Residential demand in Navi Mumbai witnessed a sharp 44% year-on-year increase during the January–March period, driven largely by ongoing infrastructure expansion and improving connectivity, according to a report released by 99acres.
The report highlighted growing confidence among homebuyers and investors as several key micro-markets across Navi Mumbai recorded strong growth in residential searches and property demand.
Among the most preferred residential locations were Vashi-Belapur, Airoli-Ghansoli, Panvel and Ulwe-Uran. Of these, Vashi-Belapur and Airoli-Ghansoli saw the steepest rise in demand, with both regions registering growth of nearly 55%, indicating strong interest in both established and rapidly developing neighbourhoods.
According to the report, premium property prices continue to remain highest in Vashi-Belapur at Rs 26,530 per square foot, followed by Airoli-Ghansoli at Rs 19,390 per square foot and Kharghar at Rs 15,629 per square foot.
“Price trends further underline this momentum. Vashi–Belapur (Rs 26,530 per square feet), Airoli–Ghansoli (Rs 19,390 per square feet), and Kharghar (Rs 15,629 per square feet) remain the most premium markets, while Kharghar (11%), Airoli–Ghansoli (10%), and Taloja (5%) are leading in annual price appreciation, signalling investment potential beyond core areas,” said Anurag Jagati.
Industry observers attribute the growth to large-scale infrastructure projects such as the upcoming Navi Mumbai International Airport, the Mumbai Trans Harbour Link and the expansion of metro rail connectivity across the Mumbai Metropolitan Region.
Jagati also noted that affordability remains a key factor driving buyer activity.
“On the demand side, affordability continues to drive activity, with properties under Rs 50 lakh and in the Rs 1 to Rs 5 crore segments dominating searches. The sub Rs 50 lakh affordable category has witnessed significant growth at 14% YoY. Overall, the data points to a well-balanced market where infrastructure-led expansion, price appreciation, and sustained end-user demand are collectively shaping Navi Mumbai’s growth trajectory.”
The report suggests that Navi Mumbai continues to emerge as one of the fastest-growing residential markets in the Mumbai Metropolitan Region.
Source: Outlook Money
