P
ilot Daniel Pinto recently invested ₹4 crore in a luxury villa near the upcoming Navi Mumbai International Airport (NMIA), anticipating a surge in property prices once the airport becomes operational. With NMIA set to open within two months, pilots and aviation professionals are increasingly interested in nearby plots and villas as an investment opportunity. Local developers report a growing number of pilots, especially those nearing retirement, seeking long-term investments in the area.

    The appeal goes beyond convenience, with many aviation professionals having witnessed sharp rises in property values around Mumbai's current airport hubs. Ashok Chhajer, CMD of Arihant Superstructures, noted that his villa project in Chouk has seen interest from pilots and aviation professionals due to its proximity to NMIA and competitive pricing.

    Pinto believes the Navi Mumbai Airport presents an opportunity for his son, also a pilot, to live close by if future flights operate from there. Developers note that the airport's strategic location, roughly equidistant from Mumbai and Pune, is attracting investors from West Pune. Raajesh Prajapati, founder president of Maharashtra Chamber of Housing Industry-Confederation of Real Estate Developers' Associations of India, Raigad, expects more trends to emerge as the airport becomes operational.

    Land in Chouk starts at ₹4,000 per sq ft, with ready-to-move luxury villas available for around ₹10,000 to ₹11,000 per sq ft. Operations at Navi Mumbai Airport are expected to begin after May 15, according to a report by Hindustan Times.