The Impact of Mumbai Trans Harbour Link on Real Estate Sector: A Game-Changer for Mumbai’s Real Estate Industry

Prime Minister Narendra Modi’s inauguration of the Mumbai Trans Harbour Link (MTHL) on January 12 has set the stage for a significant transformation in Mumbai’s real estate sector. As India’s longest sea bridge, spanning 22km with a 16.5km extension into the sea, the MTHL is expected to have a profound impact on the Mumbai Metropolitan Region (MMR).

One of the most notable benefits of the MTHL is the significant reduction in travel time between Mumbai and Navi Mumbai, from 2 hours to just 20 minutes. This improved connectivity is set to propel real estate growth in the region, making Mumbai an even more attractive hub for investors and homebuyers.

Industry experts are optimistic about the potential of the MTHL to revolutionize Mumbai’s real estate landscape. Manju Yagnik, Vice Chairperson of Nahar Group and Senior Vice President of NAREDCO- Maharashtra, called the MTHL a game-changer, anticipating explosive growth in areas like Panvel and Ulwe as professionals seek affordable luxury close to prime business hubs.

Ayushi Ashar, Director at Ashar Group and member of the Managing Committee of MCHI-CREDAI, highlighted the cohesive development in Mumbai, including the construction of a metro network, which is expected to further appreciate prices and spur real estate growth.

The MTHL is also expected to democratize the real estate market by connecting previously less desirable places like Panvel, Sewri, Navi Mumbai, and Chembur. Sundeep Jagasia, Managing Director of Shree Krishna Group, noted that these neighborhoods are likely to become major nerve centers of Mumbai, leading to an upward trajectory in demand for real estate.

Chembur, in particular, has been a direct beneficiary of key infrastructural projects, and the MTHL is poised to further enhance connectivity and reshape the residential micro-market in the area.

The MTHL, also known as Atal Setu in honor of former PM Atal Bihari Vajpayee, is a significant infrastructure project constructed at a cost of 18,000 crores. Maharashtra CM highlighted that the project will provide a much-needed relief to residents of Mumbai by reducing travel time and easing traffic congestion.

Overall, the Mumbai Trans Harbour Link is expected to redefine Mumbai’s real estate landscape, making it a vibrant and thriving hub for both residential and commercial properties.