With the start of the first commercial flight operations from the Navi Mumbai International Airport (NMIA) on December 25, real estate experts believe that the entire Navi Mumbai region and its surrounding areas in the Mumbai Metropolitan Region (MMR) and the Pune Metropolitan Region (PMR) are already witnessing a wave of optimism and growth, which will further accelerate in the coming years.
Navi Mumbai Airport operations take off
The Navi Mumbai International Airport’s flight operations began on December 25. Domestic flights by IndiGo, Akasa Air, Air India Express and Star Air will connect the new airport to multiple Indian cities from day one, with IndiGo’s Bengaluru-Navi Mumbai service scheduled to be the first arrival at 8 am and a Hyderabad-bound flight marking the first departure at 8:40 am, according to PTI news agency.
Prime Minister Narendra Modi raised the green flag at the Navi Mumbai Airport with its inauguration.
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How does Navi Mumbai Airport impact the real estate sector?
According to experts, the Navi Mumbai Airport has had a significant impact on the appreciation of land and residential unit prices.
“Apartment prices in the Panvel region stood at Rs. 10,000–12,000 per sq.ft, growing by 74% from FY21 to FY25. Comparatively, the rest of Navi Mumbai commanded higher prices of Rs. 19,000–21,000 per sq.ft but saw only 45% growth,” according to SquareYards.
Furthermore, for residential plots, Panvel’s plotted land rates on average ranged from Rs. 80,000 to Rs. 85,000 per sq. yd., reflecting a solid 93% increase. In other parts of the city, plot prices were higher at Rs. 1,10,000–1,30,000 per sq. yd., but with a relatively slower growth rate of 58% over the same period, according to SquareYards data.
“The Navi Mumbai International Airport stands as a cornerstone of the region’s broader infrastructure push, supported by major upgrades in road, rail, metro, and waterway connectivity,” Deepak Khandelwal, Principal Partner & Chief Sales Officer, Square Yards.
“Localities such as New Panvel, Old Panvel, Kharghar, Ulwe, and Taloja are witnessing a surge in development, with a growing supply of premium residential projects, gated communities, and large integrated townships. The market response has been strong, with apartment prices in the Panvel region rising by nearly 74% between FY 2021 and FY 2025, compared to 45% growth across the rest of Navi Mumbai,” Khandelwal said.
“The first flight from Navi Mumbai International Airport marks a defining moment for the extended Mumbai Metropolitan Region (MMR), setting in motion a new phase of regional growth. While micro-markets closest to NMIA will benefit immediately, its larger impact will unfold across strategically connected locations such as Khopoli. Positioned along the Mumbai–Pune Expressway, Khopoli stands to gain from improved accessibility, rising economic activity, and expanding employment corridors linked to the airport ecosystem,” said, Mohit Malhotra, Founder and CEO, Neoliv.
Housing options under ₹1 crore near Navi Mumbai International Airport
Real Estate experts say the areas around the upcoming airport remain among the few pockets in the Mumbai Metropolitan Region (MMR) where homebuyers can still purchase a 2 BHK or 3 BHK apartment for under ₹1 crore.
According to real estate consultants and developers, several emerging pockets around the upcoming Navi Mumbai International Airport offer promising options for homebuyers with a budget under ₹1 crore.
Ulwe, located just 10–15 minutes from the airport site, offers 1BHK and compact 2BHK apartments priced between ₹40 lakh and ₹80 lakh. Taloja, expected to benefit from the upcoming metro line and proximity to industrial hubs, offers homes in the ₹45 lakh to ₹90 lakh range for 1BHK and 2BHK units, according to local brokers.
Kharghar, a more developed node, commands a premium but still has 1BHK options starting at around ₹80 lakh, local brokers said.
How far is Navi Mumbai Airport?
The Navi Mumbai International Airport is approximately 45 minutes by road from South Mumbai and about an hour from the Bandra Kurla Complex (BKC), though travel time may vary depending on traffic conditions. It is roughly 1 hour and 30 minutes by road from the existing Mumbai International Airport.