With the inaugural flight from the upcoming Navi Mumbai International Airport (NMIA) expected to take off after 15 May, interest in nearby real estate has soared—particularly among aviation professionals.
One such buyer is Daniel Pinto (name changed), a commercial pilot based in Mumbai’s western suburbs, who recently purchased a luxury villa in Chouk—approximately 45 minutes from the new airport—for Rs 4 crore. With property prices near Mumbai’s current airport areas like Juhu and Santacruz reaching as high as Rs 15–20 crore for villas, Pinto views this as a timely and strategic investment before prices escalate.
“There was a time when I could have bought a row house in Juhu, but I didn’t see the potential. Now, with NMIA on the horizon, I see an opportunity for my son—who’s also a pilot—to be close to a key aviation hub,” Pinto told HT.com.
Developers and consultants report a growing trend of pilots and aviation professionals, especially those nearing retirement, purchasing plots and villas near NMIA. According to Ashok Chhajer, CMD of Arihant Superstructures, aviators now make up around 5% of buyer enquiries at their Chouk villa project.
“Our offering provides better value for money compared to Western Mumbai,” said Chhajer. “It’s attracting not just pilots, but also industrialists and senior corporate executives seeking proximity to the new airport without the sky-high Mumbai price tag.”
Real estate in Chouk is priced competitively, with land starting at Rs 4,000 per sq ft and ready-to-move luxury villas available at around Rs 10,000 to Rs 11,000 per sq ft. These figures are drawing in not just Mumbai-based professionals but also investors from West Pune, who value the area’s equidistant access to both cities.
Raajesh Prajapati, Founder President of MCHI-CREDAI Raigad, notes that the strategic location of NMIA is a major draw. “Buyers from Pune are increasingly active in the market. Many of them travel frequently between Mumbai and Pune, and investing near NMIA provides convenience and long-term returns.”
The NMIA project is managed by NMIAL, a joint venture between Adani Airport Holdings Ltd (AAHL) and CIDCO. With operations set to commence soon, industry experts expect a steady rise in both property prices and investor interest in the region.
As Navi Mumbai gears up to become the next big aviation and investment hub, early movers—especially those in the aviation industry—are positioning themselves to benefit from the region’s rapid transformation.
Source: Hindustan Times
