The Impact Of The Mumbai Coastal Road Project On Real Estate In Mumbai
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The Impact Of The Mumbai Coastal Road
Project On Real Estate In Mumbai
The first section of the Mumbai coastal road project will open shortly for the public. The
much-awaited coastal project is set to reduce commute time drastically,
providing much relief for Mumbaikars. The inaugural phase of the coastal road Mumbai plan stretches
10.58 kilometres.
The coastal project will reduce travel time by
almost 70% and fuel consumption by 34%. The inauguration of this project is
expected to bring positive changes in the real estate sector. Let’s understand
how the coastal road project will be a game changer in various ways:
What does the coastal road have in
store for us?
The coastal
road Mumbai map stretches from the Princess Street Flyover at Marine Drive
to the Worli end of Bandra-Worli Sea Link. Let’s navigate through the impact of
the project in the following sections.
Real estate Boom
The Coastal Road project is a step in the
right direction to end traffic congestion. The coastal road enhances Mumbai’s
connectivity between the northern and southern sectors. The western suburbs
will witness a surge in property prices. Experts state that the demand for
residential properties in areas like Mahim and Matunga is expected to increase
as a result of the Mumbai coastal road project.
The real estate projects in Malad-Goregaon
will also witness heightened demand. The coastal road project will redefine
lifestyles for residents of western suburbs. Places like Borivali and Kandivali
will gain more popularity due to new interest from residents of south and
central Mumbai. Luxury properties will be in more demand considering the seamless
access to key transportation hubs and scenic localities.
Mahalaxmi, Marine Drive and Worli are the
localities closest to the Coastal Road. The luxury residential segment, residential
and commercial properties of
these locations will flourish exponentially in the coming days.
Let’s quickly look at the benefits of investing in real estate in
Mumbai a properly closely located to the Coastal Road Project:
- Easy access to greenery
Creating green spaces is a part of the coastal
road project. Investing in a property that’s close to the Coastal Road Project
will give you easy access to green spaces. An address that seamlessly blends
connectivity with greenery is the perfect choice for your dream home.
- Enhanced aesthetic appeal
The coastal road ranks high on aesthetics. The
infrastructure comprises Mumbai Coastal
Road tunnel, elevated roads and bridges that greatly elevate the visual
appeal of the neighbourhood. Owning a home in such an upscale neighbourhood is
a matter of pride.
- Improved quality of life
The quality of life will increase
substantially for residents due to the coastal road project. Fresh air,
seamless connectivity and capital appreciation of properties will significantly
increase the quality of life as the locality will attract more developments in
the future.
The real estate sector in the city is poised for a significant boom. The improved connectivity and enhanced infrastructure brought about by the coastal road are expected to drive demand for residential and commercial properties along the coastal stretch. The coastal road project is not just a road; it is a gateway to a new era of growth and prosperity for Mumbai's real estate sector, signalling a bright future ahead for developers, investors, and residents alike.
Article authored by: Team Propfynd
Date: 11th March, 2024