After Delhi-NCR, buying property in Navi Mumbai is about to become even more expensive for the common person. With the preparation for the inauguration and operation of the Navi Mumbai International Airport (NMIA), a stormy surge has hit the real estate market in the surrounding areas. Analysts estimate that prices could see an increase of up to ₹15,000 per square foot.

The Navi Mumbai International Airport (NMIA) is rapidly increasing real estate prices in nearby areas such as Panvel, Ulwe, and Kharghar. The main reasons for this surge are improved connectivity, job creation, and large-scale commercial development. Due to investor interest and major development projects, price increases have already begun.

Airport Inauguration on October 8

The airport will be formally inaugurated on October 8, and approximately two months later, in December, airline flights will begin, which will further accelerate the development of this region.

According to data, a significant difference in land and property prices is expected. Currently, land prices in the Navi Mumbai Airport Influence Notified Area (NAINA) range from ₹5 lakh to ₹25 lakh per guntha (101.17 square meters), which means ₹5,000 to ₹25,000 per square meter.

Estimated Surge in Property Prices

Across Navi Mumbai, especially in Panvel, property prices are expected to increase by 5% to 15%. Currently, prices in Panvel and New Panvel range from ₹6,500 to ₹10,500 per square foot depending on the project and location. However, after the airport’s inauguration, these prices could rise to ₹12,500 to ₹15,000 per square foot.

This surge is not only a major opportunity for investors but also a concern for those looking for affordable homes in this area. Just as airports and expressways in Delhi-NCR drove prices to new heights, NMIA is also leading Navi Mumbai into a new and expensive era of real estate.

Navi Mumbai International Airport

Navi Mumbai International Airport is a new greenfield airport currently under construction in the Mumbai Metropolitan Region of India. It was conceived to decongest the existing Chhatrapati Shivaji Maharaj International Airport and has faced significant delays, primarily due to land acquisition and environmental challenges. Once operational, it is expected to become a major aviation hub for the region.

Delhi-NCR

Delhi-NCR (National Capital Region) is a vast metropolitan area encompassing New Delhi, the capital of India, and its surrounding satellite cities in neighboring states. The region’s history is deeply layered, with Old Delhi serving as the capital of earlier Mughal empires and New Delhi being formally inaugurated as the British Indian capital in 1931. Today, it is a major economic and cultural hub, blending ancient historical monuments with modern urban development.

Navi Mumbai

Navi Mumbai, or “New Mumbai,” is a planned city in Maharashtra, India, established in 1972 to ease population and infrastructure pressures on the original Mumbai. It was systematically developed across a vast area of former marshland and villages to serve as a modern urban center and a major residential and commercial hub. Today, it stands as one of the largest planned townships in the world.

Panvel

Panvel is a historic city in Maharashtra, India, located near Mumbai. It was an important trading port and administrative center during the 18th century under the Maratha Empire and later the British East India Company. Today, it is a rapidly growing part of the Mumbai Metropolitan Region, known for its proximity to the Navi Mumbai International Airport.

Ulwe

Ulwe is a developing residential and commercial node located in Navi Mumbai, India, part of the larger Mumbai Metropolitan Region. Historically a region of marshy lands and small villages, its modern development began in the 1990s with the planning of Navi Mumbai. It has gained significant prominence in recent years due to its proximity to the new Navi Mumbai International Airport, which is currently under construction.

Kharghar

Kharghar is a modern planned residential node in Navi Mumbai, India, developed as part of the CIDCO (City and Industrial Development Corporation) project. Its history is relatively recent, having been primarily developed in the late 20th century to decongest Mumbai. The area is known for its wide roads, educational institutions, and the Central Park, which hosts a large monsoon festival.

Navi Mumbai Airport Influence Notified Area

The Navi Mumbai Airport Influence Notified Area (NAINA) is a planned urban development region in Maharashtra, India, created to manage the growth and infrastructure around the upcoming Navi Mumbai International Airport. Established by CIDCO, its history is directly tied to the airport project, aiming to prevent haphazard construction and create a sustainable, well-planned satellite city through regulated development.

New Panvel

New Panvel is a modern residential and commercial suburb located in Navi Mumbai, India, developed as part of the larger planned city initiative to decongest Mumbai. It was established in the 1970s and has grown significantly due to its proximity to Mumbai and improving infrastructure, including the nearby Jawaharlal Nehru Port. Today, it is known for its organized layout, educational institutions, and connectivity via the Mumbai-Pune Expressway.