Navi Mumbai and Panvel’s infrastructural transformation: The next Mumbai in the making
Representational pic
A major infrastructural makeover is underway in the vicinity of India’s financial capital, Mumbai, with a master plan aimed at decongesting the city and promoting regional development.
The Wadhwa Group has announced that the plan includes initiatives to enhance connectivity and provide more affordable housing for residents in the Navi Mumbai and Panvel regions. The Mumbai Trans Harbour Link (MTHL) is one of the significant projects already initiated, facilitating improved transportation.
The upcoming Navi Mumbai International Airport is expected to further boost the housing sector and contribute to overall economic development.
Several other key projects are in progress, including the Ulwe Coastal Road, International Corporate Park at Kharghar, Navi Mumbai Integrated Industrial Township, a suburban rail corridor, an extension of the Sion-Panvel expressway, and metro connectivity, among others.
The completion of these projects, anticipated within the next 2 to 3 years, is expected to revolutionize the realty scene in the Mumbai Metropolitan Region (MMR).
Navin Makhija, Managing Director of The Wadhwa Group, believes that the transformation will accelerate economic development, create job opportunities, and offer housing options across different price segments.
Notably, property prices in Panvel, which is just a 50-minute commute from South Mumbai, are significantly lower than those within Mumbai, providing homebuyers with more reasonably priced homes, better infrastructure, and cleaner air.
Key projects that are set to reshape the face of MMR include:
1. Navi Mumbai International Airport: The airport, scheduled to be developed in four phases until 2032, is expected to generate a substantial number of direct and indirect jobs.
2. Mass Transit System: A 33.15-kilometre Metro Railway project connecting Navi Mumbai International Airport with Mumbai’s Chhatrapati Shivaji Maharaj International Airport has been approved.
3. Coastal Road to NMIA: The Ulwe Coastal Road will connect MTHL to the Navi Mumbai International Airport, reducing travel time and enhancing commuter convenience.
4. International Corporate Park: Kharghar is planned to be developed into an International Corporate Park, offering corporate offices, hospitality, educational institutions, entertainment, and healthcare facilities.
5. Navi Mumbai Integrated Industrial Township: The state government aims to position this township as the new IT and service sector hub of Maharashtra, promoting educational and research institutes.
6. 30-km-long Suburban Rail Corridor: Connecting Karjat with Panvel, this corridor will reduce travel time and contribute to economic development in Panvel, Karjat, and NAINA.
The strategic development and implementation of these projects signify a comprehensive effort to transform Navi Mumbai and Panvel into vibrant, self-sustaining regions, possibly creating the groundwork for the emergence of the ‘next Mumbai’ in the near future.
