How Navi Mumbai Aerotropolis Will Create Demand For Housing?
Last Updated on, September 29th, 2022
From good connectivity to rapid commercialization, Panvel delivers all facilities that make life good. It is an undisputed hotspot as far as the real estate development in Navi Mumbai is concerned. The area is set for the biggest infrastructure boost – the airport city surrounding the upcoming Navi Mumbai International Airport.
The Aerotropolis project will bolster the economy and create lakhs of direct and indirect jobs in Navi Mumbai. The biggest beneficiary of this project is the real estate market of Panvel and other neighbouring areas of Navi Mumbai.
Read this article to understand the concept of aerotropolis in detail and how it will shape the future of Navi Mumbai’s real estate.
Growth of Airway Industry in India
In India, the airway industry has witnessed phenomenal growth in the last 2 decades. An increase in airports has led to major regional and infrastructure development.
This growth in the footfall at the airport can tell you a lot about how the city is progressing in terms of tourism growth and economic activities. This modern phenomenon of dependency on the airport for a city’s growth is the beginning of the concept of aerotropolis.
What Is Aerotropolis?
Earlier, airports were built inside cities, but today, metropolitan cities are being built in proximity to airports. In simple words, aerotropolis is the development of the metropolitan area developed around the airport. It is an airport-based city.
From financial services and corporate offices to residential, entertainment centres and hospitals, schools, hotels, malls and much more, an aerocity accommodates a range of activities and facilities.
Dubai has the world’s largest aerotropolis. The concept of Aerotropolis is also prevalent in Europe, Asia and the Middle East. In all these regions, aerotroplis has been the catalyst for promoting real estate and economic growth.
How Will Navi Mumbai Aerotropolis Shape Its Real Estate Sector?
The Navi Mumbai International Airport will bring the biggest change to Panvel. Airport cities attract people from all walks of life. Even the Navi Mumbai aereotropolis will create an entire ecosystem with commercial spaces, shops, educational centres and medical centres coming up to serve the needs of people.
When you look at the potential that the Navi Mumbai aerotropolis will offer, it will drive the demand for housing. The world-class infrastructure coupled with smooth connectivity will encourage MNCs to set up their offices around Panvel and neighbouring areas. The airport city will also trigger some activity in the residential segment as well.
The best part is since most of the development will be greenfield, the infrastructure will come up in a planned way as per the city development plan, which means wide roads, good footpaths, good drainage and sewage systems – it will be a massive upgrade on the congested areas of Mumbai city.
The demand for township projects like Marathon Nexzone will soon hit the roof! Marathon Nexzone is the finest township at Panvel offering affordable and ultra-luxurious flats with valley views. It has 1, 2, and 2.5 BHK homes with open spaces and recreational amenities like a swimming pool, clubhouse, gymnasium, and jogging track. Guess what? It is 10 mins away from the Navi Mumbai aerotropolis. Hence, when you stay at Nexzone, you stay in the middle of this one-of-a-kind infrastructure development in India.
The construction of the Navi Mumbai aerocity will be done in 4 phases. The City and Industrial Development Corporation of Maharashtra (CIDCO) has finalized a concept plan to develop 400 lakh square feet of space, including roads, metro lines, and residential and commercial spaces.
The aerocity will have a central command-and-control operation for managing all the utilities. Roads will not be dug and the utilities will be laid through tunnels. The land acquisition for this project is complete.
As of June 2022, CIDCO has landed over the 2,866 acres of land to Adani Enterprises. The work is proceeding as per the scheduled timelines and the project seems on track.
The proposed development of aerotropolis around Panvel is a forward-thinking idea that will promote ecosystem growth and improve the quality of life. Once operational, it may well be one of the most sought-after neighbourhoods. Hence, buying a home today at Marathon Nexzone, Panvel can be the best bang for the buck.
Marathon Group is a 52 year old real estate builder that has completed over 80 projects in the city. The Group has a wide portfolio of projects across affordable housing, luxury housing, townships, commercial spaces and retail spaces and has a presence in Mulund, Bhandup, Panvel, Dombivli, Kalyan-Shil, Byculla and Lower Parel.
Marathon Nextown is part of the Nex series of projects by Marathon – township projects in fast-growing regions of Mumbai Metropolitan Region (MMR). The group has launched townships at Badlapur, Dombivli, Kalyan-Shil and Panvel.
To learn more about Marathon’s projects visit marathon.in