Expert's perspective on how the Navi Mumbai International Airport will enhance real estate activity in the surrounding areas.
Mr Vimal Nadar - National Director & Head of Research, Colliers India
The opening of the Navi Mumbai International Airport signifies more than just a milestone in air travel. It marks a pivotal transformation in the region's real estate landscape, particularly within the residential and commercial sectors. The announcement of this upcoming airport had already triggered a substantial rise in property values across key areas in the vicinity including Uran-Ulwe, Kharghar, Dronagiri, Taloja, and Panvel. This greenfield airport will further accelerate the growth, driving sustained demand and significant price appreciation, presenting lucrative long-term investment opportunities. Further, Navi Mumbai's strategic positioning as a sub-dollar office market, coupled with enhanced connectivity and global access offered by the airport, are expected to drive heightened office leasing activity in the area over the next few years. The proposed Aerocity in the vicinity, designed to seamlessly integrate top-notch commercial, residential, and recreational spaces, will foster a new urban ecosystem that blends work and lifestyle. Additionally, with the Atal Setu enhancing connectivity and reducing travel times to Mumbai, this region will remain high on the radar for homebuyers, developers, and investors alike.
Mr Deepak Khandelwal - Principal Partner & Chief Sales Officer, Square Yards
“The Navi Mumbai International Airport stands as a cornerstone of the region’s broader infrastructure push, supported by major upgrades in road, rail, metro, and waterway connectivity. Its imminent operationalisation has already begun to reshape the real estate landscape, particularly across the Panvel region. Localities such as New Panvel, Old Panvel, Kharghar, Ulwe, and Taloja are witnessing a surge in development, with a growing supply of premium residential projects, gated communities, and large integrated townships. The market response has been strong, with apartment prices in the Panvel region rising by nearly 74% between FY 2021 and FY 2025, compared to 45% growth across the rest of Navi Mumbai. With the first phase to be inaugurated today and full-scale operations expected soon, the airport is set to drive the next wave of value creation, reinforcing Panvel’s position as one of the most promising growth hubs not only within the Mumbai Metropolitan Region and beyond.”
Other insights: Navi Mumbai | Navi Mumbai International Airport – Panvel Region ·
Apartments: Apartment prices in the Panvel region stood at Rs. 10,000–12,000 per sq.ft, growing by 74% from FY21 to FY25. Comparatively, the rest of Navi Mumbai commanded higher prices of Rs. 19,000–21,000 per sq.ft but saw only 45% growth.
Residential Plots: Panvel's plotted land rates on an average ranged from Rs. 80,000–85,000 per sq.yd, reflecting a solid 93% increase. In other parts of the city, plot prices were higher at Rs. 1,10,000–1,30,000 per sq.yd, but with a relatively slower growth of 58% over the same period.