Infrastructure in Mumbai is developing at a fast rate. The city is trying to make the best amenities for it dwellers and this in a way is changing how residents in Mumbai are living their lives. From monorail to metro to the upcoming airport in Navi Mumbai, the face of this city is changing, all thanks to these infrastructure projects. This has led to an increase in the demand for residential property in Mumbai. It is now gaining more investors as these infrastructure projects are proving to be a boon for real estate in Mumbai. Here we list the top infrastructure projects in Mumbai that are about to change the face of this city and make it a better place to own a house.
1. Navi Mumbai International Airport
This airport will make Mumbai the first city in India to house more than one airport. This airport still comes under the under construction projects in Mumbai with construction already in process for Phase I. After the completion of Phase I the airport is expected to handle 10 million passengers per annum. As soon as the foundation stones of the project were laid, the demand for property in Navi Mumbai surrounding the airport saw an increase. The construction for the airport is expected to generate more than 4 Lakh direct and indirect jobs in Navi Mumbai. As the development prospects are high, many real estate builders in Mumbai are planning to come up with real estate projects in Navi Mumbai.
2. Underground Metro
Mumbai is popular for its traffic snarls. To decongest Mumbai’s roads, the Mumbai Metro Railway Corporation Limited (MMRCL) has already started the construction of Colaba-Bandra-SEEPZ corridor of Metro-3 project. This underground metro will prove to be a comfortable mode of transport. It will also lessen the crowd on the roads as well as in the local trains of Mumbai. This system of the metro will connect you to the major financial hubs in Mumbai such as Nariman Point, Fort, Worli, Lower Parel, BKC, Goregaon etc. This same metro will also provide connectivity to the CSIA, SEEPZ, and MIDC. Many new real estate projects in Mumbai are now coming up in the vicinity of these localities where the metro line will provide connectivity. The underground metro will reduce travel time considerably and also provide comfort and security while traveling.
3. Mumbai Trans Harbour Link
Mumbai Trans Harbour link, also called as the Sewri Nava-Sheva Trans Harbour Link is a 21.8 km freeway bridge which will connect Mumbai will Navi Mumbai. The eastern suburbs of Mumbai will connect with the mainland Mumbai through a 16.5 km sea bridge. The freeway will also be connected to the Mumbai Pune Expressway and Western Freeway. This has had a positive boost to the real estate in Mumbai. This trans Harbour Link will reduce the commuting time from Churchgate to Navi Mumbai from 40 minutes to 20 minutes. This also means that there will be super-fast connectivity to Navi Mumbai and Konkan region. With so many upcoming projects in Navi Mumbai, the demand for real estate in pockets like Panvel has seen a huge rise.
These infrastructure projects are making the builders in Mumbai to come up with new projects. Residential projects in Mumbai are already in demand and with good connectivity due to such projects; living in Mumbai will be a comfortable experience.