Nerul is where a lot of Navi Mumbai house-hunting quietly ends. Buyers start out looking at four or five nodes, compare what their budget actually buys, and keep coming back to the same node — because Nerul is one of the few places in the city where you get a mature, tree-lined neighbourhood and a fifteen-minute drive to almost everywhere that matters.
The pull is easy to explain. Palm Beach Road runs along the western edge, giving you a clean road route to Vashi in one direction and Belapur in the other. Nerul railway station sits on both the Harbour Line and the Nerul–Uran corridor. The Atal Setu has cut the drive to South Mumbai to under half an hour off-peak, and the Navi Mumbai International Airport has redrawn the map for anyone who travels for work. Add DY Patil, Terna Hospital, Nexus Seawoods and Delhi Public School inside a short radius, and you have a node that works for a family on day one — not in five years when the infrastructure catches up.
Sector 24, in Nerul West, is the pocket most new buyers end up shortlisting. It sits just off Palm Beach Road, close to the station, and it is one of the few parts of Nerul still seeing fresh redevelopment stock rather than only resale inventory.
Most of Nerul’s inventory is resale — buildings from the 1990s and 2000s with generous carpet areas but ageing lifts, plumbing and parking. New-build stock is limited, which is exactly why it moves fast.
Spacious flats ranging from 687 to 986 sq ft, starting at around ₹2 crore, ideal for families seeking luxury in a well connected hub.
Rera No: P51700078391
Address: THE ROYAL BAY PLOT NO: 3,4,5 Sect-24 Nerul West » Navi Mumbai – 400706 » Maharashtra » India
Call Now: +91 9619967000
View The Royal Bay — floor plans, brochure & 360° walkthrough →
Looking wider than Nerul? See all 2 BHK flats in Navi Mumbai and 3 BHK flats in Navi Mumbai.
Two things worth knowing before you compare listings:
Asking rates and registered rates are not the same number. The gap in Nerul is roughly ₹3,000 per sq.ft. Portal listings show asking prices; registration data shows what deals actually closed at. Use the second to sanity-check the first.
Sector matters more than the node average. Palm Beach Road-facing and sea-view towers command a clear premium over interior sectors. A blended “Nerul average” can be several thousand rupees per square foot away from what your specific building is worth.
Work out your EMI before you shortlist → Read our wider market view: Navi Mumbai real estate market
Nerul sits in the premium band of Navi Mumbai — above Kharghar and Panvel, below Vashi and Seawoods.
| Metric | Figure |
|---|---|
| Average asking rate, Nerul | ~₹28,650 per sq.ft |
| Average registered transaction rate | ~₹25,270 per sq.ft |
| 1-year movement | +7.5% |
| 5-year movement | +48.8% |
| 2 BHK, typical range | ₹1.65 Cr – ₹2.5 Cr |
| 3 BHK, typical range | ₹2.5 Cr – ₹4 Cr+ |
Source: 99acres locality data and Maharashtra government registration records, mid-2026.
SANPADA
TPV Vishwakarma is a joint venture between TPV and the Vishwakarma Group, with completed and ongoing residential and commercial projects across Navi Mumbai, Panvel, Ambernath and Alibaug.
Yes, for buyers who value connectivity and a settled neighbourhood over maximum square footage. Nerul West sits between Palm Beach Road and Nerul railway station, which gives you both a fast road route to Vashi, Belapur and South Mumbai via the Atal Setu, and Harbour Line rail access. Schools, hospitals and retail are already in place rather than promised. The trade-off is price — Nerul West carries a premium over Kharghar, Ulwe and Panvel — and limited new-build supply, since most of the node is developed and fresh stock comes mainly from redevelopment. Sector 24 is one of the pockets where new inventory is still coming up.
3 BHK flats in Nerul generally run from around ₹2.5 Cr to ₹4 Cr and above, depending on sector, carpet area, building age and whether the tower faces Palm Beach Road. That works out to roughly ₹25,000–₹28,650 per sq.ft on current asking rates, with registered transactions averaging closer to ₹25,270 per sq.ft. At The Royal Bay in Sector 24, with RERA carpet areas from 687 to 986 sq.ft. Prices are indicative and revised periodically — request the current price list for exact figures.
Sectors closer to Palm Beach Road and the station — including Sector 24 in Nerul West — tend to suit families best, because they combine short school runs with quick access to Nexus Seawoods, DY Patil and Terna Hospital. Interior sectors are quieter and priced lower.
Yes. With the Navi Mumbai International Airport now operational, Mumbai-Pune Expressway access, and Harbour Line railway connectivity, Panvel offers strong long-term appreciation potential. Buyers entering now are ahead of the full airport premium being priced in.
TPV Vishwakarma offers 1 BHK, 2 BHK and 3 BHK flats across multiple projects in Panvel and New Panvel. See the project cards above for configurations, RERA numbers and contact details.
Welcome to The Royal Bay, an exquisite residential haven that sets the bar for contemporary living. Located at the prime address of Plot No: 3, 4, 5, Sector-24, Nerul West, Palm Beach Road, 400706, this stunning project unfolds a lifestyle like no other. The Royal Bay comprises a thoughtfully crafted range of 2-3 BHK residences with carpet areas ranging from 687 – 986 sq.ft, designed to offer a seamless blend of comfort, luxury, and modernity.
Here at The Royal Bay, your dreams meet reality with every step. This iconic development offers a serene, yet ultra-connected lifestyle in one of the most sought-after locales, ensuring that you have both peace and convenience at your doorstep.
The RERA registration number of this project is P51700078391.
