Navi Mumbai’s Airoli Sees Real Estate Surge Driven by Infrastructure Upgrades, 185,000 Units Expected by 2030: Liases Foras
Navi Mumbai’s Airoli Sees Real Estate Surge Driven by Infrastructure Upgrades, 185,000 Units Expected by 2030: Liases Foras.
The residential real estate market in the Navi Mumbai region is experiencing a significant upswing, largely driven by ongoing infrastructure projects. According to a report by Liases Foras, a real estate consultancy, it is projected that the annual housing stock in the Airoli area will exceed 1.85 lakh units by the year 2030.
This growth is linked to several factors, including excellent connectivity, competitive and affordable property prices, proximity to key business centers, and easy access to essential social amenities.
At present, the housing market surrounding Airoli boasts over 1,100 active projects, with a total supply of around 1.94 lakh units. Approximately 51 percent of these units have been sold, leaving about 96,700 units available for potential buyers this year.
Additionally, the report highlights a 50 percent increase in annual housing inventory, which grew from 64,500 units in Q2 FY2020-21 to 96,700 units in Q2 FY2024-25, and a 16 percent increase from 83,500 units in Q2 FY2022-23.
In response to the post-COVID environment and the increasing demand from a growing population, it is expected that the market will experience an average compound annual growth rate (CAGR) of 13.5 percent over the next five years, ultimately achieving an annual housing stock of more than 185,000 units by 2030, as indicated in the report.
It was mentioned that significant infrastructure projects, such as the under-construction Airoli-Katai Naka freeway, the proposed Ghansoli Airoli Palm Beach extension, the Vikhroli-Badlapur metro line, the Navi Mumbai airport, the upcoming Goregaon-Mulund link road, and the proposed Kalwa-Airoli elevated rail corridor, are expected to boost the real estate market in and around Airoli, Navi Mumbai significantly.
Pankaj Kapoor, Managing Director of Liases Foras, stated that the area surrounding Airoli is a treasure trove for homebuyers, investors, and businesses, as the housing supply is projected to nearly double to 1.85 lakh units by 2030. Additionally, with seamless connectivity that reduces travel time to key business centers by 30-40 percent and the new Navi Mumbai International Airport, Airoli is set to become a prime location and a key growth engine for Navi Mumbai.
In terms of affordability, 1 BHK units start at Rs 34 lakhs, with an average price of Rs 67 lakhs, while 2 BHK units average around Rs 1.3 crore. This makes the neighborhoods in Navi Mumbai’s Airoli a balanced option between upscale and luxury areas like Ghatkopar, Vashi, and Mulund, as well as more budget-friendly options such as Thane, Kalyan, Dombivli, and Ulhasnagar.
According to the report, Airoli in Navi Mumbai is positioned at the heart of a thriving area, thanks to its efficient infrastructure improvements, well-established social facilities, plentiful housing options, and an expanding business environment. This combination gives Airoli the potential to become one of the leading business districts in the Mumbai Metropolitan Region.
