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Navi Mumbai International Airport NMIA, set for inauguration by PM Modi in October, is driving property prices up in Panvel, Ulwe, and Kharghar.
A statement by the DCM’s office said the Navi Mumbai Airport will be inaugurated by Prime Minister Narendra Modi. (Photo Credits: X)
As expected, the upcoming Navi Mumbai International Airport (NMIA) is poised to transform the lives of residents and property owners in the surrounding areas. The airport’s development has already triggered a sharp rise in both commercial and residential property prices nearby.
Analysts are expecting a major price jump of up to Rs 15,000 per square foot in the near future, according to Free Press Journal report. This surge is driven by improved connectivity, growing employment opportunities, and large-scale commercial developments.
Areas near the airport, including Panvel, Ulwe, and Kharghar, are seeing a significant rise in property prices.
PM Modi To Inaugurate Navi Mumbai International Airport
Prime Minister Narendra Modi will inaugurate the Phase 1 of Navi Mumbai International Airport (NMIA) between 8-9 October.
The airport will work alongside the city’s existing international hub, Chhatrapati Shivaji Maharaj International Airport (CSMIA) to create a twin-airport system similar to Dubai’s DXB–DWC or New York’s JFK–Newark network.
Spread over nearly 2,865 acres, NMIA has been built in phases to meet the growing demand for air travel. The first phase includes Terminal 1, which is ready to operate and can handle 20 million passengers annually. The airport will expand to four terminals in the next few years. With this, it will eventually manage up to 90 million passengers per year.
Designed with a lotus-inspired roof and large glass windows, Terminal 1 is equipped with modern check-in counters, automated kiosks, biometric systems and fast baggage claim facilities to provide a smooth travel experience. Passengers can look forward to spacious lounges, efficient smart security lanes and clear signage designed to deliver a seamless travel experience. Apart from this, NMIA also includes an integrated aero city with retail, hospitality and logistics hubs.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
October 07, 2025, 16:35 IST
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