Mumbai developers upbeat on clearance to various infra projects

The developer community in Mumbai feels that the Supreme Court order that cleared the way for execution of Mumbai’s ambitious infrastructure projects – the Coastal Road and Bandra-Varsova Sea Link (BVSL) – will bring about a sea-change in the land-starved city. The slew of various infrastructure projects will improve connectivity and decongest the prime locations of the city, said Abhinav Joshi, Head of Research at CBRE India. Quoting a survey by bizbuzzindia.com, Joshi said it will also significantly impact the property prices in the vicinity besides giving a fillip to the demand for commercial and office spaces in the area. The new corridor would be a shot in the arm for connectivity between the suburbs and the main commercial business district. It will reduce travelling time to 12 minutes from 60 minutes Due to improved connectivity from the farther suburb, the crowded areas of Andheri, Chembur, Ville Parle are expected to be decongested and the excessive pressure on the ex...