MTHL Will Lay Foundation Of New Megapolis, Says CM Eknath Shinde

The Maharashtra Chief Minister Eknath Shinde earlier this week said that the upcoming Mumbai Trans Harbour Link (MTHL) would lay the foundation of a new megapolis and would play an important role in boosting the state's economy. Deputy CM Devendra Fadnavis added that the MTHL is not just a bridge but an economic growth corridor. Both the Chief Minister along with the Deputy Chief Minister visited the MTHL site to mark its milestone with the last steel deck span, ‘the Golden Joint,' providing an uninterrupted link between the two ends of the bridge. A vehicle can now travel across both ends of the bridge, making the bridge technically complete.

The 21.8 km long MTHL will be a great economic booster in the development of the Navi Mumbai and Panvel region. Travel time will reduce to just 20 minutes once operational. It will also be connected to the Mumbai - Pune Expressway through an elevated corridor. This will benefit frequent travellers commuting between Mumbai and Pune. The Navi Mumbai region is being developed as the next Mumbai 3.0. Apart from economic benefits, the region also offers home buyers serene surroundings, a pollution-free environment and an improved quality of life.

With improved connectivity and reduced travel time, home buyers will find it beneficial to buy a larger house here in Navi Mumbai and at a much lower cost rather than buying a more expensive and smaller house in Mumbai. Many reputed developers are coming up with integrated townships with larger homes and independent houses like bungalows, villas etc, that ensure an enhanced and holistic lifestyle amidst the nature in the Panvel region in Navi Mumbai, and it is exciting for end users looking for such a lifestyle. In recent times, the region has emerged as the hub for smart residential townships, good road and railway connectivity and growing infrastructure. The ongoing infrastructural development, such as the Navi Mumbai Airport and Mumbai Trans Harbour Link, will also result in exponential demand among C-suite and HNI homebuyers. Even the location has created a lot of investment opportunities from the NRIs and local investors owing to the future appreciation of property prices.

Many businesses are expected to move to the MMR region as prices will be more competitive there, as compared to Mumbai. Panvel has excellent connectivity with Mumbai and Pune, in addition to being the railroad gateway for trains travelling from the north all the way down to the south of India, giving it that edge over other cities in the region.

Panvel and the Navi Mumbai region is all set to be the next big realty destination after Mumbai. Property prices are set to move up given that MTHL will be operational this year, and the Navi Mumbai International Airport is also on the fast track for completion.

The Navi Mumbai International Airport is slated to create an estimated 1,42,000 direct and 200,000 indirect jobs, in the first phase of development; expected to be operational by 2024. A quick mass transit system has been planned and approved by the government for a new 33.15-kilometre Metro Railway project connecting Navi Mumbai International Airport with Mumbai's Chhatrapati Shivaji Maharaj International Airport.

Navi Mumbai is being planned as the new data center hub of the country. The state government is mulling on building several data centers wherein 65 per cent of India's data capacity is planned to be developed here in Navi Mumbai itself. Plans to develop Navi Mumbai Integrated Industrial Township as the new IT and service sector hub of Maharashtra is also on the anvil.

The present government has laid major emphasis on infrastructure development across the country. Large and important infrastructure projects such as MTHL and Navi Mumbai International Airport have been put on the fast track for completion. These projects, once completed, will bolster the economic development of the Navi Mumbai and Panvel region and the economy of the country as a whole.