Various Infra Projects in Mumbai To Be Operational in 2014
India’s first monorail is finally operational in Mumbai. The foremost aim was to reduce traffic congestion on the roads and provide the people a hassle-free commute to different parts of the city. This project is just one of the first projects to be operational this year in Mumbai. There are several other infrastructure projects in the pipeline that are expected to be operational this year.
Mumbai Airport Terminal
After the monorail, the first project in the pipeline is the Terminal-2 (T-2) of the Mumbai International Airport. The international operations are expected to commence on February 12 this year. T-2 has world-class infrastructure with a 4-level integrated terminal. It has an area of more than 4,39,000 sq.mts and will include new apron areas and taxiways. The terminal is expected to serve about 40 million passengers annually.
The Sahar Elevated Road that will connect T-2 to the Western Express Highway (WEH) is already ready. It will become operational once T-2 resumes its international operations. The elevated road will reduce the commuting time from about 30-45 minutes to less than 10 minutes due to the new highway. This will help frequent travellers, especially from Andheri, Vile Parle and surrounding areas. With reduced commute time, the demand for property is expected to go up, with a slight increase in property prices along the entire stretch.
Versova-Andheri-Ghatkopar Metro
The Mumbai Metropolitan Region Development Authority (MMRDA) has scheduled the Versova-Andheri-Ghatkopar Metro line to become operational in March this year. The line is 11.05 km long and will have 12 stations. This is the first line in the first phase of the Mumbai metro railway system. It is a fully elevated railway line that will connect the eastern and western suburbs, while augmenting the saturated bus services in Mumbai and reducing traffic congestion. It will also reduce the 90 minute commute time to about 21 minutes between Versova and Ghatkopar, while providing access to SEEPZ and other commercial centres.
With an improved connectivity and significant reduction in commute time from Versova, Ghatkopar and areas along the stretch to commercial areas such as SEEPZ, the demand for housing projects, for rentals as well as purchase, can be expected to go up. This can lead to a good hike in rental values as well as property prices.
Santa Cruz-Chembur Link Road (SCLR)
The SantaCruz-Chembur Link Road (SCLR) is scheduled to begin its operations this year. The project, about 6.5 km long, will have a six-lane road developed by the MMRDA. It includes a double-decker flyover with the top deck catering to the traffic between the WEH and Eastern Express Highway (EEH). A portion of the highway between Kurla and Kalina (the 560 mt Kurla-Kalina flyover) is already operational. The link road will offset the heavy traffic on Jogeshwari-Vikhroli Link Road (JVLR) and the Andheri-Kurla Road.
This is another project that will significantly improve the connectivity between the western and eastern suburbs of Mumbai as well as the commercial centres such as Bandra Kurla Complex (BKC). Property prices in Chembur have already gone up in anticipation of the infrastructure projects. With the monorail depot becoming a reality, the real estate market in Chembur and surrounding areas can see a further demand and increase in property prices.
