By Mr. Samyag M. Shah, Director of Marathon Nextgen Realty Ltd, CREDAI – MCHI Youth wing – Convenor
If you think Mumbai’s growth story has plateaued, it’s time to look east. For decades, the city expanded northward – from Colaba to Thane and Borivali. But it also sprawled toward Navi Mumbai. Now, that growth is pivoting again toward Panvel, a region rapidly transforming from overlooked fringe to urban core.
Panvel is shaping up to be the entry point to Mumbai 3.0, a visionary urban centre anchored by the upcoming Navi Mumbai International Airport (NMIA).
Building Cities Around Airports: A Global Blueprint
Across the globe, major airports have triggered large-scale urban growth. Incheon in Seoul and Dubai South are two such examples. These hubs are designed to attract business, residential, and infrastructure investment by centring development around air connectivity. Navi Mumbai is following a similar model with NMIA. The airport is set to serve millions of passengers annually and attract commercial, hospitality, and residential development.
Surrounding the airport is the Karnala–Sai–Chirner (KSC) New Town — a 323 sq. km. zone planned for smart infrastructure, education and healthcare clusters, data centre hubs, and a mix of commercial and residential developments. Panvel is the key access point to this planned ecosystem. Its location places it at the heart of one of the country’s most ambitious urban expansions.
The Atal Setu Effect
The Mumbai Trans Harbour Link (MTHL), also known as Atal Setu, inaugurated in 2025, has drastically reduced travel time between South Mumbai and Panvel. A commute that once felt distant now takes about 45 minutes. This makes Panvel closer to the city than some of its eastern and western suburbs. For comparison, Chembur and Andheri also fall within a similar travel radius from South Mumbai — yet property prices in Panvel remain significantly lower, sometimes as low as one-third the rates in these suburbs. As seen in other global cities, landmark infrastructure has historically spurred massive growth. The Brooklyn Bridge transformed Brooklyn’s status in New York. The Bandra-Worli Sea Link had a similar effect in Mumbai. Atal Setu could play a comparable role for Panvel.
Infrastructure is Changing the Map
Panvel’s appeal isn’t limited to one project. It is well-connected to the Mumbai–Pune Expressway, Sion–Panvel Expressway, and several national highways. It is also a railway junction with links to the suburban Harbour Line, Central Railway mainline, and the Konkan Railway. Metro connectivity is on the horizon, with planned extensions to the Navi Mumbai metro and the Mumbai-Navi Mumbai airport line set to further integrate Panvel into the metropolitan network. Few locations in the region offer such a convergence of air, rail, road, and metro infrastructure.
A City Designed, Not Improvised
Unlike Mumbai’s organic and often chaotic sprawl, growth in Panvel is being guided by the Navi Mumbai Airport Influence Notified Area (NAINA), which provides a structured framework through zoning regulations and long-term planning. Residential areas, commercial districts, tech parks, and open spaces are being thoughtfully integrated into a master plan. Major developers, have already delivered, launched, and planned large-scale projects aligned with this vision.
Panvel is evolving into a balanced urban zone where affordable housing exists alongside IT parks, SEZs, and logistics hubs. Mumbai 3.0 is expected to include a renewable-energy-powered data centre hub, an education city with leading universities, a healthcare innovation district, and global capability centres for multinational corporations. Commercial and financial hubs are planned to complement existing zones like Bandra–Kurla Complex. With over ₹56,000 crore earmarked for infrastructure, the scale and ambition of this urban transformation are clear.
A Market with Headroom
Panvel’s real estate offers a compelling mix of excellent connectivity, a robust development pipeline, and currently undervalued property prices. As infrastructure matures, prices are expected to rise steadily. For homebuyers and investors alike, this is a timely opportunity with strong long-term potential.
There is industry-wide anticipation of a three- to seven-fold increase in value over the next few years, driven by infrastructure-led growth and expanding employment corridors. More than a regional expansion, Mumbai 3.0 represents a reimagining of Maharashtra’s urban identity. As it decentralises opportunity, promotes sustainability, and distributes growth more equitably, Panvel will play a pivotal role. Its rise from a peripheral town to a strategic hub proves that cities are shaped as much by foresight and planning as by geography. Panvel’s transformation has begun – and it’s accelerating fast.
