Mumbai is considered as the Financial Capital of the country and in recent developments, the Mumbai Coastal Road and MMRDA infrastructural projects should certainly revitalize the city, boost overall amenities and pave the way for future real estate growth as well. The Chief Minister of Maharashtra, Devendra Fadnavis, has already confirmed that the Mumbai Coastal Road project will be starting from the month of May in 2018. Work will start between South Mumbai’s Nariman Point, an important office hub and Kandivali in the suburbs. The Chief Minister has also confirmed that all necessary permissions have been obtained from the Environment Ministry and the last stage of the tender procedure was currently being executed by the BMC (Brihanmumbai Municipal Corporation) for this project.
The proposed Coastal Road will be a freeway spanning 29.2 kilometres and will be covering a large chunk of the western coastline in Mumbai, linking Kandivali in the northern suburbs to Marine Lines in South Mumbai. The project is expected to be finished in two phases, namely Bandra to Kandivali and Princess Street to Worli. The Maharashtra Chief Minister has also reportedly approved the MMRDA’s budget of Rs. 12, 156.95 crore for 2018-19. Funds have been lined up for big ticket infrastructure ventures like the Mumbai Trans Harbour Link and the metro railway expansion. Other infrastructural developments in the pipeline include new roads, creek bridges, flyovers and more.
Rs. 4, 700 crore has been kept for 7 major metro projects. These include the Dahisar to DN Nagar Metro 2A network, Andheri East to Dahisar East Metro-7 link, DN Nagar to Mandale Metro-2B corridor, Wadala-Ghatkopar-Thane-Kasarvadavli Metro-4 link, Colaba-Bandra-SEEPZ Metro-3 network and the Swami Samarth Nagar-JVLR-SEEPZ-Vikhroli Metro-6 corridor. Development will also take place for the Thane-Bhiwandi-Kalyan Metro-5 corridor as per reports.
Rs. 2, 100 crore has been allocated for fast tracking the Mumbai Trans Harbour Link. This will lower commuting time between Mumbai and Navi Mumbai and will also boost access to the New International Airport that is coming up. This will also link to the Mumbai-Pune Expressway and also to southern India. Rs. 581 crore has also been allocated for the 403 MLD Surya water supply programme which will be supplying water in bulk to the Vasai-Virar and Bhayander-Mira municipal corporations. There will be funds allotted for a few rental housing initiatives in these areas as well.
