Adani Realty, the real estate division of the Adani Group, plans to build its largest township project, covering more than 1,000 acres, next to its recently constructed international airport in Navi Mumbai. According to the Mint, the township is anticipated to be finished within the next ten years and will nearly treble the size of the 600-acre Dharavi redevelopment project by the Adani Group.
Given the Navi Mumbai township’s size and scope, the projected investment—more than Rs 10,000 crore—will be quadruple that of Shantigram. The sales office is prepared. The business is considering what kinds of goods, flats, or plots should be introduced initially because it wants to generate excitement right away. According to sources cited by the Mint, the project launch will only take place following the airport’s inauguration.
As per the reports, the project must obtain a few required clearances before it can begin. In addition, other infrastructure-related tasks, such as building a connecting road, will need to be finished.
The project is a component of Adani Realty’s fast growth in the fifteen years since the Adani Group first entered the market. Adani Realty was formerly a division of Adani Enterprises, the main company of the Adani Group, and subsequently moved under the name Adani Properties.
This coincides with the Navi Mumbai International Airport (NMIAL) being inaugurated in June of this year by the billionaire Gautam Adani-led Adani Group. After Chhatrapati Shivaji Maharaj International Airport, NMIAL is the second-largest aviation facility in the Mumbai Metropolitan Region (MMR). Originally, the consortium intended to open the airport in April and begin domestic commercial operations in May.
I went to see the Navi Mumbai International Airport today; it’s a top-tier airport in the making. In a post on X on March 16, the chairman of the Adani Group stated, “It will redefine connectivity & growth and is scheduled for inauguration this June.”
Adani Airport Holdings (AAHL) and CIDCO have a 74:26 joint venture in NMIAL. There will be two runways and four terminals at the airport.
Source: Outlook Business
