Navi Mumbai, Noida airports spurring realty boom
However, both are developing at radically different rates, with Jewar's real estate market being far more immature than that of NMIA.
Since the NMIA was first conceptualized in 1997, it has been widely publicized. Two of the project's four phases are projected to be completed in the second half of 2024, giving the communities surrounding Ulwe, including Panel and Nerul, plenty of time to develop in all real estate markets. According to Vivek Rathi, head of research at real estate firm Knight Frank India, "In the 2005–14 cycle, properties were sold in the Navi Mumbai region on account of the airport narrative and people found favor in it."
The Mumbai Trans Harbour Link, suburban rail network lines, and the Virar-Alibaug Multi Modal Corridor are among the connecting infrastructure projects that are being built concurrently and will be completed around the time the airport opens for business.