Exploring the Mumbai Coastal Road Project’s Route, Expenditure, and Real Estate Impact!

The Mumbai Coastal Road Project is a 29.2 km long access-controlled expressway connecting Princess Street Flyover in South Mumbai to Kandivali in the Northern Suburbs. It will have eight lanes, six for regular traffic and two for a Bus Rapid Transit (BRT) system. The road will also have a 2.6 km long undersea tunnel, which will be the first of its kind in India.

Cost

The estimated cost of the Mumbai Coastal Road Project is Rs. 13,060 crore. The project is being funded by the Brihanmumbai Municipal Corporation (BMC).

Real estate impact

The Mumbai Coastal Road Project is expected to have a significant impact on the real estate market in Mumbai. The project will improve connectivity and reduce travel time for commuters, making the localities along the road more attractive options for homebuyers. This is expected to lead to an increase in the demand for properties in these areas and drive up real estate prices.

In addition, the Mumbai Coastal Road Project is expected to boost economic activity in the areas along the road. This will lead to an increased demand for commercial and retail spaces, which is also expected to drive up real estate prices.

Here are some of the specific areas that are expected to benefit the most from the Mumbai Coastal Road Project:

• South Mumbai: The project will improve connectivity between South Mumbai and the rest of the city, making it more attractive for businesses and residents. This is expected to lead to an increase in the demand for commercial and residential properties in South Mumbai.
• Worli-Bandra-Kurla Complex (BKC): The Mumbai Coastal Road Project will provide direct access to BKC, which is one of the most important business districts in Mumbai. This is expected to lead to an increase in the demand for commercial and residential properties in BKC and the surrounding areas.
• Western suburbs: The Mumbai Coastal Road Project will reduce travel time between the western suburbs and South Mumbai and other parts of the city. This is expected to make the western suburbs more attractive for residents and businesses. This is expected to lead to an increase in the demand for commercial and residential properties in the western suburbs.

Overall, the Mumbai Coastal Road Project is expected to have a positive impact on the real estate market in Mumbai. The project will improve connectivity, reduce travel time, and boost economic activity in the areas along the road. This is expected to lead to an increase in the demand for commercial and residential properties in these areas, which will drive up real estate prices.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.