Driving Growth: How Infrastructure Developments in MMR are Fueling a Real Estate Boom

By LODHA

Amidst India's rapid urbanization, the real estate sector is undergoing substantial growth, propelled by government initiatives advocating for extensive roads, highways and public transport infrastructure. In this landscape of transformation, Mumbai, with its bustling streets and iconic skyline, has always been at the forefront of urban development. The city's pivotal role is further underscored by the completion of key infrastructure projects, sparking a notable real estate boom. Examining instances such as the Eastern Freeway (32% surge in residential rates in Chembur & Wadala), Metro Line 1 (24% growth in property values in Andheri and Ghatkopar) and the Santacruz Chembur Link Road (27% increase in residential rates in Santacruz and Kurla).

Furthermore, ongoing and upcoming projects such as the Thane Dombivli Link Road (TDLR), Maha Samruddhi Mahamarg, and the expansion of the Mumbai-Nashik Highway are set to provide an additional impetus to the real estate sector. The Thane Dombivli Link Road, for instance, has already spurred a noteworthy 23% growth in Upper Thane, underscoring the anticipatory impact of strategic infrastructure on property values. 

Factors Fueling the Real Estate Growth in the MMR region

Enhanced Connectivity

Improved accessibility is often a key factor influencing real estate investment and development. The primary goal of these projects is likely to improve the connectivity between key locations in the Mumbai Metropolitan Region (MMR) and beyond. This enhanced connectivity can significantly impact the real estate industry by making areas like Thane, Dombivli, Nashik, Nagpur, etc. more accessible to commuters and businesses. 

For instance, the Thane Dombivli Link Road is set to enhance connectivity between Thane and Dombivli, the expansion of the Mumbai-Nashik Highway will bring advantages to Mumbai and Nashik, and the Samruddhi Mahamarg route is expected to benefit regions such as Mumbai and Nagpur. Nonetheless, the impact of these developments will extend to other areas along their respective routes.

Shaping Demand Dynamics

The implementation of effective transportation infrastructure in the MMR region has led to a transformation in demand patterns. Regions once deemed remote or less accessible now garner appeal owing to enhanced connectivity. This transformation catalyses a significant upswing in property demand, subsequently influencing property values in these localities.

Integrated Transportation Networks

One of the key drivers of real estate growth in MMR is the comprehensive overhaul of transportation networks. Mega projects like the Mumbai-Nashik Highway and  Maha Samruddhi Mahamarg are anticipated to stimulate economic activities. Furthermore, given the highway's seamless connectivity to the Delhi Mumbai Expressway, Jawaharlal Nehru Port Trust in Mumbai, and the Nagpur-Multimodal International Hub Airport, this initiative is positioned to emerge as a central hub facilitating expanded trade operations.

Economic Corridor Development

With reduced travel times, commercial establishments and businesses may find it more appealing to set up offices in these neighbourhoods. Concurrently, there has been a rise in job opportunities, drawing in a growing number of professionals and workers to these regions. This surge in employment is generating an increased demand for housing, with Thane-Dombivli experiencing a notable uptick in residential projects as the area transforms into a dynamic economic hub.

Infrastructure-Driven Appreciation

The infusion of these infrastructural projects has increased the demand for homes and led to a significant appreciation in property values. With enhanced connectivity, improved amenities and the promise of a thriving economic landscape, property values have seen a consistent upward trajectory. Investors and homebuyers alike are recognising the potential for long-term returns on their investments.

Quality of Life

The infrastructural developments have focused on connectivity and brought about improvements in the overall quality of life. The regions are witnessing the development of green spaces, recreational facilities and better civic amenities. This holistic approach to urban planning is further attracting individuals and families to make these areas their home.

Lodha Villa Royale: A Rare Living Experience in the Mumbai Region 

Among the notable housing projects in Thane is Lodha Villa Royale. This project has already witnessed an impressive ~40% appreciation even before residents have moved in, underlining its appeal and potential. Nestled near TDLR Thane, Lodha Villa Royale is set to redefine the real estate landscape of this region by offering residents a lifestyle that transcends the ordinary. A dream home where you are the master of all you survey, from the name on the gate to the land your villa stands on. Set amidst a verdant expanse of nature, Lodha Villa Royale is an all-villa estate with a serene lake, tree-lined avenues, wide open spaces and a like-minded neighbourhood who have chosen to live on their own terms, on their land. The luxurious finished villas are designed by renowned celebrity interior designer Sussanne Khan while the structure is designed by the well-known architect Hafeez Contractor.