Real Estate

Mumbai developers upbeat on clearance to various infra projects

Our Bureau Mumbai | Updated on May 13, 2019 Published on May 13, 2019

An aerial view of the Bandra-Worli Sea Link in Mumbai   -  BusinessLine

Says, to improve connectivity and decongest the prime locations of the city

The developer community in Mumbai feels that the Supreme Court order that cleared the way for execution of Mumbai’s ambitious infrastructure projects – the Coastal Road and Bandra-Varsova Sea Link (BVSL) – will bring about a sea-change in the land-starved city.

The slew of various infrastructure projects will improve connectivity and decongest the prime locations of the city, said Abhinav Joshi, Head of Research at CBRE India.

Quoting a survey by bizbuzzindia.com, Joshi said it will also significantly impact the property prices in the vicinity besides giving a fillip to the demand for commercial and office spaces in the area.

The new corridor would be a shot in the arm for connectivity between the suburbs and the main commercial business district. It will reduce travelling time to 12 minutes from 60 minutes Due to improved connectivity from the farther suburb, the crowded areas of Andheri, Chembur, Ville Parle are expected to be decongested and the excessive pressure on the express highways would be relieved, he said.

To reduce travel time

Ashwin Sheth, Chairman and Managing Director of Ashwin Sheth Group, said the Coastal road, which is a 29.2 km-long-freeway along Mumbai’s western coast will reduce the travel time by 20 minutes and a vehicle taking the highway would save a third of the fuel daily, which will in turn reduce the carbon footprint by 1,826 tonne of carbon dioxide per year.

“Homebuyers will have more options while house hunting and with the upcoming metro lines, they will have access to every corner of the city,” he said.

Another project, the proposed Goregaon-Mulund link road, will cut down peak hour travel from Goregaon and Mulund from over 2 hours to 15 minutes. Similarly, there are various projects undertaken by the government to improve connectivity that will decongest the roads, save travel time and make travelling faster and easier, Sheth said.

Seamless connection

With the population now standing at 22 million, there is a need for expansion and newer markets to be integrated into one large metropolis. Infrastructure projects will seamlessly connect the zones together and fuel growth, Om Ahuja, Chief Operating Officer, Residential Business at K Raheja Group, pointed out.

According to Shailesh Puranik, Chairman and Managing Director at Puranik Builders, the road projects such as the Mumbai metro lines and coastal road will make commuting much more easier and provide easy and comfortable access to the island city from the suburban towns.

Published on May 13, 2019

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