Mumbai realty set for a boost as infra near completion

12 Oct 2023 CW Team

The Mumbai Metropolitan Region (MMR) is on the brink of witnessing heightened real estate activity, as four significant infrastructure projects near completion, as revealed in a report published on Monday. These projects encompass the Mumbai Metro, particularly the lines scheduled to be operational by 2024, the Mumbai Trans Harbour Link (MTHL), Phase 1 of both the Coastal Road Project (CRP), and the Navi Mumbai International Airport (NMIA).

As these vital projects reach fruition, the improved connectivity they offer is expected to stimulate annual leasing in the commercial office micro markets of Bandra Kurla Complex (BKC) and the western suburbs. Simultaneously, the traditional micro markets of the old Central Business District (CBD) and central Mumbai are poised for a significant revitalization. Moreover, the satellite market of Navi Mumbai is anticipated to present a multitude of real estate opportunities.

According to a report by property consultant Colliers, these infrastructure developments will not only enhance transportation but also play a pivotal role in transforming the real estate landscape in the Mumbai Metropolitan Region. The increased activity in both business and residential hubs is expected to be a major driver for economic growth and urban development in the region.

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