Navi Mumbai International Airport (NMIA), also known as D.B. Patil International Airport, is an ambitious project that is set to redefine the infrastructure landscape of Maharashtra. As the second-largest airport in the Mumbai Metropolitan Region, NMIA holds the promise of revolutionizing air travel, boosting economic growth, and reshaping the real estate market. Let’s delve into the key aspects of this visionary project and explore its significance and latest developments.
NMIA, led by the City and Industrial Development Corporation (CIDCO), will be developed in three phases. The initial phase aims to accommodate 25 million passengers annually, with future expansion plans to handle over 90 million passengers per year. This ambitious undertaking seeks to alleviate the burden on the existing Chhatrapati Shivaji Maharaj International Airport and enhance air connectivity in the region.
NMIA will offer a range of world-class amenities. While the construction of the runway and terminal is nearing completion, the development of stores, restaurants, and baggage services is still underway. The airport boasts impressive features, including a 720,000-square-foot apron, a 180,000-square-foot terminal, and 10 code C aircraft parking spaces. Two parallel runways, situated 1.55 km apart across a vast area of 1,160 hectares, will facilitate efficient operations and accommodate the growing air traffic. Designed by Zaha Hadid Architects, NMIA will feature three interconnected terminal buildings with a unique lotus leaf-inspired design, offering passengers lounges, food courts, duty-free stores, travellators, and other modern amenities. Additionally, a dedicated low-cost carrier terminal is planned to accommodate 2 million passengers annually. The airport will also house cargo and maintenance facilities, including a domestic freight terminal and an international cargo terminal, along with aircraft hangars, a fuel farm, and a Maintenance, Repair, and Overhaul (MRO) facility.
In 2021, the Adani Group acquired a controlling interest in NMIA, accelerating the project’s progress. With the support of CIDCO, the Adani Group acquired the land for construction in 2022 and initiated the building process. According to media reports, the airport is expected to commence operations by December 2024, with potential future connectivity to Pune. This monumental project will not only transform the region’s transportation dynamics but also have a significant impact on the local real estate market.
NMIA is expected to exert a profound influence on the real estate market, particularly in Panvel and its neighboring areas. The surge in economic activity, job opportunities, and improved connectivity is projected to drive property values up by 10-15%. As individuals seek a better quality of life, the demand for both spacious and affordable residential properties in Panvel and surrounding communities is set to rise.
NMIA enjoys a strategic location east of Mumbai and is well-connected through NH 348. The planned Airport Express Line metro and Mumbai Metro Line 8 will further enhance connectivity. The ongoing construction of the Mumbai Trans Harbour Link (MTHL) will create seamless accessibility between NMIA and Mumbai, adding to its appeal.
Navi Mumbai International Airport signifies a new era of progress, economic prosperity, and enhanced connectivity for Maharashtra. As the project takes shape, it promises to transform the region’s skyline, stimulate economic growth, and create a ripple effect in the real estate market. With its modern infrastructure and strategic location, NMIA is poised to become a vital hub for air travel and a catalyst for growth in the region.”
Vijay Jeswani Builder & Developer in Navi Mumbai is a renowned real estate developer known for their premium projects, and the Parivaramm project near Panvel is an under construction project that benefits from its proximity to the upcoming Navi Mumbai International Airport. With their commitment to excellence and focus on providing the best amenities, Vijay Jeswani Builder & Developer continues to shape the real estate landscape in Navi Mumbai and deliver exceptional residential spaces to their customers.