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At least four landmark infrastructure projects in Mumbai worth $10 billion are expected to be completed over the next 18 months, which shall provide a long overdue upgrade to India's largest property market. The Mumbai Trans Harbor Link, Coastal Road, Mumbai Metro Line-3, and Navi Mumbai Airport are in their last phase of execution and are likely to be opened for public usage in the next 12 months. But as the projects near its completion, suburban property prices may rise, according to Jefferies.
These marquee projects have individually seen decade-plus timelines, with multiple stop-starts. Over the past few quarters, support from an aligned central and state government on infrastructure has given a push and a busy election calendar at the city, centre, as well as state level, will likely help adherence to the current timelines.
Another $60 billion worth of large infrastructure projects are planned for completion over the next 3-7 years, which will boost connectivity within India's financial capital, Mumbai. These include metro rails and road connectivity projects. Mumbai Metropolitan Region (MMR) will also be the originating or ending point for some marquee national projects including a new Delhi-Mumbai expressway and the first line of the High-speed rail (bullet train) connecting Ahmedabad with Mumbai.
The outcome of Mumbai's infra upgrade is partly an improvement in connectivity within the existing city and partly an opening up of larger land for development. The combination of the Trans Harbor link and the new airport opening up by the end of 2024 will significantly improve connectivity to the Extended Eastern suburbs (Navi Mumbai, Panvel, Kalyan/ Dombivli area).
MMR is India's largest housing market, contributing 37 percent to total residential sales by value of the Top-7 cities. The city also sees the highest prices in the country. A reduction in commute times and improved accessibility of newer suburbs could drive the prices to probably spread out across MMR.
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These marquee projects have individually seen decade-plus timelines, with multiple stop-starts. Over the past few quarters, support from an aligned central and state government on infrastructure has given a push and a busy election calendar at the city, centre, as well as state level, will likely help adherence to the current timelines.
Another $60 billion worth of large infrastructure projects are planned for completion over the next 3-7 years, which will boost connectivity within India's financial capital, Mumbai. These include metro rails and road connectivity projects. Mumbai Metropolitan Region (MMR) will also be the originating or ending point for some marquee national projects including a new Delhi-Mumbai expressway and the first line of the High-speed rail (bullet train) connecting Ahmedabad with Mumbai.
The outcome of Mumbai's infra upgrade is partly an improvement in connectivity within the existing city and partly an opening up of larger land for development. The combination of the Trans Harbor link and the new airport opening up by the end of 2024 will significantly improve connectivity to the Extended Eastern suburbs (Navi Mumbai, Panvel, Kalyan/ Dombivli area).
MMR is India's largest housing market, contributing 37 percent to total residential sales by value of the Top-7 cities. The city also sees the highest prices in the country. A reduction in commute times and improved accessibility of newer suburbs could drive the prices to probably spread out across MMR.
India's financial capital Mumbai is seeing over Rs 5 lakh crore spent on upgrades
Rs 5 lakh crore worth of large infrastructure projects are planned for completion over next 3-7 years boosting connectivity within India's financial capital, Mumbai. These include metro rails and road connectivity projects. As the projects near its completion, suburban property prices may rise.
