Mumbai: The recent inauguration of the Mumbai Trans Harbour Link (MTHL) on January 12 by Prime Minister Narendra Modi marks a pivotal moment for Mumbai’s real estate landscape. This mega-infrastructure project, often referred to as Atal Setu in honor of former Prime Minister Atal Bihari Vajpayee, spans an impressive 22km, with a remarkable 16.5km extension into the sea. The inauguration sets the stage for transformative changes, particularly in the connectivity and growth prospects of the Mumbai Metropolitan Region (MMR).
One of the most noteworthy impacts of the MTHL is the significant reduction in travel time between Mumbai and Navi Mumbai. What once took a cumbersome two-hour journey will now be streamlined to a mere 20 minutes, making daily commuting more efficient and seamless. This enhanced connectivity is poised to redefine the dynamics of Mumbai’s real estate sector.
The MTHL is expected to play a pivotal role in solidifying Mumbai’s position as a vibrant real estate hub. The appreciation of property prices and the catalyzation of substantial real estate growth are anticipated outcomes of this infrastructure marvel. The ease of travel and accessibility brought about by the sea bridge are likely to attract investment and development, transforming the real estate landscape across the region.
Ayushi Ashar, Director at Ashar Group and a member of the Managing Committee of MCHI-CREDAI, emphasizes the holistic impact of the MTHL in conjunction with other ongoing developments. The construction of a 337 km metro network, with a current operational segment of 46 km and plans for an additional 50 km in 2023-2024, further reinforces Mumbai’s status as a vibrant real estate hub. This coordinated and expansive development is expected to positively influence property prices, stimulate significant real estate growth, and reshape the overall real estate industry in Mumbai.
The MTHL brings a refreshing change by democratizing the real estate market, connecting areas like Panvel, Sewri, Navi Mumbai, and Chembur, which were previously considered less desirable. This bridge not only bridges physical gaps but also transforms the perception of certain regions, unlocking their potential for real estate development.
Constructed at a cost of ₹18,000 crore, the Mumbai Trans Harbour Link stands as a testament to India’s commitment to infrastructure development and is poised to leave an indelible mark on the city’s real estate landscape. As it opens up new possibilities and enhances connectivity, the MTHL is set to play a key role in shaping the future growth trajectory of Mumbai’s real estate sector.
