NMIA Inauguration Fuels Real Estate Boom in Navi Mumbai
The opening of the Navi Mumbai International Airport (NMIA) on September 30 is expected to boost property prices in Navi Mumbai, particularly in Panvel, by 5–15%. Current prices in Panvel and New Panvel range from Rs 6,500 to Rs 10,500 per sq ft.
Navi MumbaiReal EstateNmiaProperty PricesInfrastructureReal Estate MumbaiSep 13, 2025
The confirmation came from Vijay Singhal, CIDCO chairman and managing director, during a panel discussion on Building for Tomorrow's MMR. The update was also posted on the Mumbai Metropolitan Regional Development Authority official social media handle on September 12.
Developers across the region have welcomed the move, calling it a transformative push for infrastructure. With the Mumbai Trans Harbour Link (MTHL/Atal Setu) already driving investor interest, NMIA is expected to take the city’s market to the next level.
“With the international airport opening, Navi Mumbai will finally be complete in terms of infrastructure. Since the Atal-Setu launch, enquiries in the Ulwe-Dronagiri belt have risen sharply, and now they will grow even further, along with land prices,” said Dharmendra Karia, Choice Group CMD and BANM Trustee.
Land prices in the Navi Mumbai Airport Influence Notified Area (NAINA) currently range between Rs 5 lakh and Rs 25 lakh per guntha (101.17 sq m), translating to Rs 5,000 to Rs 25,000 per sq m.
Karia noted that developers from Mumbai, who traditionally preferred redevelopment projects in the island city and suburbs, are now eyeing large land parcels in Navi Mumbai for townships and complexes.
Industry leaders, however, stressed the need for robust connectivity. “The airport must be supported by approach roads, highways, railways, and metro connectivity. CIDCO should have developed these in parallelly, but now it must be done on a war footing,” said Raju John, CEO of Builders Association of India.
Property prices are projected to rise across Navi Mumbai, particularly in Panvel, by 5–15%. Currently, Panvel and New Panvel prices range from Rs 6,500 to Rs 10,500 per sq ft, depending on the project and location. Post-airport inauguration, this could increase to Rs 8,500–Rs 12,500, said Manohar Shroff, director of Shivam Real Estate Pvt Ltd.
Prices in Navi Mumbai Airport Influence Notified Area (NAINA) range: From Rs 5 to Rs 25 lakh per Guntha (101.17 square meters), that is Rs 5000 to Rs 25,000 per sq meter.
The current prices of Panvel and New Panvel city: Rs 6500- Rs 10,500, depending on the location, elevation, and project. May increase to Rs 8,500-Rs 12,500.
Frequently Asked Questions
What is the Navi Mumbai International Airport (NMIA)?
The Navi Mumbai International Airport (NMIA) is a new international airport being developed in Navi Mumbai, India. It is expected to significantly boost the region's infrastructure and economy.
When is the NMIA expected to open?
The NMIA is scheduled to open on September 30, 2025.
How will the NMIA affect property prices in Navi Mumbai?
The opening of the NMIA is projected to increase property prices across Navi Mumbai, particularly in Panvel, by 5–15%. Current prices in Panvel and New Panvel range from Rs 6,500 to Rs 10,500 per sq ft, and are expected to rise to Rs 8,500–Rs 12,500.
What is the Navi Mumbai Airport Influence Notified Area (NAINA)?
The Navi Mumbai Airport Influence Notified Area (NAINA) is the region around the NMIA where land prices are influenced by the airport's development. Land prices in NAINA currently range from Rs 5 lakh to Rs 25 lakh per guntha (101.17 sq m).
What infrastructure is required to support the NMIA?
To support the NMIA, robust connectivity is essential. This includes approach roads, highways, railways, and metro connectivity. Industry leaders emphasize the need for these developments to be accelerated.
Related News Articles
The Hidden Tax: How Indexation Removal Affects Real Estate Investments
The removal of indexation benefit from long-term capital gains on real estate is a retrospective tax, based on the flawed assumption that property values always appreciate.
Rexas Finance Revolutionizes Tokenized Assets with Record-Breaking Presale
Rexas Finance is changing the game by allowing fractional ownership of high-value assets like real estate, artworks, and commodities through blockchain technology.
Amitabh Bachchan Sells Luxurious Mumbai Duplex for Rs 83 Crore
Bollywood icon Amitabh Bachchan has reportedly sold his luxurious duplex apartment in Mumbai for a whopping Rs 83 crore. The property, initially purchased for Rs 31 crore in April 2021, has seen a significant rise in value over a short period of time, as
Tata Investment Corp Secures Office Space in Mumbai's Wadala for Rs 150 Crore
Mumbai's commercial real estate market continues to attract major players as Tata Investment Corp acquires a new office space in Wadala for a hefty sum of Rs 150 crore. This strategic move highlights the growing interest in Mumbai's real estate, particula
Real Estate Prices Surge by 10% in Major Cities, Delhi-NCR Leads the Way
The housing market in major cities across India is experiencing a significant surge in prices, with Delhi-NCR leading the rise due to robust demand. This positive trend is expected to continue, making it an ideal time for homebuyers to invest in real esta
India's Housing Market Slows, but Organised Developers Remain Resilient
Despite a temporary slowdown in sales in March and April, organised developers like Prestige Estate and Brigade Enterprise are expected to see growth, driven by government incentives and lower interest rates.