Kharghar Real Estate Soars with Record-Breaking Auction Prices
Kharghar is rapidly emerging as a prime real estate destination, with a recent CIDCO auction fetching record prices of Rs 7.35 lakh per sq. meter for a plot in Sector 6. The surge is attributed to the upcoming Navi Mumbai International Airport and other infrastructure projects.
KhargharReal EstateNavi MumbaiCidcoAuctionReal EstateSep 25, 2025
Out of 12 bidders competing, nine quoted above Rs 6 lakh, while Abhinandan Builders and Arora Universal Realty LLP went beyond the Rs 7 lakh mark. The base price for the plot was just Rs 3.35 lakh per sq. meter, making the highest bid nearly 2.2 times the reserve price. In total, 32 plots across Airoli, Dronagiri, Ghansoli, Kharghar, Koparkhairane, Nerul, Pushpak, and Sanpada were auctioned by CIDCO.
While developers celebrated the surge in auction rates, urban planners expressed concern over what they called an “unrealistic price rush.” Architect Amit Dhanawat of Sanpada noted that inflated land costs often lead builders to cut corners on construction to balance project expenses. “Real transformation in Navi Mumbai would come only when industries create large-scale employment opportunities, as most highly paid professionals still commute to Mumbai for work,” Dhanawat stressed.
Developers, however, attributed the record bid to the upcoming Navi Mumbai International Airport, set to open in October, and other planned infrastructure projects. Manohar Sharoff of Shivam Developer remarked that the “airport hype” has made builders bullish about property prices in the city. Industry leaders remain watchful of how developers will utilize these plots. Dharmendra Karia, Chairman of Choice Group and BANM Trustee, stated that the key lies in whether projects are designed as commercial, residential-cum-commercial, or luxury residential, and how the market responds.
A prime plot in Kharghar’s sector 37, measuring 20,955 sq. meters, has fetched a record bid of Rs 490 crore, setting a new benchmark in Navi Mumbai’s real estate market. The deal translates to an impressive Rs 2.34 lakh per sq. meter, higher than the proposed base price of Rs 2 lakh per sq. meter. This bid reflects the soaring demand and value of land parcels in Kharghar, considered one of the fastest-developing nodes under CIDCO’s planning.
Frequently Asked Questions
What is the highest bid per square meter for a plot in Kharghar?
The highest bid per square meter for a plot in Kharghar was Rs 7.35 lakh, achieved at a CIDCO auction on September 25.
Who won the record-breaking bid for the plot in Sector 6?
Abhinandan Builders won the record-breaking bid for the plot in Sector 6 at a total cost of Rs 220 crore.
What factors are driving the high auction prices in Kharghar?
The high auction prices in Kharghar are primarily driven by the upcoming Navi Mumbai International Airport and other planned infrastructure projects.
What are the concerns of urban planners regarding the high land costs?
Urban planners are concerned that inflated land costs may lead builders to cut corners on construction to balance project expenses, potentially affecting the quality of development.
How does the real estate market in Kharghar compare to other areas in Navi Mumbai?
Kharghar is considered one of the fastest-developing nodes under CIDCO’s planning, with record-breaking auction prices reflecting its growing importance in the Navi Mumbai real estate market.
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