New Panvel is predominantly a residential suburb in Navi Mumbai, comprising of affordable low, mid, and high rise residential housing complexes. It is a developing area driven by proximity to industrial areas and the upcoming Navi Mumbai International Airport; along with excellent connectivity to Mumbai, and Pune. Many completed, as well as under-construction high-rise residential projects in the area, are Balaji Symphony, Tricity Luxuria, National Harmony, Millennium Hilton, Neelsiddhi Regalia, Goodwill Pride, Vama Paradise, Balaji Residency, Neelsiddhi Orbit, and GeeCee Aspira 206.