Eastern Expressway to influence real estate in Mumbai
MUMBAI: The long awaited, 16.8 km Eastern Freeway’s first phase will be open for traffic by May end. Eastern Freeway will provide a signal free drive from Orange Gate on PD’Mello Road to the Ghatkopar-Mankhurd Link Road. This freeway will not only reduce the travel time from South Mumbai and Eastern Suburbs but will also improve the traffic movement towards Thane, Navi Mumbai, Nasik and Pune.
The Eastern Freeway is divided into three phases, 9.3 km long elevated road from Orange Gate to Panjarpol near Chembur, 4.5 km mixed road-tunnel-flyover connecting Chembur and Anik , 2.5 km flyover from Panjarpol to Mankhurd – Ghatkopar link road( MGLR).
There are in total eight entries and exit points to the Freeway, six pair of these ramps will be operational with the completion of the first phase and the remaining two are expected to be open by the end of August.
According to real estate experts the upcoming infrastructure developments like the Eastern Freeway, the Santacruz Chembur Link Road , the Chembur-Wadala-Jacob monorail, upcoming rail and metro will improve the connectivity of Chembur with the office destinations like Bandra – Kurla Complex and other, this will increase the demand of residential units in Chembur. Further, the expert ads that see link and the Expressway will also improve the connectivity of Nariman point (the established business district) to the upcoming residential areas like Ulwe and Dronagiri. Once the Eastern Freeway will be operational, the Northern, Eastern Suburban areas, Ulwe and Dronagiri will have great real estate potential.
Industrialist Mukesh Ambani is also betting high on these infrastructural developments and along with his close aide Anand Jain, is planning to launch Mumbai’s biggest township in Navi Mumbai. Lodha Group has also launched Project “New Cuffe Parade” near IMAX Dome on the Eastern Freeway.
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