Mumbai: Residents of Ulwe woke up to the sound of an aircraft hovering overhead as the first flight took off from Navi Mumbai International Airport (NMIA) on Thursday morning. The moment was met with excitement
and pride as the aircraft passed remarkably close over the node. Ulwe, the nearest node to the newly inaugurated airport, is also one of the fastest-growing areas of Navi Mumbai.
Aircraft flies remarkably close to high-rises
Morning joggers, shop owners, residents, and passersby paused in surprise as a sudden roar filled the air and an aircraft appeared flying remarkably close to the high-rise buildings. Although most residents were aware that commercial operations at the airport had begun on December 25, the unexpected sound drew their attention, leaving them momentarily transfixed as they watched the aircraft overhead.
While some residents remarked that they would eventually get accustomed to the aircraft noise, others expressed concern over losing their peace and facing a rise in rents and property prices. Over the past five years, the newly developed node has witnessed the execution of several mega infrastructure projects, triggering a cascading effect on real estate values and rental rates.
Rail and road connectivity drew residents to Ulwe
In 2018, partial operations of the Nerul/Belapur–Uran railway line began, gradually drawing residents from other parts of Navi Mumbai and Mumbai to Ulwe, attracted by lower rents and ample open spaces. Over the past two years, the Mumbai Trans Harbour Link (Atal Setu) became operational, followed by the full commissioning of the Nerul/Belapur–Uran line. Now, with airport operations began, tenants fear a sharp rise in rents and a tightening housing market.
Many residents living on rent are worried about affordability in the near future. Dinesh Jogi, a resident of Sector 17, Ulwe, said that anticipating this situation, he decided to purchase a home. However, the sudden surge in property prices has made it increasingly difficult for homebuyers to strike deals in the node.
CIDCO homes priced on par with private builders
Even CIDCO, which has constructed over 5,000 homes under the Pradhan Mantri Awas Yojana, is offering units at prices comparable to those of private developers.
Currently, a one-bedroom flat in a G+7-storey new building costs around ₹55 lakh, while resale units are priced between ₹48 lakh and ₹50 lakh. In taller towers of ground plus 13 storeys, the price of a one-bedroom flat goes up to ₹65 lakh. Premium-category homes are priced significantly higher, with two- and three-bedroom apartments ranging from ₹1.5 crore to ₹2 crore.
Manohar Shroff, a developer and former senior member of MCHI Navi Mumbai, said emerging nodes such as Pushpak Nagar may offer relatively affordable housing, with one-bedroom homes priced between ₹45 lakh and ₹50 lakh. “Property prices are likely to rise further. However, most builders in Navi Mumbai have already factored in the airport project,” Shroff said.
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