NAVI MUMBAI THE CITY, THE CHALLENGE & THE CHANGE: VIJAY LAKHANI

In this exclusive conversation, VIJAY LAKHANI, Chairman of Lakhani Group and President of MCHI Navi Mumbai, reflects on the group’s three-decade journey shaping Navi Mumbai’s skyline. From the early days of affordable housing to the rise of luxury on Palm Beach Road, he shares insights into the city’s urban evolution, the challenges developers face, and why Navi Mumbai is poised to become India’s most aspirational destination by 2030.

Lakhani Group has been a part of Navi Mumbai’s growth story for over three decades. Can you walk us through the evolution of the group and what core values continue to drive it today?

Witnessing a city evolve from its foundational stages to a thriving urban expanse is both a privilege and a testament to our journey. At Lakhani Group, we’ve been deeply embedded in this transformation for over twenty-five years. With more than 60 residential and commercial projects delivered across Mumbai, Navi Mumbai, Ulwe, Khopoli, Lonavala, and Pune, our mission has always been to create spaces that are benchmarks in quality and customer satisfaction.

The ethos that drives us is consistency—in value creation, in client trust, and in design innovation. Over time, we’ve evolved into a purpose-led organisation, where every project reflects thoughtful design, strategic planning, and an unwavering commitment to upgrade lifestyles. Today’s demand goes beyond mere construction—urban infrastructure, IT parks, entertainment hubs, and public amenities define how a city lives and breathes. At Lakhani Group, our role is to anticipate that shift and respond with developments that are future ready.

Navi Mumbai has undergone rapid urbanisation in the last decade. How has Lakhani Group adapted to the city’s evolving landscape?

Our relationship with Navi Mumbai is not just professional—it’s deeply personal. We’ve seen this city grow, and in many ways, contributed to its transformation. Unlike Mumbai, where developers often diversify into industries, exports, and other verticals, in Navi Mumbai, real estate is our singular focus. Nearly every developer here is fully invested in building homes and shaping the cityscape.

The geography of Navi Mumbai— from Airoli to New Panvel—offers incredible breadth and flexibility for developers to create across all segments. What truly sets this city apart is the diversity it offers. Whether it’s affordable housing at ₹20–25 lakhs or high-end homes that go up to ₹5–6 crore, Navi Mumbai caters to a full spectrum of homebuyers—from first-time owners to luxury seekers. What makes this even more remarkable is CIDCO’s foundational
planning, which still stands strong today. The city was built with a vision—and that vision continues to receive government support in the form of infrastructure, amenities, and connectivity. We’re proud to say that Navi Mumbai, in terms of choice, planning, and potential, remains unmatched in the region. It’s not just a satellite city anymore—it’s a destination in its own right

What are some of the key challenges that developers currently face in Navi Mumbai, particularly in relation to planning norms and policy mandates?

Navi Mumbai, despite being one of India’s most thoughtfully planned cities, still presents several regulatory challenges that hinder the creation of optimized, aesthetically superior developments. One significant issue developers have raised—particularly through platforms like CREDAI-MCHI—is the applicability of certain statewide mandates that don’t align with the specific realities of Navi Mumbai. For instance, the Inclusive Housing Policy, while important in the broader context of affordable housing across Maharashtra, is somewhat misplaced in Navi Mumbai. That’s because CIDCO, as the planning authority, has already delivered far more inclusive and affordable housing stock than most other cities in the state. Continuing to impose additional quotas on developers for such housing, in areas where the need has already been met, risks disrupting the balance of planned development. It could, in fact, deter the aesthetic and infrastructural ambitions we hold for making Navi Mumbai a smart and beautiful city.

Similarly, the norms regarding recreational ground (RG) allocations pose practical difficulties. CIDCO has already earmarked and developed expansive RG zones in every sector and node across Navi Mumbai—gardens, parks, and open spaces have been built as part of a master plan. Re-imposing RG obligations within private developments—especially in redevelopment projects—creates unnecessary congestion. Developers are required to construct not only for existing residents but also additional sale components, and when 20% of the land must be carved out for RG despite public grounds already existing nearby, it restricts our ability to design spacious, well-ventilated layouts. The end result is compromised design and constrained project vision.

