Projects adjacent to highways attracting Mumbai homebuyers
With India’s financial capital – Mumbai facing severe traffic woes resulting in time-consuming travel, housing projects located adjacent to the highways have emerged as a hot favorite among new age home buyers. In particular, the western express highway, city’s northern belt, is witnessing key infrastructure addition such as the metro lines, improving east-west connectivity, key business districts and expanding retail and commercial zones, is experiencing a rising demand in small and mid-cap ticket sized houses.
n the post-RERA phase, the northern belt of Mumbai itself witnessed close to 50 odd project launches including the leading brands. “For Omkar Realtors connectivity has always been an important highlight of all our projects; be it BKC, Worli with Bandra sea link as important connectivity as well as Alta Monte in Malad and Omkar International District, Andheri both located WE highway which provides speed gateways to any corner of the city connecting airport, railway stations, business districts, malls etc., at 5-15 minutes driving distance,” says Devang Varma, Director, Omkar Realtors.
With connectivity on western corridor being important for the present government’s infrastructure projects like bullet train, massive high speed 6 lane highways, express corridors and Mumbai metro network, the western express highway belt has seen massive real estate development in last one year. The announcement of newer infrastructure projects in last 12-18 months has resulted in the launch of 112 new residential projects with an inventory of 7827 units in all the configurations right from 1 BHK to 4 BHK in the price range from Rs 75 lakhs to up to 4 crores. With this speedy launch of 112 projects alone in North Mumbai, developers are eyeing big from the unsold inventory.