PANVEL- Adani Realty is preparing to launch its most ambitious real estate project to date—a township development adjacent to the upcoming Navi Mumbai International Airport (NMI).
The project will span more than 1,000 acres, making it the company’s largest real estate venture, according to a Mint report citing industry sources.
Photo: Navi Mumbai International AirportAdani Panvel Township
The Panvel-based township will be nearly twice the size of the group’s 600-acre Dharavi redevelopment project in Mumbai. This mega township will require over a decade of phased construction and aims to transform the Navi Mumbai real estate landscape.
The development takes inspiration from Shantigram, Adani Realty’s flagship township in Ahmedabad, launched in 2010. Currently referred to as Adani Panvel, the new project represents an enhanced 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.”
Source told Mint
Photo: DronemanLaunch Preparations
While the official launch awaits the inauguration of the Navi Mumbai International Airport (NMI), preliminary work has already begun on the township project.
“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.
Adani Realty currently focuses on securing regulatory approvals and developing essential infrastructure, including a new access road connecting the township directly to the nearby expressway to improve accessibility.
Photo: Compounded by Aviation A2Z, Credits- Aneesh BapayeAdani’s Real Estate Growth Strategy
Adani Realty entered the real estate sector approximately 15 years ago. Initially operating as part of Adani Enterprises Ltd, the real estate division now functions under the Adani Realty brand through Adani Properties.
According to a Mint report from April 2024, Adani Realty’s portfolio now exceeds 200 million square feet, with 130 million square feet designated for future development.
The company has also expanded into Mumbai’s redevelopment market. It recently emerged as the top bidder, alongside MHADA, for the ₹36,000 crore Motilal Nagar redevelopment in Goregaon. Additionally, an Adani subsidiary acquired a prime 1.1-acre plot on South Mumbai’s Carmichael Road for over ₹170 crore.
Photo: DronemanReal Estate Transformation
Navi Mumbai’s property market is experiencing substantial growth driven by major infrastructure developments. Beyond the new international airport, the recently completed 22-km Mumbai Trans Harbour Link—connecting Mumbai and Navi Mumbai—is expected to boost property values throughout 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.
Real estate experts express optimism about the area’s growth potential. “There is growing demand for premium housing in the area,” said Ankit Talreja, city lead for Navi Mumbai at Anarock Group.
“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.”
Niranjan Hiranandani, Chairman, Hiranandani Group
Photo: Noida International AirportCompetition Intensifies Among Major Developers
Other leading developers are also launching projects in Navi Mumbai. K Raheja Corp Homes plans to develop a five-tower residential project in Juinagar, while Godrej Properties recently acquired three land parcels totalling 6.5 acres in Kharghar for ₹717 crore to build high-end homes.
According to JLL India, Navi Mumbai saw 24 land deals covering 368 acres between January 2023 and March 2025, with major developers actively expanding their presence 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.”
Shankar Arumugham, Head of Government Advisory and Solutions, India at JLL
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Navi Mumbai International Airport Inauguration in June 2025: Gautam Adani
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