Mumbaikars & Realtors raise a toast - To the new road along Mumbai's Coast

Is this the biggest announcement that Mumbai city was awaiting with bated breath?
In all probability - yes.

The 35 km long proposed coastal road between Nariman Point in South Mumbai and Kandivali in north Mumbai could be the harbinger of a great new change in the city's congested trafficscape. It also means a step forward towards making Mumbai a global city in the real sense of the word.

Clearance with Terms & Conditions
Environment minister Prakash Javadekar has confirmed green clearance for the coastal road In Mumbai albeit laying out conditions that will ensure protection of the coastal and marine life.
The road will extend from Cuffe Parade to Kandivli, with the stretches between Cuffe Parade and Priyadarshini Park (along Marine Drive) and Juhu and Versova beaches having tunnels and the Worli seafront extending itself into the waters as part of the reclamation plan. There will be 10km of tunnels, 10km of the road will be on reclaimed land, and 12km will be on stilt.
The conditions include minimum reclamation of coastal land, zero commercial activity on reclaimed land and that the project has to stay clear of the high tide line.

These conditions are crucial as they will ensure that there is no change in high-tide line which means no use of land or FSI nearby for commercial gains. This will eliminate all possible threat from real estate to the reclaimed land. The fact that many stretches would have open spaces, green belts with walking tracks, would ensure that road is not only an asset in terms of utility but also appealing aesthetically.

Ease of Movement & reduced travel time
This announcement is surely going to be a game changer for developers having land or projects along this stretch and will highly improve the travelling time & condition for scores of Mumbaikars who have to go around many kilometers to travel this route.
The road will reduce travel time between Cuffe Parade and Kandivli by 90 minutes during peak time and reduce pollution as it will cut fuel consumption. You can already visualize millions of Mumbaikars jumping in joy.
Chief Minister Devendra Fadnavis on Monday called on Union minister of state for environment and climate change Prakash Javadekar and commended this swift and appropriate decision stating that it is a major gift to Mumbaikars, and it is like a dream come true.

Decongesting the western corridor
He also reiterated that this move would decongest Mumbai allowing opening up of more than 90 hectares of green spaces within the city.
He also confirmed that Mumbai's transport infrastructure would be drastically transformed and become much more efficient.  As of today, more than 50% of the city's traffic is on the western express highway, and the new coastal road will definitely help decongest traffic along the western corridor.

Positive impact on real estate prices especially North Mumbai
In real estate terms it also means that many areas along this pocket especially in the North of Mumbai will now appreciate considerably in terms of value and one can expect high capital appreciation in the coming months and years.