Adani Group’s real estate arm Adani Realty, is eyeing to launch its largest township project, spanning over 1,000 acres of land, near its newly built international airport in Navi Mumbai. The township will be almost double the size of Adani Group’s 600-acre Dharavi redevelopment project and is expected to be complete in the coming ten years, the Mint reported.
“Given the size and scale of the Navi Mumbai township, the estimated investment will be double that of Shantigram, at over Rs 10,000 crore. 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,” the Mint reported, citing sources.
The project reportedly has to receive some mandatory clearances ahead of the launch. Besides this, some infrastructure-related work, including a connecting road, will also be required to be completed.
The development is part of Adani Realty’s aggressive expansion in the 15 years since the Adani Group’s debut in the sector. Initially, Adani Realty was part of Adani Group’s flagship firm, Adani Enterprises, and later was housed under Adani Properties.
This comes at a time when the billionaire Gautam Adani-led Adani Group is set to inaugurate the Navi Mumbai International Airport (NMIAL) in June this year. NMIAL is the second largest aviation infrastructure in the Mumbai Metropolitan Region (MMR) after Chhatrapati Shivaji Maharaj International Airport. The group had initially planned to launch the airport in April and kickstart its domestic commercial operations in May.
“Visited the Navi Mumbai International Airport site today—a world-class airport taking shape. Set for inauguration this June, it will redefine connectivity & growth,” said the Adani Group chairman in a post on X on March 16.
NMIAL is a 74:26 joint venture between Adani Airport Holdings (AAHL) and the City and Industrial Development Corporation of Maharashtra (CIDCO). The airport will have four terminals and two runways.
