Coastal Road Mumbai: How Coastal Road Project Will Change the Real Estate Landscape of Mumbai

Big infrastructure projects are often a blessing for a city, its economy, its tourist appeal and overall prosperity. So, the roads, metros and sea links especially at the strategic locations that save commute time and facilitate people to conduct their businesses smoothly also speed up the economy and increase the value of the real estate in its proximity.

It’s a multi-pronged activity. A competitive edge in moving goods economically ensures business success. Poor road networks act as a barrier for the growth of agriculture, industry and trade. It hinders the process of urbanization, reduces the quality of life and severely hurts socio-economic development of the residents.

The Mumbai Coastal Road Project

The Coastal Road Project is designed to handle Mumbai’s traffic woes, frustrating delays and inefficiencies, and a high dependence on public transport. It will also minimize the peak hour congestion towards the narrowing South Mumbai region. The 29.2 km long stretch, linking Marine Lines in South Mumbai to Kandivali, will reduce travel time by 30-45 minutes during peak hours. It will drastically cut the fuel wastage.

It is expected to improve the investor sentiment and commuters struggling with harrowing traffic congestion during the peak hours. Coastal Road will likely boost property value in the neighborhoods.

An Engineering Marvel

The Coastal Road, officially named ‘Dharmveer Swarajya Rakshak Chhatrapati Sambhaji Maharaj Marg’, is an ambitious project launched as part of the government drive to turn Mumbai into a world class city like Shanghai. With an estimated construction cost of over ₹13,000 crore, its first phase was opened to the public in March 2024. It covers 10.58 kilometers from Princess Street Flyover to Worli featuring India’s first undersea twin tunnels and an 8-lane expressway.

State of the art engineering solutions were implemented including a high seawall, floodgates, and extensive bus bays, to protect the city from flooding and improve accessibility to public transport.

Once fully operational, the Coastal Road will cut travel time between Marine Drive and Bandra from nearly an hour to just 10 minutes, and reduce commutes between South Mumbai and suburbs like Andheri, Versova, and Goregaon. Such smooth connectivity is expected to increase the value of the neighborhoods along the route.

Real Estate Price Surge and Market Trends

The Coastal Road has already triggered a notable increase in property prices along its corridor. Data shows:

Worli and Marine Drive have witnessed a 20–30% increase in property prices over the past two years, and further appreciation is anticipated as the project nears completion.
In the Bandra-Andheri corridor, stakeholders report a 5–15% increase in property values, and the effect is rippling outward to areas like Goregaon and Borivali.
The surge is not limited to residential properties; the project is expected to stabilize or even increase office rental rates in traditional business districts like Nariman Point and Colaba, reversing the trend of office relocations to Bandra Kurla Complex.

With these developments, investor confidence is renewed and demand has increased for both luxury and affordable housing schemes. Developers are responding with a wave of premium launches, especially in South Mumbai, offering state-of-the-art amenities and sea views for elite and discerning buyers.

Affordable Housing and New Development Opportunities

The Coastal Road is not just boosting luxury real estate; it is also creating opportunities for affordable housing. Improved connectivity is making previously hard-to-reach areas more attractive for development, balancing property prices across the city. Experts predict that the project will open up new land parcels for residential and commercial use, leading to a broader range of housing options and helping to meet the city’s growing demand for affordable flats.

Changing Buyer Preferences and Urban Dynamics

With reduced commute times and better accessibility, buyer preferences are shifting. More people are considering relocating to the suburbs, as it shortens their commutes and improves quality of life. Better living conditions and improved accessibility in remote & suburban areas, would ease pressure on central Mumbai and stimulate growth in emerging neighborhoods.

Expert Insights

Industry leaders and analysts are bullish on the project’s impact. Anuj Puri, Chairman of ANAROCK Property Consultants, anticipates a “noticeable uptick in property values and a renewed interest from investors looking to capitalize on the improved infrastructure”. Ayushi Ashar, Director at Ashar Group, expects the project to “encourage upscale developments along its route, particularly in South Mumbai and the suburbs”.

Conclusion

The Mumbai Coastal Road Project is more than an engineering feat; it will act as a catalyst for a new era in Mumbai real estate. By enhancing connectivity, reducing congestion, and unlocking new areas for development, it is reshaping property values in different areas. You’ll likely see a sweeping change in housing trends across the city. As the project progresses, its influence on Mumbai’s urban and real estate landscape will grow by leaps and bounds in the near future.

Looking to invest or buy your dream home in South Mumbai or anywhere else in India? Connect with our expert team at Promesa Realty for personalized advice and the latest market insights.

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