The 16,700-crore project which was overdue from past 21-year was planned in 1997 to meet the growing needs of Mumbai.
The new airport which is expected to ease the load of the congested Mumbai airport will become functional in 2019.
The Navi Mumbai will have two parallel runways and will handle at least 80 flights in an hour.
The City Industrial Development Corporation (Cidco) is developing the new airport along with GVK Group.
Union Minister Nitin Gadkari, Maharashtra Chief Minister Devendra Fadnavis, Governor of Maharashtra C. Vidyasagar Rao were also present here on the occasion. (ANI)