Santacruz-Chembur Link Road impacts Mumbai realty
Santacruz-Chembur Link Road (SCLR) is India’s first double decker flyover. The work for the project was undertaken under the Mumbai Urban Transport Project of MMRDA. Starting from Vakola Junction on the Western Express Highway and extending up to Amar Mahal Junction near the Eastern Express Highway, it provides the much-needed east-west connectivity in Mumbai.
Short term impact:
Transportation infrastructure has always had a positive impact on the real estate. Homes and offices located near the transportation infrastructure command a premium because of the increased accessibility. Kurla, Sion, Vidyavihar and Chembur may see a lot of constructions in time to come. Chembur’s property prices have already jumped 25% due to mega-projects like the Eastern Freeway, Monorail, Metro and now SCLR.
Midterm impact:
As expected, the time required for commuting between Bandra-Kurla Complex from the eastern suburbs has significantly reduced. Property market in the western suburbs and BKC is going to be positively impacted due to reduced load on Jogeshwari-Vikhroli Link Road and Sion-Dharavi Link Road. The traffic in areas such as Amar Mahal Junction in Chembur, Vakola in Santacruz, parts of Sion and Kurla is also expected to be reduced pushing up liveability quotient of these areas and the property prices.
Long term impact:
Companies value shorter commuting hours for their workforces. Residential absorption is bound to increase in the eastern suburbs particularly in BKC as it will have improved connectivity significantly decreased travel time. As a result of the improved linkage with the eastern suburbs, supply and absorption will both rise in SBD North. The difference between the east and west suburbs has become more prominent as most of the infrastructure projects are happening in the eastern suburbs.
Source: Indian Express
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