Summary of this article
Navi Mumbai demand rises 44 per cent
Infrastructure projects boost housing activity
Affordable homes dominate buyer searches
Mumbai has always been a state with high activity in the real estate market; certain micro-markets have outperformed with increasing rates to nearly 50 per cent. In recent data released by 99acres, Navi Mumbai has experienced a sharp rise in buyer interest. This rise can be attributed to large-scale infrastructure. Housing demand in the area has surged by 44 per cent on a year-on-year (YoY) basis, during the January to March period. This also highlights the growing confidence among homebuyers and investors.
The report indicates that areas such as Vashi-Belapur, Airoli-Ghansoli, Panvel and Ulwe-Uran are emerging as some of the most sought-after residential areas among homebuyers. Among these, Vashi-Belapur and Airoli-Ghansoli have recorded the highest jump, by recording nearly 55 per cent. This jump reflects a strong demand in both established and rapidly developing areas of the region.
“Price trends further underline this momentum. Vashi–Belapur (Rs 26,530 per square feet), Airoli–Ghansoli (Rs 19,390 per square feet), and Kharghar (Rs 15,629 per square feet) remain the most premium markets, while Kharghar (11 per cent), Airoli–Ghansoli (10 per cent), and Taloja (5 per cent) are leading in annual price appreciation, signalling investment potential beyond core areas,” says Anurag Jagati, EVP, Marketing, 99acres.
This growth can be attributed to infrastructure; the upcoming Navi Mumbai International Airport, Mumbai Trans Harbour Link, and metro rail expansion have significantly improved connectivity in the dense market of Mumbai. These projects have enhanced the attractiveness of the above-mentioned peripheral locations.
Jagati also highlights that affordability can be another contributor to this sudden surge. “On the demand side, affordability continues to drive activity, with properties under Rs 50 lakh and in the Rs 1 to Rs 5 crore segments dominating searches. The sub Rs 50 lakh affordable category has witnessed significant growth at 14 per cent YoY. Overall, the data points to a well-balanced market where infrastructure-led expansion, price appreciation, and sustained end-user demand are collectively shaping Navi Mumbai’s growth trajectory.”
On the configuration basis, 1BHK and 2BHK apartments continue the residential demand in Navi Mumbai. The demand for 1BHK units has increased by 13 per cent annually. Whereas, the demand for 2BHK homes stood at 12 per cent. This indicated a growing interest from first-time buyers, young professionals, and investors who want to pay a small entry price into the real estate market.
“The Mumbai market continues to show strong resilience and long-term growth potential, supported by strong demand, infrastructure expansion and continued investor confidence. The city continues to be one of the most dynamic real estate destinations in India with premium residential projects and commercial and mixed-use spaces,” highlights Ravi Kant, co-founder, Elegance Enterprises and Infra.
