The real estate market in Panvel is witnessing a significant boom, with prices increasing by 18% in the last quarter. The demand for affordable housing is driving the growth, with many homebuyers looking for options in the ₹20-40 lakh range.
Developers such as Adani Realty and Marathon Group are launching new projects in the region, with a focus on affordable housing. The average price per square foot in Panvel is currently around ₹3,000-5,000, with a expected increase of 12-18% in the next quarter.
The growth in Panvel is also driven by the upcoming infrastructure projects, such as the Navi Mumbai International Airport and the Mumbai Trans-Harbour Link. The real estate market in Panvel is expected to continue growing, with many experts predicting a 20-25% increase in prices in the next year.
The city is also expected to become a major hub for the IT and ITES sector, driven by the availability of affordable housing and infrastructure facilities.
