What Effects Has Eastern Highway Had On Mumbai’s Real Estate Market?
Mumbai’s Real Estate Market- It is 16.8 kilometres long and also referred to as the Vilasrao Deshmukh Eastern freeway. The Eastern freeway in Mumbai runs from the Eastern Express Highway in Chembur to P D’Mello Road in South Mumbai. This highway’s construction was expected to cost Rs 1,436 crore. The Mumbai Metropolitan Region Development Authority (MMRDA) constructed this highway. The Jawaharlal Nehru National Urban Renewal Mission of the Central Government provides funding for this project. The highway has successfully decreased traffic between Mumbai’s north and south. This section of Mumbai has steel crash barriers and seismic arrestors installed.
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Dr. BR Ambedkar Road, Rafi Ahmed Kidwai Marg, Port Trust Road, & Mohammad Ali Road are some of the main locations this freeway crosses. This toll-free roadway is only open to cars and light-duty vehicles. The cars are only allowed to go 60 kmph at a time. This project was completed by Simplex Infrastructure Ltd. in June of 2013. The main goal of building this freeway was to cut down on how long it took for locals to commute from South Mumbai to the Eastern Suburbs.
Eastern Highway: Sections
There are three stages to the Eastern freeway. In Ghatkopar, the Eastern Express Highway runs along the north side of the freeway. PD’Mello Road in South Mumbai is the southernmost point of this roadway.
Phase 1: Vastu Sangrahalay to Anik Junction via Chhatrapati Shivaji Maharaj
This segment is totally elevate and spans 9.3 kilometres. Through Mumbai Port Trust, it links SV Patel Junction on PD’Mello Road to Anik-Panjarpol Link Road.
Phase 2: Panjarpol-Anik Link Road
Starting from Wadala, the second segment of the Eastern freeway stretches for 4.3 kilometres and ends at Panjarpol Junction on the Sion–Panvel Link Road.
Phase 3: Link Road Panjarpol-Ghatkopar
The final phase spans three kilometres and is entirely elevate. It starts at the Sion-Panvel Link Road’s Panjarpol Junction and terminates at the Chembur–Mankhurd Link Road.
Map of Eastern freeway
Extended Eastern freeway: A suggested route
MMRDA’s Eastern freeway expansion from Ghatkopar to Thane. There won’t be any lanes on either side of the 14 km extension. At Mulund Octroi Naka, Airoli Bridge, Kanjur Marg, & Chheda Nagar, there will be four entry-exit ramps. Commuters from Thane to South Mumbai can travel once this expansion is built.
Real estate effects of the Eastern freeway
There is a favourable correlation between an improvement or construction and the appreciation of that area’s real estate. Over the past ten years, areas such as Orange Gate, Anik Junction, Panjarpol Link Road, Chembur-Mankhurd Link Road, and Orange Gate have experienced growth. As the infrastructure in these areas has improved, the value of homes has gone up by 10–18%. The demand for real estate investments is rising as a result of the extension. All of this influence’s homebuyers’ decisions in a favourable way.
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