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Prime Minister Narendra Modi is set to inaugurate the Mumbai Trans-Harbour Link (MTHL), the country’s longest sea bridge, on Friday. Alongside the MTHL, three other major projects with a combined cost of over Rs 84,000 crore are expected to commence operations in 2024, further boosting Mumbai’s economic growth.
The construction of the six-lane MTHL began in the 1970s and was awarded in 2017. Initially scheduled for completion in early 2022, the project will now open with a toll fee of Rs 250 for one-way single-journey vehicles.
The execution of such a massive sea bridge was no easy task. The project faced challenges due to its starting point at Sewri, an eco-sensitive zone frequented by flamingos. Additionally, the mid-sea location posed challenges due to the presence of sub-surface oil pipelines and a crucial navigation channel for ship movement.
In addition to the MTHL, three other mega projects, namely the Mumbai Metro Line-3, the Navi Mumbai Airport, and the Mumbai Coastal Road, are also expected to begin operations this year. These projects are anticipated to bring about changes in property prices and drive the second phase of de-concentration in the real estate sector.
According to industry analysts, the improved connectivity to economic hubs will lead to demand polarization and price growth in peripheral locations. This expected boom in real estate is seen as a logical outcome of the infrastructure developments.
Apart from these projects, Mumbai’s infrastructure boom is set to continue with the ongoing construction of India’s first high-speed rail, as well as utility-focused projects for inter-city roads, water supply, gas pipeline connections, and drainage systems.
The future holds more exciting ventures, including the second phase of the coastal road, an underground tunnel project in the southern part of the city, and a twin-tunnel project connecting Andheri and Borivali suburbs.
The infrastructure boom in Mumbai has positioned the city as an attractive destination. While other cities have faced flood-related challenges, Mumbai has experienced fewer and less severe disruptions, making it a more stable option for investors and residents.
With the ongoing developments and upcoming projects, Mumbai’s real estate market and overall infrastructure will continue to flourish, attracting more attention and investment.
India’s longest sea bridge, known as the “Atal Tunnel,” is set to be inaugurated by Prime Minister Narendra Modi on Friday. Spanning over 14 kilometers, the bridge connects the Rameswaram island to mainland India, providing a crucial link between Tamil Nadu and Pamban. The construction of this impressive infrastructure project began in 2017 and has been completed within a record time of four years. The bridge is expected to enhance connectivity, boost tourism, and facilitate economic growth in the region.
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