Impact of Navi Mumbai International Airport on property prices

The 5 key regions of Navi Mumbai that are likely to gain due to the coming up of the NMIA are Ulwe, Kamothe, Kharghar, Taloja and Panvel.

With the coming up of the airport several nodes are going to benefit, some of the nodes do not have necessary infrastructure. Success of the real estate development in these nodes purely depends on what kind of infrastructure CIDO provides in the region.

The upcoming airport has triggered activity rush in the affordable housing segment. Cashing in on the international airport, CIDCO has some ambitious plans for Navi Mumbai as well. A 100 hectares corporate park will be developed in the Kharghar region on the lines of BKC, hoping to attract both investments and corporate occupiers.

Price trends in Navi Mumbai

Real estate giants and top builders in Navi Mumbai have successfully completed residential and commercial projects catering to the demands of people from all income groups.

Price trends in Navi Mumbai show that the prices are on the rise but properties are still affordable when compared to Greater Mumbai.


Average prices in some places of Navi Mumbai include:

Rs 6,000-Rs 15,000 per sq ft in Nerul
Rs 6,000-Rs 8,000 per sq ft in Kharghar
Rs 4,000-Rs 9,000 per sq ft in Ulwe
Rs 4000 – 10,000 per sq ft in Kamothe
Rs 3,000 – 15,000 per sq ft in Panvel and
Rs 3,000 – 9,000  per sq ft in Taloja

Navi Mumbai International Airport will be a game changer for Navi Mumbai region real estate. The first flight should take off from the new airport, by 2019.

 

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