by Jignesh V Visaria, Partner, The Platinum Group
India seems to be in for a major infrastructural change with the upcoming ‘Greenfield’ Navi Mumbai International Airport (NMIA) project. Apart from being a travel center, NMIA signifies another terminal change in the real estate space of Navi Mumbai and the broader Mumbai Metropolitan Region which is poised to significantly influence the region’s industrial and economic landscape. Even at this stage, while construction is being done at a record pace, the project is changing the international standards of real estate, transforming value for investment, development, and migration.
NMIA is being promoted as a top-class international airport which is estimated to service more than 90 million passengers annually. The first phase, which is likely to start operations by June, 2025, will have the ability to manage 25 million passengers each year. With this expansion, Navi Mumbai hopes to surpass the underused International Airport situated in Mumbai. The 35-kilometer radius which serves as a drive train for South Mumbai is additionally an economic advantage, since its construction will relieve traffic. NMIA will also be connected to other transportation Mumbai Trans Harbour Link (MTHL) and suburban railway, metro lines, bullet train corridor, ensuring multi-layer seamless transport for cargo and passengers.
The development of NMIA has resulted in an increase in premium and ultra-premium real estate projects in Navi Mumbai and surrounding areas. Developers are taking advantage of new opportunities to construct greater quality residential and commercial developments due to better infrastructure, international standards of urban planning, and improved connectivity. The high-end offerings being developed are directed not only towards NRIs and high net worth individuals (HNIs) but also transforming the urban landscape of the region with lifestyle-centric developments which enables the region to compete with top international cities.
The Mumbai Trans Harbour Link (MTHL), officially known as Atal Setu, is transforming daily commuting by significantly reducing travel time between South Mumbai and Navi Mumbai. What was previously a lengthy and arduous journey has now been replaced by a swift and efficient drive. This landmark in urban connectivity is playing a pivotal role in accelerating infrastructure development and unlocking new opportunities for commercial growth in Navi Mumbai.
The upcoming NMIA has sparked a rapid transformation in previously underdeveloped areas like Ulwe, Dronagiri, Panvel, and Kharghar - turning them into real estate hotspots with immense potential. Land prices in these regions have already risen by 20–30% in recent years, with an even sharper increase expected once the airport is operational. Ulwe, once seen as a remote outpost, has emerged as one of Navi Mumbai’s fastest-growing residential and commercial nodes, largely due to its proximity to NMIA and direct connectivity via MTHL. Developers are racing to meet the rising demand by accelerating construction of residential, commercial, and mixed-use projects.
NMIA is not a standalone development project but represents a more mature phase in an ongoing initiative of city megastructure planning. At the heart of this vision is the Navi Mumbai Airport Influence Notified Area (NAINA), a strategically planned smart city spanning over 600 square kilometers and spearheaded by CIDCO. CIDCO is spearheading this project marked as a self-sustaining smart city - dedicated fully to residential, commercial, educational and industrial areas. This transformative initiative is backed by major infrastructure projects such as the Mumbai Trans Harbour Link (MTHL), or Atal Setu, which connects Sewri in South Mumbai to Chirle in Navi Mumbai, drastically reducing travel time and establishing a direct link between NMIA and Mumbai’s core. In addition, the expansion of the Sion-Panvel Highway, upcoming metro lines, and the Virar-Alibaug Multi-Modal Corridor are set to enhance regional connectivity and economic integration. Collectively, these developments signify a paradigm shift toward infrastructure-led growth, positioning Navi Mumbai as a globally competitive urban hub.
In addition to improved infrastructure and quality of life, Navi Mumbai is gaining global recognition as an investment destination. The unique blend of affordability and long-term growth potential is transforming how investors and homebuyers view the region. While real estate prices in Mumbai remain prohibitively high, Navi Mumbai’s suburbs offer more accessible options with strong prospects for capital appreciation. Rental yields are also rising, particularly in areas like Taloja, Kharghar, and Panvel, driven by a growing workforce in infrastructure, construction, and related sectors.
An influx of professionals is emerging from the aviation, logistics, and infrastructure industries, creating additional demand for rental housing and commercial spaces. Other institutional investors and global real estate funds have begun paying closer attention as well. With this growing interest from aggressive investment arms, as the zone matures, real estate investment trusts (REITs), private corporations, and even multinational firms seeking to expand their presence have been pouring emerging zone funds. From “affordable,” developers are now adjusting their projects towards “aspirational,” catered to smart shifts in demand for premium residential features, advanced designs, and future-ready technologies. The evolution of consumer preferences is prompting a shift toward high-quality, integrated projects that offer more than just four walls—they offer lifestyle.
The potential of NMIA and the future development of Navi Mumbai has been evident since the day the project was finalised. The focus has since remained on creating lifestyle-driven, urban-integrated projects that address tomorrow’s housing and commercial needs. Wellness-focused, sustainable, smart living communities are taking shape - solar-powered residential environments and eco-protected multi-tower developments are redefining the standards of modern urban living. Whether premium apartments, commercial centers, or large-scale mixed-use townships, these projects are becoming new landmarks designed for long-term value and resilience.
What distinguishes these emerging developments is their commitment to a township-based, integrated approach to urban living - an aspect frequently neglected in conventional real estate planning. Rather than focusing solely on residential units, these projects prioritize the creation of curated, self-sustaining communities that deliver long-term value. These modern townships are designed to foster a holistic lifestyle, offering a thoughtfully planned blend of digital infrastructure, expansive green spaces, educational institutions, healthcare facilities, postmodern retail centers, and wellness-focused amenities, including digital-first fitness zones that extend well beyond traditional gym concepts. With a strong emphasis on walkability, sustainability, and smart city technologies, these developments align closely with the evolving aspirations of young professionals and emerging nuclear families. They represent more than physical infrastructure - they embody future-ready ecosystems that address the growing demand for quality of life, community engagement, and work-life integration in urban India.
Concurrently, the region’s infrastructure is developing at a remarkable pace, elevating Navi Mumbai to an upcoming center for premium corporate real estate in India. The city is expected to receive unparalleled interest from international brands, universities, scholarly institutions, healthcare institutions, and massive retail store franchises-oriented to capture battle with reclaimed urban planning and location. Navi Mumbai’s transformation is reshaping its housing economy, shifting it from a static satellite town to a self-sustaining, economically advanced powerhouse.
Corporate offices and development centers are rapidly taking root in Navi Mumbai, taking advantage of lower operational costs and an expanding talent pool. Major retailers are setting up logistics hubs and large-format malls. Educational institutions and healthcare providers are establishing world-class schools and super-specialty hospitals. For millennials and young families priced out of Mumbai’s core suburbs, Navi Mumbai is becoming a smart alternative—offering both affordability and aspirational living.
The real estate surge driven by NMIA is not a temporary phenomenon - it marks the beginning of a long-term growth trajectory. Industry consensus suggests that once the airport becomes operational, there will be significant price appreciation across key nodes, particularly in the mid- to long-term phases. For investors and end-users, this is an ideal time to enter the market. At the same time, developers must rise to the occasion by focusing on design, scale, and integrated planning. The upcoming self-sustained micro-cities will be anchored in sustainability, digital infrastructure, and enhanced livability.
NMIA is more than an airport - it’s a transformational force putting Navi Mumbai on the global stage. The real estate sector is already unlocking new avenues for growth, innovation, and long-term prosperity, and this momentum is set to accelerate in the years ahead. At Platinum Group, we are proud to contribute to this extraordinary evolution. With every initiative, we remain committed to shaping Navi Mumbai’s future and supporting its rise as a smart, sustainable, and globally recognized city.
