NMIA Launch Fuels Real Estate Boom in Navi Mumbai
The announcement of the Navi Mumbai International Airport (NMIA) launch has sparked optimism among developers, who anticipate a significant boost to the city’s real estate market.
Navi MumbaiReal EstateNmiaCidcoInfrastructureReal Estate NewsSep 13, 2025
The confirmation came from Vijay Singhal, CIDCO chairman and managing director, during a panel discussion on Building for Tomorrow's MMR. This update was also shared on the Mumbai Metropolitan Regional Development Authority's official social media handle on September 12.
Developers across the region have welcomed the move, hailing it as a transformative push for infrastructure. With the Mumbai Trans Harbour Link (MTHL/Atal Setu) already driving investor interest, NMIA is expected to elevate the city’s market to new heights.
“With the international airport opening, Navi Mumbai will finally be complete in terms of infrastructure. Since the Atal-Setu launch, inquiries 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.
However, industry leaders have emphasized the need for robust connectivity. “The airport must be supported by approach roads, highways, railways, and metro connectivity. CIDCO should have developed these in parallel, 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 the 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 range from Rs 6,500 to Rs 10,500 per sq ft, depending on the location, elevation, and project. Post-airport inauguration, this could increase to Rs 8,500 to Rs 12,500 per sq ft.
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 set to be inaugurated on September 30 and is expected to significantly boost the region's real estate market.
How will the NMIA impact land prices in Navi Mumbai?
Land prices in the Navi Mumbai Airport Influence Notified Area (NAINA) are expected to rise due to the NMIA. Currently, prices range from Rs 5 lakh to Rs 25 lakh per guntha. Post-inauguration, these prices are likely to increase further.
What is the current real estate scenario in Panvel and New Panvel?
Currently, property prices in Panvel and New Panvel range from Rs 6,500 to Rs 10,500 per sq ft. With the NMIA inauguration, these prices are projected to rise by 5–15%, potentially increasing to Rs 8,500 to Rs 12,500 per sq ft.
What are the concerns of industry leaders regarding the NMIA?
Industry leaders emphasize the need for robust connectivity, including approach roads, highways, railways, and metro connectivity. They urge CIDCO to develop these infrastructure projects on a war footing to support the airport.
Who is Vijay Singhal and what is his role in the NMIA project?
Vijay Singhal is the chairman and managing director of CIDCO (City and Industrial Development Corporation). He confirmed the NMIA inauguration during a panel discussion on Building for Tomorrow's MMR.
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