Navi Mumbai: The Navi Mumbai International Airport (NMIA), scheduled to commence operations by June 2025, is playing a catalytic role for the transformation of real estate sector of the satellite city.

Areas like Ulwe and Karanjade are emerging as prime real estate destinations. Ulwe, in particular, has seen significant traction.

The proposed suburban railway line that will connect major corporate hubs further amplifies the appeal.

Property prices in Ulwe have seen a sharp uptick, climbing between 15 to 20 percent in recent quarters, with current rates hovering between Rs 7,000 and Rs 8,419 per square foot.

Karanjade is also fast catching up. Known for its affordable one BHK configurations and excellent access to Panvel and other commercial zones, the locality is particularly appealing to middle-income buyers looking for long-term growth.

Panvel, already a well-established node, is undergoing a striking transformation. Flanked by the Mumbai-Pune Expressway and the Sion-Panvel Expressway, the area enjoys unmatched road connectivity. Prices range between Rs 11,000 and Rs 12,500 per square foot.

Pushpak Nagar, adjacent to NMIA, is fast emerging as a lifestyle destination. With a year-on-year price appreciation of 4.6%, it’s increasingly being seen as a smart choice for investors.

Likewise, Kharghar and Seawoods remain top choices for discerning buyers. While Seawoods has seen minor price fluctuations, its stature as a premium destination remains intact, with average prices around Rs 18,217 per square foot.

Areas like Taloja and Dronagiri are also gaining popularity among budget-conscious buyers.