The Impact Of The Mumbai-Goa Highway On Real Estate

After a decade of building, the under-construction National Highway (NH) 66, often known as the Mumbai-Goa Highway, has finally reached its last stretch. Following the recently stated completion date, the four-lane expressway has sparked interest in residential real estate growth across Maharashtra and Goa.

The Mumbai-Goa Highway is a 471-kilometer project in western India that has been delayed for almost a decade. The four-lane motorway will link Panvel in Mumbai with Pollem in South Goa, making commutes easier. According to the latest update from the Central Government, the project began in 2011 and will be completed by May 2023.


The Impact of the Mumbai-Goa Highway on Real Estate


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The pause

Numerous factors hampered the timely construction of the Mumbai-Goa Highway, from delayed forestland acquisition to compensation concerns plaguing the acquired land. Nonetheless, according to a recent announcement from the Public Works Department, the project is nearing completion. Approximately 67 percent of the section has been completed, with construction on the remaining portion continuing apace.

The project entails extending the current highway to make it a four-lane highway that will go through Raigad, Ratnagiri, and Sindhudurg. Several contractors have been replaced for over a decade in order to speed up the project and fulfil the deadline.


The advantages

The Mumbai-Goa highway project is projected to cut travel time between the two cities to six hours. The project’s main benefits include making commuters safer by lowering accidents and increasing tourism in India’s western coastal towns and states.

The roadway has been the scene of several events and disputes since its establishment. The majority of the discussions focused on the road’s condition. Some, however, included forest land acquisition, toll levies, and traffic congestion.

The Maharashtra High Court has been keeping a close eye on the project. It has intervened on several occasions to resolve political party issues, public interest litigation (PIL), and events caused by poor road condition and construction.


The Mumbai-Goa Highway Project includes the following cities.

The Mumbai-Goa Highway would connect the country’s most important cities and communities along the country’s western coast. These are some of them:


The Impact of the Mumbai-Goa Highway on Real Estate











































The highway continues through the country’s southern coastal districts, connecting major states such as Karnataka, Kerala, and Tamil Nadu until terminating at Kanyakumari.


Expected Ribbon Development on Maharashtra’s Mumbai-Goa Highway

The project’s completion schedule has stimulated demand for residential plots and farmhouses in and around the Mumbai-Goa Highway’s neighbouring areas, such as Raigarh. “The market for residential units has been consistent in the region,” Broker, PV Enterprises, “since potential purchasers are more focused on residential sites such farmhouses and agricultural lands along the highway.” The demand for land parcels has increased by roughly 25%, which is readily fulfilled by the plentiful supply of huge property tracts for sale. The typical land price in Raigarh and its environs is 12-15 lakh per acre.”

“Since the project’s inception, the land along the Mumbai-Goa Highway has been a favourite investment location for real estate investors,” 


Mumbai-Goa Highway: Goa

In contrast to Maharashtra, Goa’s real estate market has been unaffected by the recent construction of the Mumbai-Goa Highway. The Mumbai-Goa Highway, according to industry analysts, has failed to generate any excitement in the city’s real estate market. Because of its culture and celebrity, real estate in North and South Goa is still at its peak, attracting visitors and real estate investors.

However, the announcement of the Mopa International Airport has had an impact on real estate in North Goa, with prices in several locations rising. Aside from that, the scarcity of land and homes in the face of increasing demand has been a key development factor.

In recent years, the impact of the Mumbai-Goa motorway on residential real estate has been limited. However, as the completion date approaches and developers express interest along the route, progressive growth in the Mumbai-Goa highway’s surrounding districts is likely.



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Disclaimer: The views of this expressed above are for informational purposes only based on the industry reports & related news stories. does not guarantee the accuracy of this article, completeness, or reliability of the information & shall not be held responsible for any action taken based on the published information.
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