Real Estate Developers Anticipate Boom in MMR with the Opening of MTHL

“The opening of the Mumbai Trans-Harbour Link (MTHL) stands as a monumental achievement in India’s infrastructure landscape, signifying a transformative leap in connectivity between Mumbai and Navi Mumbai. This engineering marvel is set to catalyze a paradigm shift, not only enhancing accessibility but also triggering a profound impact on the real estate sector. With strengthened links to key hubs such as Navi Mumbai, Konkan, and Pune, the MTHL is on the brink of reshaping the dimensions of residential, commercial, and hospitality real estate.

The impending surge in realty prospects, particularly in areas like Panvel and its environs, is poised to be substantial. The Mumbai Metropolitan Regional Development Authority’s ambitious plan to create a new township spanning approximately 350 sq km across the city’s harbour region adds another layer of momentum to the burgeoning real estate ecosystem.” Nikunj Sanghavi Treasurer – CREDAI MCHI Managing Director, Veena Developers

“The MTHL will open up vast swathes of previously inaccessible land in Navi Mumbai and Raigad districts, creating a treasure trove for real estate development. Areas like Panvel, Alibaug, and Uran will witness a surge in residential and commercial projects, catering to diverse needs and budgets. The bridge will slash travel times between Mumbai and Navi Mumbai, making peripheral areas more attractive for homebuyers and businesses. This enhanced accessibility will drive demand for affordable housing, catering to Mumbai’s burgeoning population.” Vihang Sarnaik Director Vihang Group

“The idea of Third Mumbai in the MTHL-influenced area under NTDA, spearheaded by MMRDA, will spearhead infrastructure development alongside real estate projects. Roads, public transport, and social amenities will improve dramatically, further fueling the real estate boom. The upcoming Navi Mumbai International Airport adds another layer of excitement to the “Third Mumbai” story. Imagine sleek aeroplanes landing amidst the burgeoning cityscape, disgorging a stream of business travellers, tourists, and investors. This global gateway will further amplify Navi Mumbai’s commercial and hospitality potential, attracting international brands, conferences, and events, placing the city on the world map.” Madan Jain Chairman- CREDAI-MCHI Navi Mumbai, Chairman Bhairaav Group

“MTHL isn’t just a bridge; it’s a blueprint for Maharashtra’s future. By harnessing its commercial, hospitality, and airport potential responsibly, we can create a new economic powerhouse, a leisure haven, and a model for sustainable urban development. This “Third Mumbai” will attract a skilled workforce, boost property values, and generate significant tax revenue for the state, driving prosperity across Maharashtra. Sachin Marani Director, Square Feet Group