October 9, 2025: The inauguration of the first phase of the Navi Mumbai International Airport (NMIA) by Prime Minister Narendra Modi on Wednesday has triggered a frenzy in the adjoining property markets, with land and housing prices soaring long before commercial operations commence in December.
According to Anarock Research, land values in Ulwe, Panvel, Taloja, and Kharghar have jumped by 50–60% over the past three years, while residential prices have risen by 20–40%. Ulwe, the site of the airport, has recorded the steepest 40% increase, followed by Kharghar at 20%. “There remains scope for a further 30–40% growth in land prices over the next two years,” said Anuj Puri, Chairman of Anarock Property Consultants.
Square Yards’ Deepak Khandelwal noted even steeper climbs, with housing prices in Panvel up 74% between FY21 and FY25 to Rs 10,000–Rs 12,000 per sq ft. Plot rates have surged by 93% to Rs 80,000–Rs 85,000 per sq yard. Developers have responded swiftly, launching nearly 45 million sq ft of residential space across Navi Mumbai in the past three years, with two-thirds concentrated in these four hot spots.
Industry experts say infrastructure upgrades such as the Mumbai Trans Harbour Link, expanded Metro lines, and the Sion–Panvel highway are fuelling the region’s appeal. “Areas once seen as potential zones are fast becoming high-demand corridors,” said Ram Naik, CEO of The Guardians Real Estate Advisory.
Anshuman Magazine, Chairman & CEO of CBRE India, said the airport will have a “transformative impact” on both residential and commercial real estate. Developers expect a further 20–25% rise in prices before stabilisation.
With the planned Navi Mumbai Aerocity and NAINA Mumbai 3.0 initiative, the region is emerging as a key urban extension — positioning Navi Mumbai as India’s next major investment and housing hub.
Source: Financial Express
