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₹10,000 cr Adani township coming up near Navi Mumbai Airport. Details

Adani Realty is preparing to roll out its most ambitious real estate venture to date — a township project next to the upcoming Navi Mumbai International Airport, which is also being developed by the Adani Group. The project will cover more than 1,000 acres, making it Adani's largest real estate development so far, according to a Mint report citing sources. A township twice the size of Dharavi redevelopment The Panvel-based township will be nearly double the size of the group's 600-acre Dharavi redevelopment project in Mumbai. Spanning over a decade of phased construction, the mega township is set to transform Navi Mumbai's real estate scene. Inspired by Shantigram — Adani Realty's flagship township in Ahmedabad launched in 2010 — the Navi Mumbai project, currently referred to as Adani Panvel, is being designed as a next-generation version of that landmark development. 'Given the size and scale of the Navi Mumbai township, the estimated investment will be double that of Shantigram, at over ₹10,000 crore. Right now, the project is referred to as Adani Panvel, but the name and format are inspired by Shantigram,' a source told Mint. Launch strategy in motion Although the official launch is expected after the inauguration of the Navi Mumbai International Airport, groundwork is already underway. 'The sales office is ready. The company is keen to create a buzz at the start and is deliberating on what kinds of products, apartments or plots, should be first launched. The project launch will happen only after the airport inauguration,' another source revealed. Ahead of the public debut, Adani Realty is focused on securing all necessary regulatory approvals and building essential infrastructure. This includes a new access road to connect the township directly to the nearby expressway for better accessibility. Also Read: Adani Green's solar project in Andhra Pradesh gets regulatory clarity A decade of aggressive expansion Adani Realty entered the real estate space about 15 years ago. Initially part of Adani Enterprises Ltd, the realty business now operates under the Adani Realty brand via Adani Properties. In recent years, the company has ramped up its presence in the real estate sector, capitalising on India's booming housing demand. Last year, it launched 9 PBR, a premium residential project in Nerul, Navi Mumbai, featuring nine high-rises along Palm Beach Road. According to a Mint report in April 2024, Adani Realty's portfolio has crossed 200 million square feet, with 130 million square feet earmarked for future development. The company is also making its mark in Mumbai's high-stakes redevelopment market. It recently became the top bidder, alongside MHADA, for the ₹36,000 crore Motilal Nagar redevelopment in Goregaon. In another major acquisition, an Adani subsidiary purchased a prime 1.1-acre plot on South Mumbai's Carmichael Road for over ₹170 crore. Specialising in large-scale, residential-led projects, Adani Realty sees the Navi Mumbai township as a significant evolution from Shantigram. 'Having established itself as a real estate brand, it can command a pricing premium over other projects,' a source added. Navi Mumbai: New real estate frontier Navi Mumbai's property market is experiencing a transformation, fuelled by massive infrastructure developments. Besides the new international airport, the 22-km Mumbai Trans Harbour Link — connecting Mumbai and Navi Mumbai — is expected to boost real estate values in the region. The airport itself is being developed by Navi Mumbai International Airport Ltd, a joint venture between Adani Airport Holdings Ltd and Cidco, with Adani holding a 74 per cent stake. Experts are optimistic about the growth potential. 'There is growing demand for premium housing in the area,' said Ankit Talreja, city lead for Navi Mumbai at Anarock Group. 'The demand is largely from residents of Navi Mumbai who want to upgrade to better homes, and projects by branded developers,' he added. Niranjan Hiranandani, chairman of Hiranandani Group, echoed this sentiment. 'The city's centre of gravity is set to shift with the opening of the new airport. The Noida airport may have a slower impact, but the Navi Mumbai airport will be impactful the day it starts.' Top developers join the rush Other leading developers are also lining up projects in Navi Mumbai. K Raheja Corp Homes is gearing up to launch a five-tower residential project in Juinagar, while Godrej Properties recently acquired three land parcels totaling 6.5 acres in Kharghar for ₹717 crore to develop high-end homes. According to JLL India, Navi Mumbai witnessed 24 land deals covering 368 acres between January 2023 and March 2025, with top developers actively expanding in the region. 'Given the kind of infrastructure development in the area, we expect huge demand for residential projects. Despite the demand for land, prices continue to be more reasonable compared to MMR. The government is also positioning Navi Mumbai as the 'Third Mumbai', so there is a lot of momentum right now,' said Shankar Arumugham, head of government advisory and solutions, India at JLL.