Bricksnwall Trusted Experts
Mumbai's real estate market will benefit from the
Atal Setu bridge
The Atal Setu is going to be a lifesaver, cutting
down the two-hour journey time between Mumbai and Navi Mumbai to just twenty
minutes. Property values in both cities are anticipated to increase following
the bridge's opening as they are already rising.
Mumbai, equipped with the Metro and expressways, is
ready to devour its gridlock.
The much-anticipated Mumbai Trans Harbour Link was
officially opened by Prime Minister Narendra Modi on Friday. A six-lane
motorway connects Chirle, near Nhava Sheva in Uran taluka, Raigad district,
with Sewri, Mumbai, covering a distance of 21.8 kilometers.
Claimed to be the longest sea bridge in India, it
will transform Mumbai and Navi Mumbai real estate by providing unmatched
connectivity between these two significant centers.
The Atal Setu, named for the former prime minister
Atal Bihari Vajpayee, is a sea bridge that will come in handy as it will
shorten the two-hour travel time between Mumbai and Navi Mumbai to just 20
minutes.
The real estate market in the financial capital is
flourishing because of the new bridge. Property values, which are already
rising, are predicted to rise even further after the bridge is opened.
Revolution in the real estate industry
Because the MTHL bridge increases connectivity and
accessibility, experts have dubbed it a "game changer."
They claim that Ulwe and Panvel, two significant
economic hubs close to the bridge, will see "explosive growth."
"The Mumbai Trans Harbour Link is revolutionary!
Areas like Panel and Ulwe will see rapid growth as travel times between Mumbai
and Navi Mumbai are reduced to only 20 minutes. Professionals looking for
reasonably priced luxury near major business centers are expected to drive up
demand for real estate, according to Manju Yagnik, senior vice-president of
NAREDCO-Maharashtra and vice chairperson of Nahar Group, who spoke with
Livemint.
Important infrastructure, like as the Metro, of
which 46 kilometers are now in use, 337 kilometers are under construction, and
a further 50 kilometers are planned, will be enhanced by the new bridge.
The Mumbai address has changed since a lot of work
has started in the MMR (Mumbai Metropolitan Region), according to Gautam
Thacker, Chairman of NAREDCO Neral-Karjat unit, who spoke with Indian Express.
A large number of purchasers are expressing interest in homes in MMR.
Undeveloped areas will see tremendous expansion due to the MTHL and Navi Mumbai
Airport projects, which are imminent. It goes without saying that connection
promotes real estate development. Real estate prices are rising in micromarkets
like Ulwe, Panvel, and Kharghar, among others, and they will continue to do so.
Mumbai and Navi Mumbai connectivity
Traffic, average travel duration, cost, and fuel
efficiency forecasts
Atal Setu was constructed with monsoon winds and
passenger safety in mind.
During the monsoon, the MTHL will feature lighting
poles that are specifically made to endure strong winds and fitted with a
lightning protection system to prevent any possible lightning-related damage.
In the interim, crash barriers with an overall
height of 1,550 mm that are constructed, tested, and compliant with
international standards will guarantee the safety of travelers. The barriers
are composed of two materials: a 900 mm stretch of concrete and 650 mm of metal
rail. It is compliant with the typical testing and certification process for
road restraint systems, International Standard EN 1317.
The most problematic aspect of the project was the
sea bridge.
The most challenging and labor-intensive aspect of
the project was building the sea bridge, which was constructed at a height of
15 meters above sea level. Engineers and laborers had to excavate as far down
as 47 meters in the sea floor for the marine section. The building of these
portions was made more challenging by the bridge's proximity to sensitive
establishments like ONGC, JNPT, and BARC. Engineers had to take extra
precautions to ensure that they did not harm any underwater equipment, like as
communication cables or pipelines.
Out of the project's almost 5,000 workers, seven
perished.
According to MMRDA records, since work started in
the middle of 2018, 5,403 workers and engineers have worked daily on average to
complete the project. Seven laborers perished during the project's
construction. The majority of the laborers employed were from states like
Maharashtra, Bihar, Odisha, Uttar Pradesh, and Punjab. Nearly all of these
deadly incidents happened while the workers were working on the project's
initial package, which involved building the Sewri Interchange and a 10.380
km-long bridge portion across Mumbai Bay.
According to a Times of India report, Navi Mumbai's lifestyle, efficient commute, and recently improved connectivity would pique the interest of homebuyers. It also has lower real estate rates. According to Bhavesh Shah, joint managing director of Today Global Developers, who talked with the daily, there are still affordable property alternatives in Navi Mumbai for between Rs 30 lakh and Rs 40 lakh.