well suited for the migrant workforce. Check out the article to get an insight into the property rates in Panvel and nearby localities.
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Property Rates in Panvel
The real estate market in Panvel has been booming for the last 4-5 years. Infrastructural development, excellent connectivity and affordable housing are the reasons behind it.
The area’s residential growth has been sparked by the availability of land parcels at attractive prices and the rise in demand for affordable housing.
Also, the demand for residential apartments has increased after the announcement of Navi Mumbai International Airport. At least 100,000 people will be employed here once the airport is operating.
In Mumbai, Panvel is still a well-liked micro market for homes priced between Rs 40 lakh and Rs 1 crore.
Property rates in the Panvel real estate market are going to touch the sky in the coming years with incredible social and infrastructural development and availability in the city.
Real Estate Overview of Panvel 2024
Panvel has emerged as one of the best affordable options to other regions of Mumbai, where real estate prices have surged over the past several years, thanks to its strong physical infrastructure.
The house values in Panvel are predicted to increase by 10-15% over the next 5-7 years, according to analysts, taking into account the planned infrastructural developments.
Dharmesh Thakkar Homebazaar.com’s AVP said, “As we look ahead to the upcoming year, the horizon for real estate in our region becomes even more promising. The anticipated growth in property rates is intricately linked to transformative developments such as the Navi Mumbai International Airport and other high-impact infrastructure projects. These catalysts not only elevate the area’s connectivity and accessibility but also signify a burgeoning ecosystem for residential and commercial expansion. “
Panvel is well connected with the area nearby and Mumbai metropolitan areas, Thane via railway connectivity, Panvel-Sion Highway and NH66.
Mumbai trans harbour line, the Upcoming Navi Mumbai airport and the metro will be the key factors for people to move to this region.
Demand in the city is also being driven by better connectivity to Uran and JNPT (Jawaharlal Nehru Port Trust).
With this, the property rates in Panvel will increase as a connectivity booster factor and infrastructural growth.
Panvel Property Rates Per Square Feet
Panvel is in high demand in the real estate sector. The average property rates in Panvel per sq. ft for nearby localities are as follows.
| Locality | Panvel Property Rates Per Square Feet |
| New Panvel | Rs. 7000 |
| Panvel | Rs. 7200 |
| Khopoli | Rs. 3720 |
| Akurli | Rs. 6700 |
| Rasayni | Rs. 4750 |
| Khanda Colony | Rs. 8350 |
| Palaspa | Rs. 5400 |
| Vichumbe | Rs. 6200 |
1 BHK Flat Rates In Panvel
Panvel has the potential to take the place of Dadar or the CSMT as the next major terminus as the development and connectivity of this region. The 1 BHK flat rate in Panvel goes around Rs. 20- 30L.
Here is a list of localities with a 1 BHK flat rate in Panvel.
| Locality | 1 BHK Flat Rates In Panvel (Rs) |
| New Panvel | 21L – 35L |
| Panvel | 21.60L – 36L |
| Khopoli | 11.16L – 18.60L |
| Akurli | 20L – 33.50L |
| Rasayni | 14L – 23.75L |
| Khanda Colony | 25L – 41.75L |
| Palaspa | 16L – 27L |
| Vichumbe | 18.60L – 31L |
2 BHK Flat Rates In Panvel
2 BHK apartments are more in demand in Panvel for the end users as well as working professional bachelors are also choosing to live in this location.
The avg 2 BHK Flat rate in Panvel goes around Rs. 40L-60L.
Here is a list of localities with 2 BHK flat rates in Panvel.
| Locality | 2 BHK Flat Rates in Panvel (Rs) |
| New Panvel | 38.50L – 63L |
| Panvel | 39.60L – 64.80L |
| Khopoli | 20.46L – 33L |
| Akurli | 36.85L – 60.30L |
| Rasayni | 26L – 42.75L |
| Khanda Colony | 45.92L – 75.15L |
| Palaspa | 29.70L – 48.60L |
| Vichumbe | 34.10L – 55.80L |
3 BHK Flat Rates In Panvel
Many top developers are coming to Panvel with luxurious projects providing top-notch amenities and spacious apartments.
Here is a list of 3 BHK flat rates in Panvel localities.
| Locality | 3 BHK Flat Rates In Panvel (Rs) |
| New Panvel | 66.50 – 1.05Cr |
| Panvel | 68.40 – 1.08Cr |
| Khopoli | 35.3L – 55.80L |
| Akurli | 63.65L – 1Cr |
| Rasayni | 45L – 71L |
| Khanda Colony | 79.3L – 1.25Cr |
| Palaspa | 51L – 81L |
| Vichumbe | 5890L – 93L |
Also, Check out the Latest Property Rates In Navi Mumbai 2024
FAQs
| Is it good to invest in property in Panvel?
Investing in land or property in Panvel is a profitable investment as the development in the city is growing upwards and demand for the location is increasing day by day. |
| Which is the best place to invest in Navi Mumbai?
Panvel is one of the best places to invest in Navi Mumbai. |
| Is Panvel a posh area?
Yes, Panvel is a posh area as it has a high cost of living, it is connected to Mumbai, Nashik and Pune via train and expressways. Also, the upcoming International airport is a key element for Panvel’s economy. |
| How much does a flat cost in Panvel?
The avg cost of 2 BHK flats in Panvel is around Rs. 50-60L |
