Check Out The List of Infrastructure Projects in 2023 That Will Boost Mumbai Metropolitan Region Real Estate

List of Infrastructure Projects in 2023 - Mumbai Metropolitan Region Real Estate

A myriad of infrastructural developments in MMR (Mumbai Metropolitan Region) promise to stimulate the real estate market in MMR in a big way in the days and months to come. This article should help you plan your real estate investments in Mumbai and Navi Mumbai.

In the next decade, the outlook for the MMR's important infrastructure projects is super optimistic. There are several government programmes supported by a substantial quantity of resources and funding.

There are various projects that purchasers might profit from, ranging from the numerous metro lines and the Navi Mumbai International Airport (NMIA) to the Mumbai Trans Harbour Link (MTHL). There is no question that these large infrastructural improvements will have a significant influence on the Mumbai and Navi Mumbai real estate markets.

In addition, the following infrastructure projects are being planned and developed in and around Mumbai:

Industrial Corridor between Delhi and Mumbai (DMIC)

Mumbai High-Speed Train to Ahmedabad (MAHSR)

Thane Coastal Highway

Eastern Freeway extension from Ghatkopar to Thane

Airoli-Katai Tunnel Road

Goregaon-Mulund Link Road (GMLR)

The decision by the Maharashtra government to expedite these infrastructure projects would provide favourable results from 2023 onwards, offering many prospects for real estate developments, real estate price increases, and the expansion of real estate markets in Mumbai and surrounding areas.

In the next year, the notable infrastructure developments in central and western Mumbai, as well as the Dombivli-Kalyan and Navi Mumbai belts, will have a big influence on Mumbai's highly valued real estate market.

In practical terms, the completion of these infrastructural projects in 2023 will have the following effects on inhabitants, purchasers, and the Mumbai real estate market:

Stronger Connectivity:

Mumbai Trans Harbour Link or The MTHL is scheduled to open in December 2023. Upon being finished, it will be India's longest sea bridge. It is projected that the travel time between Mumbai and Navi Mumbai would be reduced in half due to Mumbai Trans-Harbour Link, hence improving the real estate market in both Mumbai and Navi Mumbai.

Additionally, phases one and two of GMLR are scheduled for completion in 2023. This project intends to alleviate traffic congestion and facilitate travel between Mumbai's eastern and western neighbourhoods.

Mumbai Coastal Road Project

The humungous Mumbai Coastal Road Project is anticipated to be finished by November 2023, which has sparked a great deal of enthusiasm among the residents of Mumbai. The completion of the Mumbai Coastal Road Project would not only significantly aid in the decongestion of Mumbai, but will also result in fast urbanisation and growth. In turn, this will attract investors and make MMR India's premier investment location once again.

The building of motorways, highways, flyovers, and metros will go a long way toward resolving one of the city's most pressing issues: reducing inhabitants' commute times while assuring world-class infrastructure. there is no doubt that home buyers are interested in purchasing a home in the MMR area due to the intelligent residential projects and quick infrastructure expansion.

Given the scope of infrastructure developments - Mumbai and Navi Mumbai property investors will find it more beneficial to invest here.

Growth of new real estate micro marketplaces in Mumbai & Navi Mumbai

Residential developments in Andheri, Malad, Mulund, Santacruz, Bandra, and Thane would be more attractive due to the planned construction projects.Also, the formation of fresh real estate micromarkets inside Mumbai and Navi Mumbai is impending as infrastructure projects in MMR are planned, built, and implemented with the goal of alleviating traffic congestion; this will stimulate home-buying activity across MMR.Improving connection will encourage and allow working professionals to rent and own residences near their places of employment. Consequently, the aforementioned infrastructural enhancements will establish new real estate micromarkets in the area and encourage individuals to invest in them.

Thane, Kalyan, Virar and Ulwe are some attractive real estate micro markets to watch out for in 2023.

2023 and beyond is anticipated to be the time of infrastructural development and organic real estate expansion in Mumbai and Navi Mumbai.