ESCALATING EVOLUTION: from ISLAND CITY TO INFRA HOTSPOT
Its true aspects like infrastructure and connectivity are the 2 vital factors that unswervingly influence the cities property markets. The physical infrastructure has gotten a major renovation by the Indian government, the opportunity and scope for other expansions and progresses around the area also multiplies manifolds. A perfect example supporting the above-mentioned developments would be the expanding and notable infrastructure developments dominating the realty scene in Mumbai. The ever-escalating realty enhancements taking place in Mumbai surely marks the beginning of a novel revolution era taking place here.
The below mentioned dynamic factors like the rapid infrastructure development and easy connectivity with the city have all majorly transformed the island city into an infrastructure hotspot.
Mumbai Metro:
Mumbai’s demographic profile has gradually begun assuming a rising curve, all thanks to the superior infrastructure upheavals that have been witnessed in present times, the Mumbai Metro trains being the biggest illustration. The island city of Mumbai has currently joined the bandwagon and Mumbai Metro has already become the talk of the town. A city’s transportation system is undoubtedly like its nerves running all across and linking every far end. Being the newest modes of rapid transportation in Indian cities, Mumbai Metro has definitely brought the eastern, central and western suburbs much closer to South Mumbai. Traffic congestion is a major concern for the suburban cities, the metro projects are all set to solve these cramming issues. This chiefly has aided in condensing the unwanted pressure on the central and western railway network and offering a positive fillip to the cities real estate fortunes.
The fully-functional Metro Corridor I Versova-Andheri-Ghatkopar (VAG) Corridor has radically shortened the commute time between the eastern and western part of Mumbai. The positive effects of metro growth on Mumbai’s real estate landscape were observed soon after the announcement was made. This infrastructure marvel has made reaching out to central suburbs of Mulund, Vikhroli, Chembur, and Kurla almost unproblematic.
The Mumbai Metropolitan Region Development Authority (MMRDA) presently has been implementing the proposed 3 Metro corridors namely Dahisar-DN Nagar Metro-2A corridor, Andheri east- Dahisar east Metro corridor 7. Commuters living in Dahisar and Borivali have the option of taking the Metro-7 corridor that is planned to be stretched up to the airport. From the airport, one can conveniently take the Metro-3 underground corridor which will effortlessly connect them all the way up to Colaba. Additionally, the Mumbai Metro Rail Corporation (MMRC) also plans to execute the underground corridor that will run between Colaba and Seepz. There is no doubt that these three corridors will positively alter the residential and commercial skyline of these areas. It will majorly boost connectivity, allowing western commuters to seamlessly travel the central suburbs of Mulund, Thane, Ghatkopar and also makes it a cakewalk to travel to South Mumbai on a regular basis. Also, the Metro line linking Charkhop to Mankhurd is the new advance that will bring about an optimistic property growth in these areas, thus eliminating the commuting time taken to reach areas in Navi Mumbai.
The Mumbai-Ahmadabad bullet train project
The Indian real estate sector has always benefitted from the various infrastructure marvels taking place. The first-of-its-kind Mumbai-Ahmadabad bullet train project will start underground from BKC, traveling 21 KM in a tunnel passing through the sea before it emerges over the ground at Thane. This ambitious project will reduce the one-hour time that it takes to reach Thane from BKC, thus connecting the cities through the improved connectivity.
This proposed infrastructure wonder has made it almost a cakewalk to offer great connectivity from BKC to far-off suburbs like Thane, Mulund, Ghatkopar, and Kurla within a jiffy. This project has equally extended its benefits to the surrounding suburban areas who have received a considerable amount of pull not just from developers but also from potential buyers. What’s more? there has been a colossal appreciation for property values in these areas, thanks to the massive infrastructure growth which is clearly reflected in the interest depicted by developers and buyers. Along with positively impacting the residential scene in BKC, this project will also manage to alter the property scene in the suburb of Thane.
This development will also bring about a commercial and residential boom in these cities. This infrastructure explosion will lend an added advantage to Thane’s mounting property market too. Once the services get functional, many companies may set their base here, further invigorating the city’s evolution. With signs of progress like these, the scope for investors in the property sphere in Mumbai is definitely going to rise, not just attracting investors from domestic markets but also the foreign players, NRI and HNI crowd. Mumbai which has always continued to be a realty hub will now convert into an excellent infra hotspot with the entry of bullet trains into the city.
Eastern Freeway & SCLR:
The Eastern Freeway is an effective solution to the traffic congestion woes faced while commuting to South Mumbai from the central suburbs like Thane and Mulund. Effortlessly connecting the P D’Mello Road in South Mumbai to Eastern Express Highway at Ghatkopar, this marvel has majorly saved on the long travel time.
Owing to the tremendous rise in corporate offices in BKC, the day-to-day vehicular traffic to this part of the city has also increased. The SCLR (Santacruz Chembur Link Road) has been planned to decongest Mumbai’s biggest business hub. The SCLR has made commuting to the central suburbs like Kurla, Thane, Ghatkopar, and Chembur an effortless affair. The entire route has helped to cut down the travel time of the commuters traveling to the extended Mumbai suburbs by thirty to forty minutes during peak hours.
The introduction of these marvelous infrastructure advances, Mumbai is all set to totally metamorphose the real estate landscape of Mumbai.
