Mumbai Property: Real Estate Hotspot Series: Average cost of 3BHK is Rs 1.2 crore in this Mumbai locality

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This week, ET Wealth’s property hotspot series takes a look at an affordable locality in the Mumbai Metropolitan Region (MMR). Panvel town in Navi Mumbai is close to the next airport, close to other parts of MMR and is self-sufficient. The cantons stimulate demand in Panvel.

The area is 35 KM from CSI, 0 KM from Panvel Railway Station and 0 KM from Mumbai-Pune highway. The price range of the apartments is between Rs 5,000 per square foot and Rs 9,300 per square foot. The average cost of 1 BHK, 2 BHK and 3 BHK is Rs 42 lakh, 76 lakh and 1.20 crore respectively.

Locality Snapshot: Panvel, Navi Mumbai

  • Panvel town is an affordable commercial and residential market in the Mumbai Metropolitan Region (MMR)
  • Proximity to upcoming airport, connectivity to other parts of MMR and self-sufficient townships are driving demand here
  • It is well connected to Mumbai, Navi Mumbai, Thane via Mumbai-Pune Expressway and NH-48
  • Main employment areas: CBD Belapur, Panvel Industrial Estate, Taloja MIDC and Jawaharlal Nehru Port Trust (JNPT)
  • Major social facilities: Lifeline Hospital, Panacea Hospital, St. Joseph’s High School, DAV Public School and Orion Mall.

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  • Schools 20+
  • Hospitals 20+
  • Restaurants 20+
  • Banks 20+
  • Groceries 20+
  • Gas Pumps 20+

Source: Magicbricks

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