MTHL i.e., Mumbai Trans Harbour Link is the much-awaited and most coveted project for Mumbai and Navi Mumbai. It is not just a bridge connecting two cities but a roadway to impending exponential growth. Infrastructure lays a solid foundation for the overall progress of a region. It substantially impacts the property markets and living standards of the people. Panvel and adjoining areas within Navi Mumbai are experiencing a remarkable realty boost with the development of MTHL. The announcement and initiation of the project work sparked confidence among developers regarding forthcoming opportunities. Since its inception till now, property prices have doubled in the areas near the Mumbai Trans Harbour Link.
Mumbai Trans Harbour Link is a 21.8 Km expressway over Thane Creek. Following its implementation, it will be the longest sea bridge in India. MTHL starts from Sewri in Mumbai and ends at Nhava Sheva in Navi Mumbai. MTHL is an ambitious alternative for travelling to and fro between Mumbai and Navi Mumbai. It will not only reduce the travelling time between Mumbai and Navi Mumbai but will also decongest overall traffic movement. Currently, there are only routes towards Mumbai from Navi Mumbai. One is through Airoli towards the central line and the other one is the Vashi bridge towards CST through the eastern freeway. The increasing migration of the population in Navi Mumbai has led to the saturation of traffic movement. The existence of this new route was the need of the time.
Mumbai Trans Harbour Link is now nearing completion. 96% of its work is completed as Dr. Sanjay Mukherjee, the Commissioner of Mumbai Metropolitan Region Development Authority (MMRDA), comprehensively inspected this massive project. The project comprises an Orthotropic Steel Deck (OSD) ranging from 65 meters to 180 meters in length. This ambitious project is being developed using Japanese state-of-the-art technology. As stated by Dr. Mukherjee, this project will increase the state’s GDP and the nation’s GDP by an estimated 5% and 1%, respectively. Several sectors will be stimulated with the implementation of this project. Real estate has been surging upwards since the commencement of the project work. The core and surrounding regions of the projects have witnessed remarkable price appreciation in the last few years.
Mumbai Trans Harbour is proving to be the game changer for Navi Mumbai. Homebuyers are getting attracted towards the properties in the adjoining regions. Considering the bustling lifestyle of MMR, modern homebuyers are turning towards regions of Navi Mumbai, including Kharghar, Panvel, Ulwe, etc. These regions provide comparatively lower prices, huge scope for spaces, sustainable environment and assured fast-track development. Panvel has become the centre point of numerous ambitious infrastructural and residential developments. It is gaining prominence owing to its well- networked transportation web. Developers are keen to explore and invest in this flourishing residential market. Panvel is strategically located with smooth road and railway connectivity with major parts of the State. The speedy development of D B Patil International Airport along with MTHL is highlighting the potential of Panvel in property price appreciation and lifestyle augmentation.
Mumbai Trans Harbour Link work will be done by December 2023. Once it is operational, the current competitive prices of properties will increase further. Panvel’s proximity to commercial areas in Navi Mumbai such as Airoli, Ghansoli, CBD Belapur, etc., attracts homebuyers for a balanced personal and professional life. Following the implementation of projects like MTHL, DB Patil International Airport, Panvel-Karjat and Panvel-Uran railway line, business stalwarts are acquiring lands for their commercial base in prominent locations of Navi Mumbai. Considering all these factors, the housing demand is splurging in Panvel. Against the backdrop of rapid transit development and infrastructural boost, property prices in Panvel foresee an assured appreciation.