Trans-Harbour Link Will See Drastic Dropdown In Property Prices In South Mumbai & Western Suburbs

The Union ministry of environment and forests decision of granting in-principle approval to the 22km Sewri-Nhava Shewa Mumbai Trans Harbour Link will significantly downsize the skyrocketed property prices in Mumbai and will boom the prices in Navi Mumbai – Particularly in Ulwe and Panvel. According to the government, the Rs. 12,000 crore project will be vital connector for the upcoming Navi Mumbai International Airport and South Mumbai. It will cut down the travel time drastically. It will be a big boost for the Navi Mumbai real estate sector and will also cut the down skyrocketed prices of the South Mumbai

This much awaited project will open the 700 sq.km of land in Navi Mumbai that is hardly 20-25 minutes away from South Mumbai. While buying a house, people look at two things: convenience and location. This link will provide both. The buyers will get lot of options while buying an apartment. It will also put the huge pressure on soaring prices of South Mumbai and western suburb and in the coming days, the property prices of these area will start falling drastically.

Now, this link will provide ample land. The only hunch and fear is that the Cidco – the government planning authority – should not play spoilsport by controlling the land and releasing it in short quantum. The government should monetize the land but it should look at the effective use of land. The land efficiency should be increased. 2015 was a disappointing year for Navi Mumbai but 2016 will be a game changer. "In Navi Mumbai, Ulwe and Panvel areas are the most preferred because of the locations and infrastructure. The future belongs to Navi Mumbai. We have been waiting this link to happen for quite a long time. We are grateful to government taking this project at war footing.

The tender procedure of this ambitious link construction will start in March. "We are planning to do this on the cash contract basis. Interestingly, earlier also, three times the tender was floated but to due to the tepid response the link could not proceed further in the last 15 years. Besides, government is also working out a formal loan agreement with the Japan International Cooperation Agency (JICA) to fund the project. Government wants to complete this link at the same time when the airport gets ready.