Commercial Property
Key Infrastructural Projects To Boost Connectivity In Mumbai And Surrounding Areas
With persistent traffic issues and connectivity problem in Mumbai and its surrounding areas, the center, as well as state government, has announced many infrastructural developments in recent years that will not only strengthen the rail, road network but will also decrease residents traveling time from one area to another. These projects include Mumbai Trans Harbour Link, Multimodal Corridor from Virar to Alibaug, Coastal Road Project, Navi Mumbai International Airport, etc. All these projects are expected to be completed in another five to six years.
Mumbai Urban Transport Project 3A (MUTP 3A)
A prime project which recently got cabinet nod from the state government is MUTP 3A. Under this project, the government is going to develop series of suburban railways such as the extension of Goregaon and Borivali, development of Fifth and sixth line on Borivali-Virar corridor, Fourth line on Kalyan-Asangaon stretch, Third and fourth line between Kalyan-Badlapur corridor, and Communications-based Train Control system on Harbour, Central and Western lines. The estimated cost of the project is Rs 33690 crore.
Mumbai Trans Harbour Link
This project will link the main city to the satellite city of Navi Mumbai thereby leading to decongestion on road. This 21.8 km long link will cut down the travel time between Panvel and South Mumbai which in turn will also create a positive impact on the real estate market of the areas.
Navi Mumbai International Airport
One of the most ambitious infrastructure projects, this airport will be going to decrease the passenger traffic on the main Mumbai Airport. The airport will be developed on a PPP basis and the estimated cost is Rs 16,704 crore. The state government has also planned to develop residential and commercial townships in the vicinity to develop economic activities.
Coastal Road Project
It is also an under construction freeway that in future will link Marine lines in South to Kandivali in North. It will run parallel to Mumbai’s western Coastline and the estimated cost of the project is Rs 12000 crore. The freeway will have 8 lane road with six lanes dedicated to normal traffic and rest 2 will be for BRT bus corridor.