We’ve submitted representations to the government and CIDCO through CREDAI-MCHI, urging them to reconsider these provisions and allow more flexibility in cases where the city’s master planning already accommodates public infrastructure. Our request is simple: give us the margin to build beautiful, efficient, and world-class projects without duplicative restrictions. Navi Mumbai has the potential to be a benchmark city—not just in planning, but in execution—and that requires a collaborative policy environment.

“By 2030, I believe Navi Mumbai will no longer be seen as a satellite city—it will be one of India’s most desirable urban destinations, with world-class connectivity, sustainable planning, and a superior quality of life.”

There’s often a limited perception of Navi Mumbai’s geography and potential. From your perspective, how has the region evolved beyond Vashi, and which corridors are now emerging as the city’s new growth and luxury hotspots?

There’s a common misconception among many that Navi Mumbai begins and ends with Vashi. That’s far from reality. The city stretches from Airoli to Ghansoli, Koparkhairane, Vashi, Sanpada, Nerul, CBD Belapur, and further down to Kalamboli, Kamothe, and New Panvel. Each of these nodes has its own distinct market segment— ranging from budget-friendly flats to premium residences.

One of the most transformational developments in Navi Mumbai has undoubtedly been Palm Beach Road. It has redefined the luxury housing narrative in the region. Since its inception, Palm Beach has attracted a new class of homebuyers looking for high-end properties, and the demand here has only continued to grow. What’s even more promising is that CIDCO is now planning to extend Palm Beach Road all the way from Koparkhairane to Ulwe. This expansion will dramatically elevate the profile and value of all the areas along this extended stretch. We’re expecting property prices in these belts to match, if not surpass, those in some of Mumbai’s most premium addresses.

Palm Beach, which currently stretches from Vashi to CBD Belapur, is already among the most expensive and aspirational parts of Navi Mumbai. With the extension in the pipeline, this entire corridor is set to become the epicentre of high-budget development. That said, Navi Mumbai still offers a variety of options—there are affordable segments thriving alongside the luxury market, and the breadth of choices available here is unmatched. It’s fair to say that all eyes are on Navi Mumbai now, and for good reason.

When evaluating Navi Mumbai’s evolving landscape—be it retail, commercial, or residential—what, in your view, stands out as the city’s most promising proposition? Is fair housing still the stronger opportunity, or is commercial growth catching up?

Housing will always be a basic human need—everyone requires a home. But alongside that, commercial space is equally vital as it forms the foundation for livelihoods. In Navi Mumbai, we’ve noticed an increasing trend where people are looking to secure office spaces near their residences. There’s a rising sentiment among professionals who, even as they approach retirement, want to remain productive. They often consider launching consultancies, setting up private practices, or venturing into entrepreneurship. For them, having a workplace close to home is a priority.

This behaviour has fuelled steady growth in commercial real estate. Over the past few years, we’ve witnessed a significant uptick in demand for commercial buildings, and the trend shows no signs of slowing down. Today, Navi Mumbai is experiencing a dual wave—residential demand remains strong, but the commercial segment is also thriving. Both sectors are developing in parallel, and that balance is what sets Navi Mumbai apart. It’s no longer a question of either or—both residential and commercial segments here are moving confidently in the right direction.

Where do you see the Navi Mumbai real estate market heading by 2030—and where do you envision the Lakhani Group in that future?

Navi Mumbai is on the cusp of a transformative decade. With major infrastructure developments like the Navi Mumbai International Airport, the extension of the Palm Beach Road, metro rail connectivity, and the Mumbai Trans Harbour Link, the city is being redefined. These projects are not just improving mobility—they’re expanding the economic and aspirational boundaries of the region.

By 2030, I believe Navi Mumbai will no longer be seen as a satellite city—it will be one of India’s most desirable urban destinations, with world-class connectivity, sustainable planning, and a superior quality of life. We’re seeing a shift where people are choosing to move here not just for affordability but for lifestyle. It’s already happening, and this momentum will only intensify over the next five years.

As for the Lakhani Group, we’ve always positioned ourselves at the intersection of trust, quality, and foresight. Our legacy over the past 30 years has been built on creating spaces that resonate with the aspirations of homebuyers. Going forward, we aim to be part of Navi Mumbai’s growth story not just as builders, but as placemakers—developing landmark projects that align with the city’s smart, sustainable, and inclusive future.