Top 5 Infra projects: Impact on Mumbai's realty

Across the globe, major infrastructure improvement projects have had a major impact not only in bettering the economic scenario of the region but also on its real estate fortunes. The Mumbai Metropolitan Region (MMR) is no exception to this trend.

IGMD takes a closer look at five key infra projects in the region that have not only considerably eased connectivity issues and ensured smooth flow of traffic, but also proved to be a catalyst for the mushrooming of major realty projects in the vicinity.


Versova – Ghatkopar Metro Rail:
Phase I of the ambitious Mumbai Metro to be built in three phases at an estimated cost of approx INR36,000cr. Already operational this 11-km stretch connects Ghatkopar in the East to Versova in the West in a flat 22 minutes, a journey that used to take anywhere between 1 to 2 hours (by road) earlier.

Operated by the newly-formed Mumbai Metro Rail Corporation (MMRC), the metro passes through key residential and commercial areas of the city and has already worked wonders in reducing the travel time and massive traffic jams witnessed earlier along this route.

Project Highlights:

• Has drastically reduced pressure on public and private modes of transport.
• Has reduced travel time from the earlier 90 minutes to just about 22 minutes now.
• Is expected to considerably reduce vehicular pollution with more people opting for this comfortable air-conditioned option.
• Is a much safer & hassle-free mode of transport (vis-à-vis local trains) with features like automatic door closing system, automated fare collection system and smart cards.
•  All metro stations equipped with modern, user-friendly features like escalators, elevators, tactile flooring, washrooms and facilities for the disabled.
• The estimated total daily passenger count is approx 1.5 million.

• Has put the spotlight on locations like Andheri East, Ghatkopar and Vikhroli as viable commercial and residential destinations.
• Has caused the mushrooming of several new projects along the Metro route across the residential, retail and commercial categories.
• Consequently property rates have witnessed an upward climb in the immediate and adjoining areas here.
• Some of the major upcoming projects on this route include: Hubtown Grove (Hubtown Group), Kanakia Sevens (Kanakia Grp/Andheri East), Kanakia Rainforest (Kanakia Grp/ Andheri East), Vasant Oasis (Sheth Developers/Andheri East), Hubtown Viva (Hubtown/Andheri East/Commercial) and Krishna Residency (Krishna Developers/Andheri East).

• It has reduced travel time between Shivaji Chowk (Chembur) and Mumbai CST by almost 25 to 40 minutes.
• The approx 20-km stretch that takes an estimated 1 hour via the arterial Dr. Ambedkar road can be covered in under-30 minutes, while the distance has reduced by about 5-6kms.
• -The freeway is expected to provide a major fillip to relaxing the heavy traffic flow towards destinations like Navi Mumbai, Nashik and Pune. 
• The highway has been kept completely signal-free, boosting high-speed vehicle movement considerably.
• Also accommodates heavy vehicles and multi-axel vehicles.
•  It is equipped with steel crash barriers to prevent accidents and seismic arresters. It also includes two 500m tunnels at the beginning of the BARC mountain.

• Improved connectivity has caused a spurt in real estate development activity in the adjoining areas.
• The reduced travel time has increased the demand for commercial properties especially in areas of South Mumbai.
• Prices for residential projects in key locations like Ghatkopar and Chembur, have registered an increase in the past two years.
• A few of the major ongoing projects along this stretch include; Lodha New Cuffe Parade (Lodha Group/Residential/Wadala ), Ajmera I-land (Ajmera Group/Wadala/residential), Ajmera Himalayan Heights (Wadala/Ready Possession), Queens Court (Panchshil group/Chembur/Residential) and Wadhwa Anantya (Chembur/Residential/Wadhwa Group) among others.

• Six-lane road with the country’s first double decker flyover, with one extension to the Tilak Nagar Terminus (for commuters travelling towards North and South) and another to LBS Marg (Kurla West) with the third going to Nehru Nagar (Kurla East).
• Has reduced travel time drastically for commuters heading towards Navi Mumbai (from the western suburbs) from the erstwhile (upto) 2 hours to a stunning under-30 minutes.
• Has greatly improved connectivity between the arterial Eastern and Western express highways, both of which are crucial link for private and commercial vehicle movement.

• The project has boosted realty prospects in adjoining areas like Chembur, Vidyavihar, Sion and Kurla.
• These locations are now witnessing an increased demand for both residential and commercial properties.
• According to experts there has been an estimated 25 percent rise in Chembur’s property prices alone; due to the cumulative effect mega infra projects like the Eastern Freeway, Monorail, Metro and now SCLR.
• The reduced load on JVLR and Sion-Dharavi Link Road is expected to have a positive impact on the realty market in the Western suburbs and BKC.
• The decrease in traffic congestions at places like Amar Mahal Junction (Chembur), Vakola (Santacruz), parts of Sion and Kurla (Eastern Suburbs), is expected to increase demand for both residential and commercial realty projects here.
• The overall development potential of areas near SCLR access points is also likely to show an upward trajectory.

• Like the Mumbai Metro, the Monorail has also considerably reduced traffic congestion and eased the load on the suburban rail network.
• Fully air-conditioned, the monorail ensures a comfortable journey regardless of the external weather conditions.
• Eco-friendly, since it does not run on fossil fuels but electricity, saving about 200 tonnes in terms of harmful carbon dioxide emissions.
• Reduced noise pollution since it runs virtually silent. 
• Features an advanced system of passenger-driver communication for added safety.
• CCTV network installed to ensure passenger safety and prevent misuse of facilities.

• Suburbs like Wadala and Chembur are expected to see a surge in realty projects.
• Property rates in these areas have already doubled with a 1000-sq-ft of apartment at Wadala priced at INR90 lakhs in 2009, quoting a price of approx INR2cr today.
• Chembur has also witnessed a similar trend, with property prices here beginning from about INR16,000psf and going upto approx INR18,000psf.
• Prime projects here include Wadhwa Anantya (Wadhwa group/residential/Chembur), Panchshil Queens Court (Panchshil group/residential/Chembur), Veena Serenity (Veena developers/residential/Chembur), Hubtown Seasons (Hubtown Group/ residential/Chembur) and Godrej Central (Godrej Properties Ltd/residential/Chembur).

• Has eased commuting woes of passengers/visitors going to the T2 terminal at Mumbai’s Chhatrapati Shivaji International Airport.
• The 2.20km long road allows motorists to drive the distance of 4-5 km from the WE highway to CSIA in five minutes instead of the earlier 40-45 minutes.
• Traffic bottle-necks in areas along the WEH and Andheri east in the vicinity of the airport have also reduced considerably.
• Signal-free road allows for unhindered flow of traffic to and from the terminal during peak hours.
• Road also includes 4 entry points and 2 exits, an underpass for vehicles on the WE highway, a pedestrian subway, underpasses, a tunnel and ramps connecting the highway to the airport terminal.