Those directly affected will be offered between $7000 and $8000 noise mitigation per house, including insulation and heat pumps allowing them to have windows closed during summer.
The new runway has been on the drawing board for decades and the final proposal will need a tunnel beneath it for road traffic on George Bolt Memorial Drive. The cut-and-cover tunnel will also provide space for a train track to reach the airport terminal that will link domestic and international operations as part of the "Airport of the Future" plan.
Passenger charges will also increase from 2021 to pay for the new runway work.
A runway charge of $1.29 (excluding GST) per passenger will be imposed from the start of the 2021 financial year once construction of the second runway is confirmed.
The airport company hopes that work on the new 2983m runway can start next year to meet the 2028 deadline, when the southern runway will be at capacity and new flights may have to be turned away.
But there is likely to be opposition to the new plans.
The Auckland Airport Noise Consultation Group will meet the airport next week and lobby group Plane Truth has been concerned about the growing number of aircraft movements and the effect on Auckland residents.
Although the airport says there will be an overnight curfew on the new runway from the east over Papatoetoe, opponents have said noise at any time of the day was disruptive.
The new runway will increase capacity to cope with an expected 40 million people a year through the airport by 2044 - more than double the number of passengers now. It will also provide an alternative if the southern runway is closed by a plane crash or other emergency.
For infrastructure work until 2022, the company has allotted $1.8 billion and has just proposed a new round of aeronautical charges for airlines and passengers to pay for it.
Allocated spending on the new runway during the next five years is $202 million to cover the costs of planning development and civil works. This will increase markedly throughout next decade.
When the original proposal was approved in 2000, the airport expected the runway to be used for domestic aircraft but planning manager Kellie Roland said that has been ''flipped on its head'' in its new master plan.
The new runway has the support of airlines and would be able to handle nearly all long-haul aircraft except fully laden A380 superjumbos heading to the Middle East, which would continue using the southern runway.
Roland said the proposed runway was moved north by 72m to allow code F aircraft such as A380s to use it.
To meet planning requirements, the airport has assessed a number of options for the second runway, including reclaiming land in Manukau Harbour next to the existing one.
This was ruled out on cost and environmental grounds.
The new plan would not require reclamation but would run close to environmentally sensitive upper reaches of the Manukau Harbour, be in an archaeologically sensitive area and could present engineering challenges to avoid moving Watercare's pipes at the eastern end.
During preliminary work almost 10 years ago, which was later stalled as air traffic slowed down, the remains of 88 koiwi or Maori ancestors were unearthed.
This sparked anger among Maori, but Roland says 17 iwi had been consulted and updated on the airport's plans. The company now has agreed protocols in place if koiwi are found.