Mumbai: Goregaon-Mulund Link Road status and impact on real estate

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Goregaon-Mulund Link Road

One of the most significant projects of the Brihanmumbai Municipal Corporation (BMC), the Rs 3,800 crore Goregaon-Mulund Link Road (GMLR) has inched closer to reality post the approval from the Sanjay Gandhi National Park (SGNP) Authority. As opined by the experts, the said project is likely to be a game changer for the real estate markets of the adjoining areas such as Mulund, Nahur, Airoli, and Kanjurmarg.

BMC, in its recent budget, has sanctioned Rs 100 crore for the completion of GMLR. The project will be the fourth in a row to connect the Western and the Eastern Suburbs post the Santacruz-Chembur, Andheri-Ghatkopar, and Jogeshwari-Vikhroli Link Roads. Moreover, it is likely to have a negligible impact on the ecosystem as no trees will be razed off during the entire construction process. Further, on a positive note, the said road will not only ease traffic congestion and improve connectivity between East and West Mumbai but will also boost the realty prospects in the adjoining areas, which predominantly includes Mulund in Central Mumbai.

What is GMLR project?

The proposed GMLR project is a twin-tunnel road comprising six lanes. It will start near Film City and end at Mulund East, while covering a 5 m underground stretch at the Sanjay Gandhi National Park (SGNP). The total length of the GMLR is 14 km. The road, which was likely to pass through Aarey Milk Colony’s main road initially, invited massive concerns from the environmentalists who opposed the project on the grounds of possible negative impact on the biodiversity of the area. In the wake of such concerns, the plan was replaced with a tunnel below SGNP. Subsequently, the project received clearance from the SGNP Authority, which is now of the belief that creating an underground stretch would help avoid any adverse effect on the flora, fauna, and the water supply system in the area. The project has already received approval from the Maharashtra Board of Wildlife and eco-sensitive zone clearance from the State.

Impact on real estate

Mulund, which is already one of the fastest growing suburbs in Mumbai, is likely to benefit the most from the construction of the GMLR. As affirmed by a majority of the real estate experts, the said road will further propel the demand for real estate in the locality and the neighbouring areas. At present, Mulund is considered to be one of the preferred localities for premium residential development. Additionally, the stretch between the Nahur Station and LBS Road, which has steadily emerged as a vibrant and an affordable destination as compared to Powai or Western Mumbai will also gain prominence post the materialisation of the GMLR project. In the presence of such infrastructural development, the property prices in Thane, Mulund, Bhandup, and Kanjurmarg are expected to witness a surge in the times to come. 

Prevalent prices in connecting localities

Localities

Capital rates per sq ft

Mulund

Rs 13,900-Rs 16,200

Thane (E)

Rs 10,000-Rs 13,000

Thane (W)

Rs 9,000-Rs 11,000

Bhandup

Rs 12,000-Rs 14,300

Kanjurmarg (E)

Rs 12,500-Rs 14,000

Kanjurmarg (W)

Rs 13,500-Rs 15,000

                       Data as per 99acres.com

Vishal Parwani, Owner, SSB Properties, Mumbai, in this context avers, “GMLR will connect the Film City, Goregaon and Mulund via a 14 km six-lane road. The project will enhance the connectivity of the Central and the Western suburbs of Mumbai and ease traffic woes on the Ghodbunder Road. It will majorly be beneficial for the real estate developers of Thane and Mulund. The construction of the road will attract more homebuyers from the western suburbs towards the Central, which eventually will affect the property rates of the Central suburbs. We can expect a hike of approximately 12-15 percent post the completion of the project.”

Though GMLR holds significance from the point of view of vehicular connectivity, the project posed a possibility of disturbance to the biodiversity of the region. However, with the clearance from the SGNP Authority, the project has now inched a step closer to reality. The work on the road is likely to begin soon.   


Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.


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