| Work Detail |
Prime Minister Narendra Modi is set to inaugurate the Mumbai Trans-Harbour Link (MTHL), the countrys longest sea bridge, on Friday. The 21.8-kilometer bridge, connecting Mumbai and Navi Mumbai, will be joined by three additional major projects with a combined cost exceeding Rs. 84,000 crore, expected to commence operations in 2024. This development is poised to drive further economic growth in the city.
The six-lane MTHL project, conceived in the 1970s and awarded in 2017, faced challenges due to its location in an eco-sensitive zone at Sewri, frequented by flamingos. Executives from Larsen & Toubro, one of the project contractors, highlighted the complexities, including the presence of sub-surface oil pipelines and a crucial navigation channel mid-sea. The toll fee for one-way single-journey vehicles is reported to be Rs. 250.
In addition to MTHL, three other mega projects-Mumbai Metro Line-3, Navi Mumbai Airport, and Mumbai Coastal Road—are expected to commence operations this year, collectively reshaping the citys infrastructure landscape. Analysts predict changes in property prices, a second phase of real estate de-concentration, and the initiation of various utility projects.
Rajashree Murkute, Senior Director and Head of Infrastructure Ratings at CareEdge, noted, "We may see a phase two of de-localisation and de-concentration, the first phase was the movement from south Bombay to Bandra Kurla Complex (BKC)." The expected boom in real estate is logical, with improved commutation times to economic hubs driving demand polarization and price growth in peripheral locations.
The Mumbai Metro Line-3, worth Rs 37,276 crore, connecting SEEPZ in the north to Cuffe Parade in the south, is set to start operations in two phases, with the first in April and the second in September. A Cushman & Wakefield report highlighted a growing trend in redevelopment projects within western suburbs and south-central areas, driven by improved connectivity prospects and upcoming infrastructure projects.
The Mumbai Coastal Road, running parallel to the coastline, is anticipated to begin operations in May 2024. Manish Agarwal, co-founder of AskHowIndia.org, expressed optimism, stating, "The developments over the next couple of years will certainly make Mumbai more attractive. While competing cities have struggled with floods in the last few years, Mumbai seems to have had fewer and less intense disruptions." |
