The Mumbai Trans Harbour Link (MTHL) inauguration by Prime Minister Narendra Modi on January 12 marks the beginning of another transformative phase for Mumbai’s real estate sector. As India’s longest sea bridge, spanning 22km with a 16.5km extension into the sea, the MTHL’s influence on the Mumbai Metropolitan Region (MMR) will be profound.
The sea bridge is poised to significantly shorten travel time between Mumbai and Navi Mumbai to just 20 minutes which otherwise takes 2 hours.
The MTHL is expected to solidify Mumbai’s status as a vibrant real estate hub, appreciating prices and spurring significant real estate growth.
Will Mumbai Trans Harbour Link be a game-changer?
“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,” said Manju Yagnik, Vice Chairperson of Nahar Group and Senior Vice President of NAREDCO- Maharashtra.
Property prices in these regions are already witnessing an upward trend, and we expect this to solidify post-inauguration, added Manju.
Furthermore, the ongoing construction of a 337 km metro network, the operational 46 km segment, and plans for an additional 50 km in 2023-2024 solidify Mumbai’s status as a vibrant real estate hub. This cohesive development is poised to positively appreciate prices, spur significant real estate growth, and reshape the landscape of Mumbai’s real estate industry, said Ayushi Ashar Director at Ashar Group and member of the Managing Committee of MCHI-CREDAI
The MTHL comes as a welcome change as it will certainly democratise the real estate market connecting places like, Panvel, Sewri, Navi Mumbai, and Chembur that were so far considered less desirable in the real estate market.
“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,” said Sundeep Jagasia, Managing Director, Shree Krishna Group.
Chembur has been the direct beneficiary of some of Mumbai’s key transformative infrastructural projects. As per Sundeep Jagasia, enhanced connectivity due to the Eastern Freeway, SCLR, and BKC Connector have changed the dynamics of Chembur as a residential micro-market. The Mumbai Trans Harbour Link project with its speedy hassle-free travel passage is likely to do the same, he added.
The MTHL, also known as Atal Setu named after former PM Atal Bihari Vajpayee, originates from Sewri in Mumbai and terminates at Nhava Sheva in Uran taluka in Raigad district. It is constructed for ₹18,000 crore.
“This project would help cover the distance between Mumbai and Navi Mumbai in just 20 minutes which otherwise takes 2 hours. This would provide a big relief to residents of Mumbai as they would be free of traffic snarls,” according to Maharashtra CM.
Mumbai Trans Harbour Link (MTHL)
MTHL is the longest sea bridge in the country that will connect Mumbai with the Mumbai-Goa Highway, Vasai and Virar, Navi Mumbai, and Raigad districts. The MTHL, also known as Atal Setu named after former PM Atal Bihari Vajpayee, originates from Sewri in Mumbai and terminates at Nhava Sheva in Uran taluka in Raigad district. It is constructed for ₹18,000 crore.
Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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