The Western Express Highway, which handles over 60% of the city’s traffic, will be less congested thanks to the Mumbai Coastal Road North project, according to Maharashtra Chief Minister Devendra Fadnavis, who also revealed that the Bandra–Versova stretch is anticipated to be finished by March 2028.
Property markets in Mumbai’s western corridor are expected to be impacted by the project, according to real estate specialists. When the Versova–Bhayandar section is finished, it will provide smooth connectivity between Nariman Point in South Mumbai and Bhayandar in the Mumbai Metropolitan Region (MMR), greatly cutting down on travel time and enhancing accessibility throughout important residential and commercial micro-markets.
Following an inspection on June 14, Fadnavis stated that the Coastal Road will provide smooth connectivity between Bhayandar in the Mumbai Metropolitan Region (MMR) and Nariman Point in South Mumbai once it is finished. While the northern section would increase connectivity from Versova to Bhayandar, the southern section connecting Nariman Point to the Bandra Worli Sea Link went online in March 2024.
Residents of Mumbai will be much relieved by the Coastal Road. We are building a signal-free road from Nariman Point to Bhayandar in order to relieve the strain on the Western Express Highway (WEH), which now handles 60% of Mumbai’s traffic. Our goal is to finish this entire project by October, November, or December of 2028,” the chief minister of Maharashtra stated.
According to Fadnavis, the government intended to finish the Versova-Bhayandar stretch and its connections by December 2028, while the Coastal Road North segment would be finished by March 2028. Additionally, he stated that the state government made the decision to transform the area surrounding the Coastal Road into a contemporary business center along the lines of the Bandra Kurla Complex (BKC).
The implications for real estate markets of the Versova–Bhayandar section of Mumbai Coastal Road North
Residential markets in the western suburbs, such as Bandra, Khar, Santacruz, Juhu, Andheri, Versova, Malad, Kandivali, Borivali, Dahisar, Mira Road, and Bhayandar, are expected to gain the most, according to real estate experts. Developers and purchasers may find these areas more appealing if they have better access to South Mumbai and important business centers.
By enhancing access to the suburbs, the project is also anticipated to boost property values in South Mumbai neighborhoods including Worli, Breach Candy, and Nariman Point. Office markets in Bandra-Kurla Complex (BKC), Andheri, and other western business districts could profit from quicker commutes and easier access in the commercial real estate market.
1) Malad and Goregaon
Over the past 20 years, these have been two of Mumbai’s busiest residential and commercial real estate markets. Local brokers claim that the existence of important commercial centers like Mindspace, NESCO IT Park, Infinity IT Park, Oberoi Mall, and several media and entertainment hubs has greatly increased home demand. Because of its combination of employment prospects, social infrastructure, and accessibility via the Western Express Highway, Metro Line 2A, and the suburban railway network, the micro-market draws both end users and investors.
According to local brokers, capital values have steadily increased over time in Goregaon East, Goregaon West, Malad East, and Malad West. Several luxury constructions in Goregaon sell for more than ₹60,000 per square foot, while premium projects fetch prices between ₹30,000 and ₹60,000 per square foot.
Depending on the location and amenities, the rental prices of a two-bedroom apartment could range from ₹60,000 to over ₹1.5 lakh. According to local brokers, corporate leasing continues to be a major source of demand.
2) Kandivali
However, the Mumbai Coastal Road North will also connect Kandivali. Local brokers claim that Kandivali is mostly a residential and educational center with a number of nearby colleges. According to local brokers, rental costs for a two-bedroom apartment typically vary from ₹40,000 to ₹70,000 per month, depending on project quality and location. Capital values in Kandivali typically range from ₹25,000 to ₹40,000 per square foot, while luxury buildings can surpass these levels.
3) Borivali
Borivali has developed into one of Mumbai’s most popular residential end-user marketplaces. In addition to being close to beautiful areas like the Sanjay Gandhi National Park and the Creek view of the Arabian Sea, the suburb has established social infrastructure and connection. A two-bedroom flat in Borivali can be rented for between ₹45,000 and ₹80,000, while capital values range from ₹30,000 to ₹55,000 per square foot.
4) Dahisar
Dahisar is a reasonably priced extension of the western suburbs and serves as the northern entry point to Mumbai. According to local brokers, the area’s appeal to homeowners has increased due to improved accessibility via the Western Express Highway, Metro Line 2A, and closeness to Mira Road. Depending on the location and quality of the project, capital values in Dahisar might range from ₹18,000 to ₹30,000 per square foot. According to local brokers, a two-bedroom flat can be rented for between ₹35,000 and ₹50,000.
5) Mira Road to Bhayandar
Although it is beyond the city borders, Mira Road-Bhayandar is officially a part of the Mumbai Metropolitan Region (MMR). Due to comparatively low pricing, plenty of land, and better road, rail, and metro connectivity to Mumbai, the area has seen substantial home development. Depending on location and project facilities, the capital prices here range from ₹12,000 to ₹25,000 per square foot, while the rental value ranges from ₹20,000 to ₹40,000 per month, according to brokers.
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