In 2009, the Bandra-Worli Sea Link heralded the start of several infrastructure projects in the financial capital
The Bandra-Worli Sea Link has reduced travel time between Bandra and Worli during peak hours from 20-30 minutes to 10 minutes
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In the early 2000s, driving from Bandra to the southern parts of Mumbai was at least a 30-minute struggle. That changed in 2009 when the Bandra-Worli Sea Link brought the suburbs closer to the city. It now takes just 10 minutes to get from Bandra to Worli.
Fast forward 15 years and it’s clear that the 5.6 kilometre-long cable-stayed bridge heralded the start of a new era of infrastructure projects in the city. These projects that span roadworks, the rail network as well as slum redevelopment took time to plan and execute and have, in the years to come, the potential to remake the city.
Since then, there have been upgrades to the city’s road network. The Eastern Freeway has been operational since 2013 and has cut down the travel time from the eastern suburbs to the city. More recent additions include the Mumbai Trans Harbour Link connecting Sewri to Nava Sheva. Both these will most likely be overshadowed by the grandest project of them all—the first phase of the Coastal Road connecting Marine Drive to the Bandra-Worli Sea Link. The total cost for all three projects: ₹26,000 crore.
The road works have provided a fillip to real estate projects located on its periphery. For instance, in Ulwe in Navi Mumbai, real estate prices are up from about ₹6,000 a square feet to ₹11,000 in the last decade. Buyers have factored in both the increased connectivity from the Trans Harbour Link as well as the Navi Mumbai airport.
“A key change between now and say, when the Bandra Worli Sea Link was completed, is that earlier, people never thought these projects would get completed on time. Now, the moment a project is announced or when construction starts, real estate project pricing in the vicinity starts factoring in that immediately,” says Vishal Bhargava, a real estate columnist.
(This story appears in the 31 May, 2024 issue of Forbes India. To visit our Archives, click here.)