6 Upcoming Infrastructure Projects In Mumbai Latest News

Infrastructural development is a crucial part of the real estate industry. The steady growth of townships and buildings has greatly fueled the real estate market and the rise in property values. Housing developments with infrastructure features, such as train stations, metros, skywalks, educational facilities, hospitals, and others, tend to attract more prospective buyers.

When the social and civic infrastructure surrounding a property is improved, it indirectly  increases the value of the property. Additionally, it has been observed that home buyers favor areas that have all necessary socio economic infrastructure. And the trend of townships continues with people preferring to have everything under one roof, including schools for children, malls, and markets. For a home buyer, comfort and convenience are top priorities.  People now would live close to a mall, a school, and their workplace. If you are looking to invest in real estate then make sure that your property is surrounded by good infrastructure. 

Following are the top 6 upcoming infrastructure developments that home buyers should look out for while investing in a property-

1- Mumbai Metro

The Mumbai metro is designed to alleviate traffic jams and augment the city's congested train network. When finished, the Mumbai-metro will feature 14 metro lines spanning 350 kilometers. It will significantly improve connectivity and infrastructure. The total cost of the Mumbai Metro project is anticipated to be more than 1.4 lakh crores. Metro lines will majorly cover areas like Andheri West, Colaba, Dahisar, Ghatkopar, Mulund, Thane, Kalyan, Dombivli, Kanjurmarg, Badlapur etc.

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All of these Mumbai metro lines are likely to be finished during the upcoming ten years. This enormous metro project will have a positive impact on both the commercial and residential real estate sector. Offices with good access to main metro lines are more likely to be preferred by employees. This metro project will also benefit large projects like 77 Cross Roads in Ghatkopar and Codename Highway Touch in Andheri.  Metro rail is going to increase demand for both affordable and luxurious housing projects in the residential real estate sector. 

2. Navi- Mumbai International Airport

One of Navi Mumbai's flagship initiatives is the expansive Navi Mumbai International Airport. The D. B. Patil International Airport, also known as Navi Mumbai International Airport, is an airport that is currently under construction in Navi Mumbai, Maharashtra. The project is expected to cost 16,700 crores in total. The construction of the metropolis surrounding this airport will be made possible by it. The Navi Mumbai aerotropolis would develop a whole ecosystem of businesses, retail outlets, institutions of higher learning, and healthcare facilities. The demand for houses will increase when you consider the possibilities that Navi Mumbai airport provides. Kalpataru Park Riviera and Sai Sun City are one of the biggest ongoing projects around this airport. The top-notch infrastructure and seamless connectivity would entice MNCs to locate their operations in Panvel and the surrounding districts. The airport city will also spur some activity in the housing market.

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3. Mumbai Trans Harbour Sea Link

This 21.8 km long bridge between Mumbai and Navi Mumbai is known as the Mumbai Trans-Harbor Sea Link (MTHL for short). The six-lane road bridge is known as India's longest sea bridge and has six lanes. The bridge will start in Sewri, cross Thane Creek to the north of Elephant Island, and end at Chirle village close to Nhava Sheva. The Nhava marine port, the Mumbai-Pune Expressway, and the Mumbai-Goa Highway will all have direct access to it. The sea link will give Panvel's real estate market a major boost. Projects like Godrej Highlands and Siddha Sky will be at the forefront of this housing demand. 

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4. Mumbai-Ahmedabad bullet train corridor

The 650-kilometer bullet train project is part of a high-speed rail route planned to connect Ahmedabad to Pune through Mumbai. The project is expected to cost INR 1.1 lakh crore. The bullet train corridor will run from BKC in Mumbai to Virar, Thane, Boisar, Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad, and Sabarmati.

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The Mumbai-Ahmedabad bullet train line will in many ways increase demand for residential, retail, and commercial real estate. The Kalyan-Shil road, Thane, and Dombivli areas around the bullet train station will grow quickly, fueling the rise in real estate values. In addition to reducing travel time, the bullet train will provide seamless connectivity to these areas. Township projects like Eternia in Thane and Runwal Gardens in Dombivli will see increased demand for affordable homes as a result of the high-speed rail track. These townships provide a wide range of reasonably priced family homes with a variety of top-notch facilities that will enhance your quality of life. 

5. Goregaon Mulund Link Road

Mulund and Goregaon are connected by the 12-kilometer-long Goregaon-Mulund Link Road (GMLR). It will be crucial in decreasing traffic congestion and shortening travel times. At the moment, the trip from Mulund to Goregaon takes 80 minutes. This travel time will be slashed to only 20 minutes once the new GMLR road is operational. For many who travel to the western suburbs on a regular basis for work, this tunnel route will be a huge comfort. This project is expected to cost 6,225 crores. Magnificent projects like Kalpataru Elitus in LBS Marg, Mulund (W) will enjoy close proximity to this tunnel road. 

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6. Coastal Road

The 22-km-long coastline road is a freeway that runs from Kandivli in the north to Marine Lines in the south. This next infrastructure project in Mumbai is expected to cost 12,000 crores. Right now, the trip from the western suburbs to South Mumbai takes around two hours. This journey time will be cut in half to 40 minutes once this road project is operational. 

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The coastal road will be constructed in 2 phases mainly. A 10-km segment of the first phase runs from Princess Street Flyover at Marine lines to BKC. The Versova-Bandra sea link is one of the projects in the second phase. The project is expected to be finished by November 2023.  Other recreational facilities including cycling paths, a sea promenade, outdoor theaters, playgrounds, and much more will be located along this coastal route. Native trees will be planted across the open areas and landscapes will be constructed. Along the lines of this Coastal Road project, other major residential projects are in the works, including Irene in Malad and Lodha Bellevue in Mahalaxmi.

Take away

These much anticipated infrastructural developments would permanently alter how Mumbaikars commute. The real estate industry will get adequate traction thanks to this consistently reliable connectivity. In the coming decade, investing in Mumbai will be a wise choice whether you're an investor or a consumer.