Mumbai 3.0: G Square Housing enters Maharashtra with 125-acre Panvel project amid realty boom
G Square plans to launch 13 projects across Maharashtra, including locations in the Mumbai 3.0 region, Pune and the Pune Metropolitan Region Development Authority (PMRDA) region.
- Oct 27, 2026,
- Updated Oct 27, 2026 6:15 PM IST
G Square Group is entering Maharashtra with a proposed 125-acre plotted housing development in Narpoli, Panvel, as the South India-based developer looks to expand into the Mumbai Metropolitan Region (MMR).
The project will comprise 364 residential plots, with a minimum plot size of 1,000 sq. ft. The company has announced introductory prices starting at ₹5,990 per sq. ft. for residential plots and ₹9,990 per sq. ft. for its plot-plus-villa offering, subject to applicable terms and conditions.
The entry comes as Mumbai's real estate market continues to record substantial activity at the premium end. The city registered 3,145 residential property transactions involving homes priced at ₹5 crore and above between April and September 2026, with a combined value of ₹32,623 crore, according to a report by Lighthouse Luxury, powered by property registration intelligence platform Zapkey.
However, G Square's Panvel project targets a different segment of the market, offering plots for buyers who want to build independent homes rather than purchase ready-built apartments.
The company said its large-parcel land acquisition model allows it to price the development 20-30% below prevailing market prices. The claim could not be independently verified.
13 projects planned across Maharashtra
G Square plans to launch 13 projects across Maharashtra, including locations in the Mumbai 3.0 region, Pune and the Pune Metropolitan Region Development Authority (PMRDA) region. The proposed locations include Rasayani, Palaspe, Karjat, Dolivali, Palasdhari, Anjap, Mosare, Kamshet, Urse, Pirangut, Hinjewadi and Lonavala, in addition to Narpoli.
G Square Founder and Managing Director Bala Ramajayam said the company was looking to extend its plotted development model to Maharashtra. The company has also indicated a strategic tie-up with JSW ONE HOMES, although details of the arrangement have not been disclosed.
Mumbai real estate boom
Mumbai’s luxury residential market continued to see strong activity in the first half of FY27, with 3,145 transactions involving homes priced at ₹5 crore and above, worth a combined ₹32,623 crore, between April and September 2026, according to Lighthouse Luxury, powered by Zapkey. Transactions rose 10.5% quarter-on-quarter to 1,651 in the second quarter, while their total value increased 17.1% to ₹17,600 crore.
The average transaction value climbed 6% to ₹10.7 crore, indicating continued demand for premium homes. The ultra-luxury segment also gained momentum, with 20 transactions involving properties priced at ₹50 crore and above in the second quarter, compared with nine in the first. Worli remained the largest luxury housing market by transaction value, while localities such as Andheri West, Versova and Tardeo also recorded growth.
G Square Group is entering Maharashtra with a proposed 125-acre plotted housing development in Narpoli, Panvel, as the South India-based developer looks to expand into the Mumbai Metropolitan Region (MMR).
The project will comprise 364 residential plots, with a minimum plot size of 1,000 sq. ft. The company has announced introductory prices starting at ₹5,990 per sq. ft. for residential plots and ₹9,990 per sq. ft. for its plot-plus-villa offering, subject to applicable terms and conditions.
The entry comes as Mumbai's real estate market continues to record substantial activity at the premium end. The city registered 3,145 residential property transactions involving homes priced at ₹5 crore and above between April and September 2026, with a combined value of ₹32,623 crore, according to a report by Lighthouse Luxury, powered by property registration intelligence platform Zapkey.
However, G Square's Panvel project targets a different segment of the market, offering plots for buyers who want to build independent homes rather than purchase ready-built apartments.
The company said its large-parcel land acquisition model allows it to price the development 20-30% below prevailing market prices. The claim could not be independently verified.
13 projects planned across Maharashtra
G Square plans to launch 13 projects across Maharashtra, including locations in the Mumbai 3.0 region, Pune and the Pune Metropolitan Region Development Authority (PMRDA) region. The proposed locations include Rasayani, Palaspe, Karjat, Dolivali, Palasdhari, Anjap, Mosare, Kamshet, Urse, Pirangut, Hinjewadi and Lonavala, in addition to Narpoli.
G Square Founder and Managing Director Bala Ramajayam said the company was looking to extend its plotted development model to Maharashtra. The company has also indicated a strategic tie-up with JSW ONE HOMES, although details of the arrangement have not been disclosed.
Mumbai real estate boom
Mumbai’s luxury residential market continued to see strong activity in the first half of FY27, with 3,145 transactions involving homes priced at ₹5 crore and above, worth a combined ₹32,623 crore, between April and September 2026, according to Lighthouse Luxury, powered by Zapkey. Transactions rose 10.5% quarter-on-quarter to 1,651 in the second quarter, while their total value increased 17.1% to ₹17,600 crore.
The average transaction value climbed 6% to ₹10.7 crore, indicating continued demand for premium homes. The ultra-luxury segment also gained momentum, with 20 transactions involving properties priced at ₹50 crore and above in the second quarter, compared with nine in the first. Worli remained the largest luxury housing market by transaction value, while localities such as Andheri West, Versova and Tardeo also recorded growth.