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:

 

  1. 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.

 

  1. 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.

 

  1. 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

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