The growth and development of Navi Mumbai in the last few years have been quite remarkable. Although the initial purpose was to reduce the burden of traffic and population from Mumbai. At the same time the aim was also to escalate the infrastructural growth of the city. But today the rapid development of technologies, roads, and other amenities of Navi Mumbai has attracted people from all corners of the nation and world.
In the last few years a huge number of initiatives by the Mahrashtra Government have changed the very face of the city. The successful implementation of many new projects and policies both in the urban, suburbs and the peripheral regions have brought a huge change in the real estate scenario of the city.
1) Mumbai Metro:
The Mumbai Metro is a major transport project of the entire nation. It comes under the Mass Rapid Transit System (MRTS). At present Metro operates in the metro cities of Kolkata, Delhi, and Bangalore. The project controlled and supervised by the Anil Dhirubhai Ambani Group's Reliance Infrastructure Ltd. along with MMRDA Mumbai Metropolitan Region Development Authority (MMRDA).
2) Mumbai Monorail:
The monorail is an uniqueness of the city at present. It is basically a rail-based transportation system which is also part of the communication and transport expansion plan of both Mumbai and Navi Mumbai . The Mumbai Monorail is the first monorail of the entire nation. This is being implemented by Mumbai Metropolitan Region Development Authority, along with Larsen & Toubro (L&T) and a very popular Malaysian infrastructure firm Scomi Engineering. The Monorail is quite an interesting development and example of technological and infrastructural development of the city.
3) Eastern Freeway:
The Mumbai Eastern Freeway is another pride of the city. It reduces the congestion and huge traffic of the city to a large extent. It is a 16.8 kilometer long highway designed to reduce the burden of traffic and to connect the city to other parts easily within a short period of time. It is built between Fort in South Mumbai and Eastern Express Highway in Ghatkopar. The Eastern Freeway was constructed by the Mumbai Metropolitan Region Development Authority.
4) Santacruz - Chembur Link Road:
5) Sahar Elevated Access Road:
Apart from the above mentioned roads, highways and constructions many other roads and links have been built up in near past and some are still under construction. These developments show that the commercial capital of the nation is undergoing tremendous development. Yes, problems are there but these problems and lack of growth in certain fields can be overcome if the central and state Governments jointly take some initiatives. The real estate business at present is going through a low phase due to inflation and huge property rates. But the pace of development is definitely a positive phase and is surely to impact the real estate business positively. Investors can never remain aloof from investing in Mumbai or Navi Mumbai since the scope of development still remains huge and the Central Government along with Maharashtra Government is taking lot of efforts to alter the boom scenario of real estate in the city.