Transportation projects are vital since they improve connectivity and lay the path to bring developments to an area. The positive impact by such projects is seen in the real estate sector as it leads to property-appreciation.

In light of this, a positive move has been made by the Mumbai Metropolitan Region Development Authority (MMRDA) in the form of a proposed Metro rail. This Metro rail will run parallel to the Mumbai Trans-Harbour Link and would bridge the distance between the Navi Mumbai's residential nodes and south Mumbai. Officials say the addition of Metro tracks would bring travel time along the 22-km route down to 35 minutes.

According to the officials, the new design and the proposal would later be forwarded to the state cabinet for approval; once the plan gets the go-ahead, the tendering process would start. The new Metro corridor will reach Belapur where it would meet the proposed Mankhurd-Panvel Metro Corridor. On the Sewri side, the Metro would be attached to the third Colaba-Bandra-Airport Metro line at Prabhadevi.

Besides the proposed Metro rail, another transportation project that is slowly taking shape is the much awaited Mumbai Trans-Harbour Link (Nhava-Sewri link). Since this project did not attract bidders to develop it, the MMRDA undertook the task of constructing the same. The MMRDA is now preparing a fresh financial model for this project. It has roped in KPMG for the same and the financial model will be ready within three weeks. This report will then be submitted to the cabinet for approval.

News impact on Expat Properties:

In the immediate future these transportation projects are set to transform the real estate potential of Navi Mumbai and the adjoining areas. Together with the upcoming Navi Mumbai International Airport, these projects will bring businesses and increased trade to Navi Mumbai and the surrounding areas.

In anticipation of the ensuing realty appreciation that will take place in these regions, Expat Properties set up its projects in Panvel, Khalapur, Karjat and Mahad areas. It must be brought to note that recently the World Bank conducted a study to assess the impact of the Pradhan Mantri Grameen Sadak Yojna (PMGSY), launched in 2000 to connect about 180,000 villages nationwide. Under the Yojana, almost 3, 75,000 km of new roads are being built and 3, 72,000 km of existing rural road upgraded. One of the important revelations of the study was that land prices increased by 60-80% on an average.

This revelation from the World Bank study emphasizes the impact that transportation projects have on real estate.

As land prices increase, so does the return on land investment. With this in mind Expat Properties invites you to invest in the realty projects which are competitively priced and have the potential to bring steady appreciation.

For more information visit:

'Fresh financial model for trans-harbour link', The Indian Express, December-21-2009.
'Proposed Metro over sea will cover 22 km in 35 mins', The Times of India, December-23-2009