Mumbai: After Delhi-NCR, Navi Mumbai is fast becoming a hotspot for real estate activity—and for the common homebuyer, it’s about to get much more expensive. With the upcoming launch of the Navi Mumbai International Airport (NMIA), the property market around the airport has started heating up rapidly. Analysts predict a major price jump, possibly up to Rs 15,000 per square foot in the near future.
Areas Like Panvel and Ulwe Already Seeing a Spike
Key areas near the airport such as Panvel, Ulwe, and Kharghar are witnessing sharp price growth. The reasons behind this surge include better connectivity, increased job opportunities, and large-scale commercial development. Investors have already started pouring money into these regions, and infrastructure work is progressing at a fast pace—further pushing up land and home prices.
Airport Inauguration on October 8, Flights from December
The NMIA will be officially inaugurated on October 8, and commercial airline operations are expected to begin by December 2025. This development is expected to bring massive economic growth to the surrounding region, further driving demand for residential and commercial properties.
Land Prices in NAINA Witness Wide Range
In the Navi Mumbai Airport Influence Notified Area (NAINA), land rates currently range from Rs 5 lakh to Rs 25 lakh per guntha (about 101.17 square meters). That means the price per square meter varies between Rs 5,000 and Rs 25,000. These figures are expected to rise significantly once the airport becomes fully functional.
Expected Jump in Property Prices
Property prices across Navi Mumbai—especially in Panvel—are expected to rise between 5 percent and 15 percent. Currently, prices in Panvel and New Panvel range between Rs 6,500 and Rs 10,500 per square foot, depending on the location and the project. However, after the airport’s opening, these rates could shoot up to Rs 12,500–Rs 15,000 per square foot.
Affordable Housing May Slip Further Away
While this real estate boom presents a golden opportunity for investors, it is also causing concern among middle-class homebuyers looking for affordable homes. Much like how airports and expressways reshaped prices in Delhi-NCR, the Navi Mumbai International Airport is set to take this region into a new, more expensive era of real estate.
