Everything You Need To Know About The Navi Mumbai International Airport
The Navi Mumbai International Airport Limited is currently building the Loknete DB Patil Navi Mumbai International Airport, formerly known as the Navi Mumbai International Airport (NMIAL). Four phases of the massive project are planned to accommodate more than 60 million passengers annually. Continue reading to learn more about the development.
On February 18, 2018, Indian Prime Minister Narendra Modi laid the cornerstone for the long overdue Greenfield project, Navi Mumbai International Airport. After a number of difficulties, site preparation activities, including hill levelling and Ulwe River diversion works, were carried out in the early months of 2021. East of Mumbai, in the Raigad District, the project site is about 18 km from Ulwe and Panvel.
It will be connected to the current Chhatrapati Shivaji Maharaj International Airport by the 767-kilometer-long, under-construction Mumbai-Hyderabad High-Speed Rail Line.
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Details of the project at Navi Mumbai International Airport
2018 saw the appointment of the City and Industrial Development Corporation of Maharashtra (CIDCO) as the principal contractor for the construction of the Navi Mumbai International Airport. The DBFOT Model—a design, build, finance, operate, and transfer agreement—was adopted by the authority to carry out the project in a public-private partnership. By 2032, the airport will have been built in four phases.It will be connected to the current Chhatrapati Shivaji Maharaj International Airport by the 767-kilometer-long, under-construction Mumbai-Hyderabad High-Speed Rail Line.
Details of the project at Navi Mumbai International Airport
2018 saw the appointment of the City and Industrial Development Corporation of Maharashtra (CIDCO) as the principal contractor for the construction of the Navi Mumbai International Airport. The DBFOT Model—a design, build, finance, operate, and transfer agreement—was adopted by the authority to carry out the project in a public-private partnership. By 2032, the airport will have been built in four phases.
Around 2,860 acres are thought to be the airport’s total land area. The first stage of the project will involve building two runways that can accommodate 80 flights per hour. In December 2020, the project was supposed to start operating. However, it was delayed for a number of reasons, including lockdowns brought on by COVID-19, local protests, and delays in land acquisition and financial closure.
Navi Mumbai Airport’s state today
In 2021, the Adani Group bought a majority stake in the Navi Mumbai International Airport. Following this, the nodal agency gave the Adani Group the land in June 2022 to begin building the terminal and runway.
The first phase’s construction contract was given to Larsen and Toubro. The contract covers cut and fill work, terminal building work, such as building departure and arrival forecourts, airfield development work. Which includes building a 3,700-meter-long runway, apron systems, taxiway systems, airfield ground lighting, and other facilities. Such as multi-level parking, utilities, and supporting infrastructure.
The project is on track to finish Phase 1 by its deadline of December 2024. An estimated Rs 16,700 crore will go toward the entire greenfield project.
Connections at Navi Mumbai International Airport
The 21 km, six-lane Mumbai Trans Harbour Link (MTHL). Being built by Larsen and Toubro-IHI Consortium and Tata Projects Ltd. will connect the airport. Which is located on National Highway 4B, to Mumbai. The Navi Mumbai International Airport facility. Which is being built in four phases. Will have two 3,700-meter-long and 60-meter-wide runways that are 1.55 km apart and can accommodate more than 10 million passengers annually after the first phase is complete. 25 million passengers annually in the second phase, and 60 million passengers annually by 2032. Pune will also have a connection to the Navi Mumbai International Airport. This will improve Navi Mumbai’s connectivity and real estate market even more.
Real estate market effects
To ease the strain on Mumbai’s current international airport, the concept of a second airport was put forth. Additionally, Navi Mumbai is one of the most planned cities in the nation and has a large supply of available land parcels. As a result, it was the best option for a global airport. However, because the proposed airport site is entirely within the Coastal Regulation Zone (CRZ). The initial environmental and legal challenges posed a significant delay. However, the majority of the development near Navi Mumbai will be greenfield since the project is currently on schedule. The development of infrastructure, such as broad roads, footpaths, efficient drainage systems, and sewage systems, will also be planned.
Market Effects
There will also be an aerocity surrounding the Navi Mumbai International Airport. As a result, the Panvel and Ulwe areas of Navi Mumbai’s real estate will gain the most from the airport. Panvel and Ulwe have grown by more than 6% and 4%, respectively, since the project was announced in 2018. Additionally, there is a chance that prices will rise an additional 10 to 15 percent in the future. Multinational corporations (MNCs) and startups will be encouraged to establish offices in the surrounding areas. Such as Kamothe, Kharghar, and Taloja, by improving infrastructure and facilitating smooth connectivity from the airport to other areas of the city.
In general, the positive changes near the international airport will spur demand in the residential sector. People, including immigrants, are moving to nearby suburbs in increasing numbers in search of better employment prospects and quality of life. As a result, residential properties in Navi Mumbai would be in high demand, both for affordable and opulent options.
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