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Navi Mumbai International Airport (NMIAL) has secured accommodation for its personnel by entering into an agreement with Wadhwa Group to take 405 ready-to-move-in flats at Panvel in the Mumbai Metropolitan Region. The arrangement, made under a leave and licence agreement, ensures residential facilities for employees and their families as the airport prepares for inauguration in the coming weeks. The move reflects growing housing demand in the region ahead of the airport's operational launch.
Navi Mumbai International Airport (NMIAL) has finalised an arrangement to provide housing facilities for its staff by taking 405 flats in Panvel from the Wadhwa Group. The housing units are part of Wadhwa Wise City, a large township in the Mumbai Metropolitan Region. The flats have been taken on a leave and licence basis and are meant to accommodate airport personnel and their families. Advertisement
The agreement was formalised through a Memorandum of Understanding signed between NMIAL and the Wadhwa Group. The residential facilities will be available from October 2025 onwards, aligning with the airport's operational plans.
A leave and licence arrangement is a contractual framework wherein the property owner grants temporary usage rights without transferring ownership. This structure ensures flexibility for NMIAL while addressing immediate housing requirements for employees associated with the new international airport.
Sandeep Sonthalia, Chief Executive Officer of the Wadhwa Group, expressed that the launch of Navi Mumbai International Airport marked a significant milestone for the region. He noted that the company had observed growing demand for homes, bungalows, and plots, and mentioned that the partnership with NMIAL would cater to this need.
The Wadhwa Group has previously undertaken numerous housing and commercial developments across the Mumbai Metropolitan Region and has been positioning itself to benefit from the economic activity expected around the new airport.
By entering into a housing arrangement with Wadhwa Group, NMIAL has ensured that essential residential facilities are in place for its workforce and their families ahead of the airport's opening. The deal highlights the increasing real estate activity in Panvel and adjoining areas as the airport project nears completion. Industry observers view such collaborations as instrumental in addressing the infrastructural needs linked to large-scale urban developments.
Source - PTI
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