Infrastructure leads development

For any city, its infrastructure is a matter of pride. From roadways, railways to airports and other smart-city initiatives, the last few years have witnessed a phenomenal change in the sector, leading to world-class facilities. In the case of Mumbai, the last couple of years have been quite eventful in terms of infrastructure initiatives which would not only go a long way in improving the quality of life for residents but also in creating new growth centres towards sustainable development of the MMR. The Mumbai Metropolitan Region Development Authority (MMRDA) has recently commissioned key infrastructure projects, which include the monorail, the Eastern Freeway and metro, which has cut down the travel time between central and south Mumbai. Dhruv Jaywant, CMO, Ahuja Constructions, says, “Each of the transport infrastructure initiatives have had a major effect on the adjoining realty micro-markets.“

The north-south commute in the city has been given a lot of importance, since the city of Mumbai is geographically vertical. The Santacruz Chembur Link Road aims at improving the east-west connectivity of the city. It is a 6.45-km long road running from Dr Hans Bhugra junction in Santacruz east and running to the east, skirting the Vidyanagari Campus (Mumbai University at Kalina) on its south and meeting Lal Bahadur Shastri (LBS) Marg after crossing the Meethi River Bridge. It is a six-lane road and also consists of India's first double-decker flyover.

The game-changer for the real estate market, according to property experts, would be the nine metro rail corridors. The first of the metro rail between Versova and Ghatkopar via Andheri is operational and has reduced the travelling time from 90 min utes to 21 minutes. Another metro project the Mankhurd-BandraCharkop-Dahisar route is in the pipeline, which will spread over 40 kms and is likely to take off in the next couple of years. The work for the metro project between Colaba in south Mumbai to Seepza business hub in the western suburbs, is expected to start this year, which will be completely underground. The metros will be made to serve the busiest routes, hence, reducing the load on other forms of public and private transport.Implementation of phase-II and III would help the formulation of a metro grid connecting Charkop in the north, to Mankhurd in the east and Colaba in the south, to Seepz in north central Mumbai. This would further boost the reduction in average travel time for a Mumbaikar between his place of residence and his place of work.

Further, planned extension of the metro line from Thane to Kasarwadavli, would boost transport connectivity to the north-western areas of Thane. Shashank Paranjape, managing director, Paranjape Schemes (Construction) Ltd, feels, “The Metro will change the total dynamics of infrastructure in Mumbai. The Versova to Ghatkopar phase-I of metro rail became functional in June 2013. Normally, this stretch by road required 90 minutes for travelling. This was reduced to 21 minutes. This has been of great utility to areas around Versova, Andheri, Ghatkopar, Chakala, Airport Road, Marol Naka, Sakinaka, and Asalpha.

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MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.