Infrastructural boost is pivotal in accelerating real estate growth in the Mumbai Metropolitan Region. The city and the state have become an economic powerhouse for the nation’s development. Among many developments in the MMR, one of the key infra developments that will reshape the connectivity between Mumbai and Raigad is the Virar-Alibaug Multi-Modal Corridor. It will not only upgrade the transit infrastructure but will have a prominent ripple effect over adjoining cities. Panvel, one of the major micro-markets in the MMR, will be deliberately impacted by this project. It will be at the central point of this ambitious route. Thus, it is poised to revolutionize the overall growth of Panvel’s real estate.
Virar Alibaug Multi-Modal Corridor spans over 126 kilometers, connecting Virar and Alibaug, and will be developed in two phases. This new route will reduce the travelling between Virar and Alibaug by 50%. It will incentivize seamless connectivity while integrating various other transport modes. This will offer various modes to commuters for navigation. As it passes through the Mumbai-Satara Highway, it will also allow commuters from MMR to reach Goa in less time. With enhanced accessibility, homebuyers and businessmen will be attracted to Panvel, and a smooth transit system will enable them to connect with economic hubs in Mumbai and Navi Mumbai. This ambitious initiative will catalyze the development of Panvel. It will attract investors seeking business expansion outside the saturated urban centres. Panvel is poised to become a central hub of remarkable economic upheaval in the Mumbai Metropolitan Region.
The prospect of a reliable commute and upgraded infrastructure will drive residential and commercial demand for Panvel. It is already a preferred location for numerous homebuyers, owing to lower prices, the scope of expansive spaces, and a comparatively sustainable lifestyle. Reputed developers are exploring and expanding their horizons in this booming market. There have been notable land acquisitions in Panvel by eminent developers to capitalize on the evident potential of this booming city. According to recent market reports, Panvel has experienced an average of 10-15% price appreciation in the last five years. Following the announcement of this transit project, experts predict around 20-25% appreciation in the current property rates over the next decade.
Virar Alibaug Multi-Modal Corridor will act as a link connecting Navi Mumbai International Airport, Atal Setu (MTHL), and several major routes. Further, plans are being implemented regarding the widening of the Vadkhal-Alibaug and Mumbai-Goa roads within the ambit of the Virar-Alibaug Corridor to enhance connectivity on a larger scale.
Recognizing the untapped potential of Panvel, Belmac has acquired land parcels in the city to take full advantage of this flourishing city. With a positive response to our existing project, Belmac Riverside, we are firm in developing exceptional residential projects, heeding the modern aspirations of homebuyers. We are aimed towards offering a phenomenal lifestyle at affordable rates.
