E-Paper
Planning to buy an apartment near Navi Mumbai International Airport? Here’s how much it will cost and what buyers should know
Navi Mumbai International Airport's commercial operations having started last year, property values in the surrounding areas vary depending on several factors
Prefer HTon Google
With the Navi Mumbai International Airport (NMIA) operational for nearly a year, the landscape around the airport is beginning to take shape as a new residential and investment hub in the Mumbai Metropolitan Region (MMR). Yet, for homebuyers looking to ride the airport-led growth story, there is no single price tag. Property values vary sharply by location, project, configuration, and, most importantly, proximity to the infrastructure driving the transformation, real estate experts told Hindustan Times Real Estate.
Property prices near Navi Mumbai Airport
Ulwe, one of the closest established residential nodes to NMIA, is currently seeing apartment prices in the ₹9,000- ₹15,000 per sq ft range, with some newer or premium projects commanding higher asking rates, local brokers said.
For a homebuyer looking at a 1 BHK, an apartment in Ulwe could cost roughly ₹45 lakh- ₹ 65 lakh, depending on size and location. A 2 BHK could cost ₹70 lakh- ₹ 1.20 crore, while a 3 BHK may cost ₹1.20 crore- ₹ 2 crore or more. Further, larger 4 BHK homes can exceed ₹2 crore, particularly in newer, larger projects. Current rental listings indicate that homes are available for ₹10,000 to ₹75,000 per month.
Beyond Ulwe, Panvel and Dronagiri, located about 30 minutes from the airport, have gained traction among investors and homebuyers in the last 10 years. With ongoing infrastructure upgrades and improved road connectivity, several reputed developers have launched affordable and mid-segment housing projects priced below ₹1 crore in these areas.
According to local brokers, Panvel offers a wider range of entry points. The average apartment prices are about ₹8,306 per sq ft, while BHK-wise rates range from ₹4,500- ₹8,000 per sq ft for 1 BHKs, ₹5,500- ₹10,700 for 2 BHKs and ₹8,200- ₹12,900 for 3 BHKs.
A typical 1 BHK ticket size in Panvel is in the range of ₹52 lakh- ₹82 lakh, 2 BHKs at ₹82 lakh- ₹1.12 crore and 3 BHKs at ₹1.12 crore- ₹1.56 crore, with monthly rents of about ₹13,000- ₹18,000, ₹20,000- ₹25,000 and ₹30,000- ₹35,000 respectively, brokers said.
On the other hand, Khargar, a more developed node, commands a premium but still offers 1BHK options starting at around ₹80 lakh and 2BHK apartments priced between ₹1.20 crore and ₹1.75 crore.
“Ulwe and Pushpak Nagar are in the immediate vicinity of the airport, and property markets in these locations are closely correlated with infrastructure development. However, overnight maturity will not happen for real estate around Navi Mumbai Airport. The process has started, and it will take time, say around 10 years," said Gautam Thacker, chairman and founding president of NAREDCO, Karjat-Neral Belt.
"Over the next 10 years, we expect these locations to mature and reach a level comparable to markets around the Mumbai International Airport. Mumbai’s airport market also took time to develop, partly due to the city’s population and the gradual evolution of its infrastructure. Navi Mumbai is now witnessing migration- and infrastructure-led development, and maturity will eventually catch up. The key trigger will be infrastructure. We could see property prices in Ulwe locations rising from around ₹15,000 per sq ft on a carpet-area basis today to about ₹50,000 per sq ft over the next 10 years. Thacker said.
Also Read: Here’s how airport corridors fuelled real estate demand across NCR, Mumbai and Bengaluru markets
Residential plots near the Navi Mumbai International Airport
According to data from SquareYards, for residential plots from FY21 to FY25, Panvel's plotted land rates rose 93% to ₹80,000- ₹85,000 per sq. yd. on average. 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.
"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," said Deepak Khandelwal, Principal Partner and Chief Sales Officer, Square Yards.
All about Navi Mumbai International 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. The airport's commercial operations began in December 2025, and the inauguration took place in October 2025.
Who should buy?
According to real estate experts, homebuyers and investors having budget in the range of ₹30 lakh to ₹2 crore have good options in Navi Mumbai, which is in the 30 minutes to 1 hour radius of the Navi Mumbai International Airport. However, for homebuyers having budget of above ₹2 crore, there are plenty of options available in the city limits of Mumbai.
