Ahead of Airport Launch, Adani Realty Prepares India’s Next Smart City in Panvel

Adani Realty is gearing up to launch its most expansive real estate initiative yet, a township project located adjacent to the under-construction Navi Mumbai International Airport (NMI). Spanning over 1,000 acres, this upcoming development will be the largest venture by the company to date, significantly surpassing the scale of its ongoing 600-acre Dharavi redevelopment in Mumbai. Set in Panvel, the township is expected to be built over several phases, taking more than a decade to complete, and is poised to reshape the Navi Mumbai property landscape.

Inspired by Adani Realty’s flagship project, Shantigram in Ahmedabad, which was introduced in 2010, this new township-currently referred to as Adani Panvel-will be a larger and more refined version of that development. Even though the project’s official launch is being set to coincide with the opening of Navi Mumbai International Airport, preparations are already under way. Early groundwork has commenced, including the setup of a dedicated sales office. The company is currently evaluating which housing formats or plot types to introduce first, aiming to generate significant initial interest.

At the same time, Adani Realty is focusing on securing key regulatory approvals and building critical infrastructure, such as a new access road that will link the township directly to a nearby expressway, enhancing overall connectivity. Adani Realty began operating in the real estate industry around 15 years ago and has since expanded significantly. With approximately 200 million square feet under its management and over 130 million square feet set aside for future expansion, the brand is currently operated under the Adani Properties umbrella.

The firm has also made notable moves in Mumbai’s redevelopment segment. It was recently declared the top bidder, alongside MHADA, for the ₹36,000 crore Motilal Nagar project in Goregaon, and acquired a valuable 1.1-acre plot on Carmichael Road for over ₹170 crore through a group subsidiary. Navi Mumbai’s real estate market is witnessing a sharp rise in activity and demand, bolstered by key infrastructure projects like the 22-kilometre Mumbai Trans Harbour Link and the international airport, both of which are expected to push property values higher.

Adani Airport Holdings Ltd. and CIDCO are partners in Navi Mumbai International Airport Ltd., which is developing the airport. Adani owns a 74% share in the joint venture. Industry experts note a rising appetite for premium residential options in the area. Meanwhile, other major players like K Raheja Corp Homes and Godrej Properties are also expanding their footprint in Navi Mumbai, underlining the growing competitiveness in the region’s booming real estate market.