Every inch counts in this city and the opening of the much-anticipated Nhava Sheva Atal Setu will create an unprecedented connection between the vital hubs of Mumbai and Navi Mumbai, transforming their real estate. An engineering marvel, the Mumbai Trans Harbour Link is India’s longest sea bridge.
It will work as a lifeline with the promise of reducing travel time between Mumbai and Navi Mumbai to 20 minutes, which otherwise takes two hours. Spanning 21.8 km, the Atal Setu is a six-lane expressway that begins from Sewri and ends at Chirle near Nhava Sheva.
Like any other important infrastructure project, the Atal Setu is also expected to have a game changing effect on city’s vibrant real estate growth. Property prices are already witnessing an upward trend and this is set to rise now that the bridge has been inaugurated.
MTHL as the game changer
Experts said the MTHL will enhance connectivity and accessibility and areas like Panvel and Ulwe will witness “explosive growth”, as these are located close to prime business hubs.
“The Mumbai Trans Harbour Link is a game-changer! As a proud Mumbai developer, I see this engineering marvel transforming connectivity and our real estate landscape. With travel times slashed to 20 minutes between Mumbai and Navi Mumbai, areas like Panvel and Ulwe will witness explosive growth. We anticipate a surge in demand for homes driven by professionals seeking affordable luxury close to prime business hubs,” Manju Yagnik, vice-chairperson of Nahar Group and senior vice-president of NAREDCO-Maharashtra, told the publication Mint.
This will add to existing vital infrastructure like the Metro, 46 km of which is already operational while construction of 337 km is underway and an additional 50 km has been planned. Experts further said the real estate market will witness a boom in Panvel, Sewri, Navi Mumbai and Chembur.
“Property value in the neighborhoods that the MTHL passes through are geared to grow into major nerve centres of Mumbai and, consequently, the demand for real estate here, both residential as well as commercial, would see an upward trajectory,” Sundeep Jagasia, managing director of the Shree Krishna Group, told Mint.
Chembur has already been positively impacted by key projects like the Eastern Freeway, Santa Cruz-Chembur Link Road, and Bandra Kurla Complex Connector.
MTHL impact on Mumbai’s eastern coast?
The Atal Setu stands as the flagship project in the fast-changing landscape of Mumbai’s eastern coast. The infrastructural growth witnessed in this area represents a shift towards better connectivity and accessibility. Projects like the Sewri Worli Elevated Corridor, Eastern Express Highway (EEH), and Eastern Freeway are all closely linked to the Atal Setu.
The Sewri Worli Elevated Corridor will provide signal-free connectivity, connecting the eastern and western regions of the city. The Atal Setu, meanwhile, will play a crucial role in connecting South Mumbai, particularly the area of Byculla. This connectivity will further extend to the upcoming Navi Mumbai International Airport.
Hence, this promises faster access for South Mumbai residents leading to higher demand for residential real estate in the vicinity. Projects in the heart of South Mumbai stand to reap the benefits of this efficient connectivity. They will provide faster connectivity to the Atal Setu and the new airport in Navi Mumbai.
Infrastructure projects like the EEH and Eastern Freeway have already played a crucial role in enhancing connectivity, reducing traffic congestion, and decreasing travel time. So, Mumbai’s east coast infrastructure projects represent a paradigm shift in the city’s connectivity landscape.
MTHL to contribute to Navi Mumbai’s economic development
Coupled with the upcoming international airport, the MTHL will play a key role in the overall economic development of Navi Mumbai. According to a report published by Times of India, homebuyers will be keenly interested in Navi Mumbai because of lower property prices, lifestyle, easy commute, and now, improved connectivity.
Bhavesh Shah, joint managing director of Today Global Developers told ToI that affordable housing options in Navi Mumbai are still available within the range of Rs 30 lakh to Rs 40 lakh. The report also quoted Raajesh Prajapati, managing director of Prajapati Constructions, as saying the MTHL will greatly contribute to the overall economic development of Navi Mumbai over the next decade.
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