Mumbai Nagpur Expressway New Route : Impact On Real Estate Market
Mumbai and Nagpur are the two ends of Maharashtra. The upcoming new Mumbai Nagpur Expressway route will connect these two capital cities of Maharashtra and the present traveling distance of 16 hours will reduce to 8 hours.
The news of this upcoming Mumbai Nagpur expressway will soon become reality and if everything goes well then it will get accomplished in May 2022. It will be 710 Kms smoother and 8 lanes wider expressway.
This new route is named ‘Maharashtra Samruddhi Mahamarg’ and the Rs 55,000 crores, have been sanctioned by the government to built this Expressway. Till now 8,60o hectares of land have been acquired for this project.
The Expressway will run through 10 different districts, 26 tehsils, and 390 villages of Maharashtra. So, here in this article, we will be discussing in detail the Mumbai Nagpur Expressway Project and the impact of this project on the Real Estate Market.
Land Acquisition
The land acquired for this project is in progress and under the pooling model in which the farmer will get 30% of developed land elsewhere nearby their farm. And will get additional Rs. 50,000 per hectare for nonirrigation and Rs. 1,00,000 for irrigated land every year for the next 10 years after land acquisition.
Mumbai Nagpur Freeway: Route Map
Nagpur-Wardha-Amravati-Washim-Buldhana-Jalna-Aurangabad-Nashik-Ahmednagar-Thane will be connected under this route of the 710-km super expressway. The route will have a total of 50 flyovers, 5 tunnels, 300 vehicular underpasses, and 400 pedestrian underpasses. The tentative approximate toll will be Rs 1,200 for one-way travel, which will be collected over a period of 40 consecutive years. It is expected that around 30,000-35,000 vehicles will use the expressway on a daily basis.
The Work in Progress To Get Accomplished Till May 2022
MSRDC (Maharashtra State Road Development Corporation) has divided the project into 5 different packages and also has hired a separate consultancy to prepare detailed project documentation and reports for each different packages. The CIVIL work is further divided into 16 packages which will be tendred differently.
The project is supposed to get accomplished in May 2022 against the earlier target of December 2021. However, the 520-km stretch between Nagpur and Shirdi would open for vehicular movement on May 1, 2021. The project will also accompany different township projects along the route and the development plan for eight such townships is also ready for development.
The Project Will Have Dedicated Green Corridor
The project will have a green corridor where 12.68 lakh trees will be planted along the expressway. However 12.87 lakh small plants and shrubs also will be planted on the road divider of the expressway. Moreover, 3.21 lakh shrubs will also be planted inside the compound wall. This green corridor project will cost approximately Rs 900 crores, which includes the maintenance cost for 7 years from the development of this green corridor.
The Impact On Real Estate Market Of Upcoming Mumbai Nagpur Expressway
The efficient and smooth connectivity always brings prosperity it has been proved with the modern civilization travel structure. The more you are connected to the world more will be the economical development of that region. Since Mumbai is efficiently connected by air, water, and roadways, it is the commercial capital of India.
Infrastructural development always brings better life experience, since this Expressway is passing through some of the less developed areas of Maharashra is expected to get a benefit from this project.
Industrial growth is also expected in the area nearby Mumbai Nagpur Expressway. Presently the state rural area is completely dependant on the Agricultural land for their sustainability. This Expressway could boost the local economy as with the ease of travel anyone can import or export the things easily whichever are requirements for industrial operation.
Especially Nagpur could see the real estate sector development growth which was seen development at a very lower pace because of the lack of growth drivers in the city.
Frequently Asked Questions
Que: When Will the Mumbai Nagpur Expressway Get Into Operation?
Ans: The Mumbai Nagpur Expressway will be in operation from May 2022.
Que: When was this project construction started?
Que: How Much Time it Will Take to reach Mumbai from Nagpur?
Ans: It will take 8 hours to reach Mumbai from Nagpur.
Project Timeline
| 1 | Consultants Appointed | |
| 2 | Bids opened for civil works | |
| 3 | The actual Land acquisition process started | |
| 4 | MSRDC opened financial bids submitted by qualified contractors | |
| 5 | Maharashtra Cabinet gave its official approval for the Concession Agreement for the project. | |
| 6 | Bidders were identified for thirteen packages | |
| 7 | 90% of land acquisition is done. Work was divided into 16 packages, contractors were assigned and to start Work in December. | |
| 8 | PM Narendra Modi performed a groundbreaking event for the project on 18-December-2018. | |
| 9 | Road construction started for actual. | |
| 10 | Expressway to be ready by the year 2022, says Maharashtra PWD minister Eknath Shinde. | |
| 11 | 22% of work completed for the expressway. | |
| 12 | 86% of land acquisition done. Road construction progressing. | |
| 13 | 40% work completed. 623 km stretch between Igatpuri to Nagpur is expected to be ready and opened by Dec 2021 and the remaining stretch between Thane and Igatpuri to take additional months to get accomplished | |
| 14 | Nagpur to Shirdi stretch of 520 km to become operational by May 2021, and full expressway to become operational by May 2022 | |
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Samruddhi Mahamarg: Route Map, Cost & Status of the Mumbai-Nagpur Expressway
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