Navi Mumbai Intl Airport opening: Here’s a look at affordable housing options for homebuyers under ₹1 crore

PRIME Minister Narendra Modi is set to inaugurate the Navi Mumbai International Airport on October 8. Homebuyers with a budget under ₹1 crore have several promising options in nearby areas, including Taloja, Ulwe, Panvel, and Dronagiri

As the Navi Mumbai International Airport (NMIA) gears up for its inauguration by Prime Minister Narendra Modi on October 8, real estate activity in the surrounding micro-markets has picked up. Nearly three decades in the making, the airport is expected to be a major catalyst for commercial and residential growth in the region.

Industry experts say the areas around the upcoming airport remain among the few pockets in the Mumbai Metropolitan Region (MMR) where homebuyers can still purchase a 2 BHK or 3 BHK apartment for under ₹1 crore.

The upcoming airport, located in Ulwe, is one of India’s largest greenfield infrastructure projects and is expected to significantly ease passenger congestion at Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai. With connectivity enhancements such as the Atal Setu, also known as the Mumbai Trans Harbour Link (MTHL), coastal road, and metro extensions, the Navi Mumbai region is poised to become one of the most accessible real estate markets in the MMR, experts said.

What are the options available for homebuyers with a budget of ₹1 crore?

According to real estate consultants and developers, several emerging pockets around the upcoming Navi Mumbai International Airport offer promising options for homebuyers with a budget under ₹1 crore.

Ulwe, located just 10–15 minutes from the airport site, offers 1BHK and compact 2BHK apartments priced between ₹40 lakh and ₹80 lakh.

Taloja, expected to benefit from the upcoming metro line and proximity to industrial hubs, offers homes in the ₹45 lakh to ₹90 lakh range for 1BHK and 2BHK units. Kharghar, a more developed node, commands a premium but still has 1BHK options starting at around ₹80 lakh, appealing to professionals seeking better social infrastructure, schools, and connectivity.

Beyond these, Panvel and Dronagiri, located about 30 minutes from the airport, are gaining traction among investors looking for long-term appreciation. 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.

Real estate experts say NMIA’s operational launch will be a ‘watershed moment’ for Navi Mumbai’s property market. “Once the airport becomes functional, property prices across Ulwe, Dronagiri, and Taloja could rise by 15–20% over the next two to three years,” said Bharat Sinha, a real estate consultant based in Navi Mumbai.

Sinha said that apartment prices in Ulwe have already doubled over the past decade. As of 2025, a 2BHK apartment in Ulwe is priced between ₹82.5 lakh and ₹1.35 crore, depending on location, amenities, and the developer’s reputation. In 2015, similar units were available for ₹41.1 lakh to ₹82.5 lakh, averaging ₹6,000– ₹7,500 per sq. ft, he said.

For prospective buyers, Ulwe and its neighbouring areas continue to offer a range of options under ₹1 crore, from ready-to-move-in to under-construction homes, making them attractive for both end-users and investors, local brokers said.

The price appreciation story

According to experts, the opening of Navi Mumbai Airport is expected to lead to growth across multiple asset classes.

"With the launch of the Navi Mumbai Airport, the entire Panvel-Ulwe corridor is expected to grow significantly across multiple asset classes. The Navi Mumbai region is poised to further elevate its status as a premier global metropolitan destination," Karan Singh Sodi, Senior Managing Director (Mumbai MMR & Gujarat) and Head-Alternatives, India, JLL.

"In the entire MMR, the vicinity of Navi Mumbai Airport is the only place where homebuyers have plenty of options for purchasing 2 BHK and 3 BHK in the ₹1 crore budget. So, this stretch is affordable in a true sense," said Gautam Thacker, founder, president and chairman of NAREDCO Raigad, an apex body of real estate developers.

According to Thacker, the maximum price for apartments in Ulwe, near the upcoming Navi Mumbai International Airport, is around ₹15,000 per sq ft on a carpet area basis. Local brokers said the average size of 2BHK units in Ulwe ranges between 550 sq ft and 650 sq ft. The most affordable apartments, priced at about ₹9,000 per sq ft, are typically located in areas within a 30-minute drive from the airport.

"The appreciation in residential real estate has been remarkable. Back in 2015, I was selling apartments at around ₹3,600 per sq ft for my project near the Navi Mumbai Airport. Today, those same units are priced above ₹8,000 per sq ft, reflecting a healthy appreciation of over 10% annually," said Ashok Chhajer, CMD at Arihant Superstructures Ltd.

"What’s even more interesting is that this is one of the few regions where you can still find 1 BHK apartments in the ₹30–40 lakh range, within gated communities offering modern amenities. It continues to be a promising destination for homebuyers looking to settle down in a well-connected, high-growth corridor," Chhajer said.

How far is Navi Mumbai 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 30 minutes by road from the existing Mumbai International Airport.