The correct answer is: Margao.
Margao is a city in South Goa district in the Indian state of Goa. It is the second largest city in Goa after Panaji, the state capital. Margao is located on the banks of the Mandovi River, about 30 kilometers from Panaji. The city is a major commercial and industrial center in Goa. It is also a popular tourist destination, known for its beaches, churches, and temples.
The nearest railway station to Panaji is Margao railway station. It is located about 30 kilometers from Panaji. The station is well-connected to other parts of Goa and the country by rail.
The other options are incorrect because they are not located near Panaji. Priol is a village in North Goa district, about 60 kilometers from Panaji. Parcem is a village in South Goa district, about 40 kilometers from Panaji. Murda is a village in South Goa district, about 50 kilometers from Panaji.