Airoli’s Real Estate Boom: Housing Stock to Double by 2030, Driven by Infrastructure Growth

The residential real estate market in Navi Mumbai, especially in the Airoli area, is growing rapidly due to ongoing infrastructure projects. A report by Liases Foras, a real estate consultancy, predicts that by 2030, Airoli will have over 1.85 lakh housing units available annually.

This growth is driven by factors like good connectivity, affordable property prices, closeness to key business hubs, and access to social amenities.

Currently, Airoli’s housing market has over 1,100 active projects with a total supply of around 1.94 lakh units. Out of these, about 51% have been sold, leaving approximately 96,700 units available for buyers this year.

The report also notes that the annual housing inventory has grown by 50% over the last few years, increasing from 64,500 units in Q2 FY2020-21 to 96,700 units in Q2 FY2024-25. This is a 16% increase compared to 83,500 units in Q2 FY2022-23.

As demand continues to rise post-COVID and the population grows, the market is expected to expand further. Over the next five years, an average annual growth rate of 13.5% is projected, with Airoli’s housing stock expected to surpass 1.85 lakh units by 2030.

Major infrastructure projects like the Airoli-Katai Naka freeway, the Ghansoli-Airoli Palm Beach extension, the Vikhroli-Badlapur metro line, the Navi Mumbai International Airport, the Goregaon-Mulund link road, and the Kalwa-Airoli elevated rail corridor are all set to enhance the area’s real estate appeal.

Pankaj Kapoor, Managing Director of Liases Foras, described Airoli as a goldmine for homebuyers, investors, and businesses. He highlighted that the housing supply is expected to double by 2030, and improved connectivity will cut travel time to key business centers by 30-40%. With the addition of the Navi Mumbai International Airport, Airoli is becoming a prime location and a key growth driver for Navi Mumbai.

In terms of cost, 1 BHK apartments in Airoli start at Rs 34 lakhs, with an average price of Rs 67 lakhs. Meanwhile, 2 BHK apartments average around Rs 1.3 crore. This makes Airoli a middle ground between upscale neighborhoods like Ghatkopar, Vashi, and Mulund, and budget-friendly areas like Thane, Kalyan, Dombivli, and Ulhasnagar.

The report concludes that Airoli’s strong infrastructure, quality social facilities, ample housing options, and growing business opportunities make it a rising star in Navi Mumbai. It has the potential to become one of the top business districts in the Mumbai Metropolitan Region.