Projects near highways find more buyers in Mumbai

Mumbai is known for its severe traffic congestion at key stretches all throughout the day. As a result, real estate projects which are located near the key highways are finding more buyers in recent times. The Western Express Highway is one of the major thoroughfares and connectivity lifelines for Mumbai residents and several infrastructure developments along this stretch like major business districts, metro networks and better east-west connectivity initiatives are sparking huge residential real estate growth along with the development of commercial and retail zones. There is growing demand along the Western Express Highway for mid-sized and small homes as per reports. Almost 50 projects have launched in north Mumbai post the implementation of RERA. Omkar Alta Monte at Malad is one project by Omkar Realtors which is reaping the benefits of strategic connectivity and proximity to the Western Express Highway. The Government has already planned several infrastructure projects like the high-speed 6-lane highways, bullet train, metro line and express corridors which are boosting real estate markets along the Western Express Highway. Over the last 12-18 months alone, around 112 new projects have already launched in this stretch as per reports. Other projects like Oberoi Sky City are already drawing buyers with their strategic locational benefits. The Omkar International District at Andheri East is another mixed redevelopment venture that offers easy access to the highway and will offer 10 million sq. ft. of space overall divided between commercial and residential units. Real estate markets have blossomed in locations between Dahisar and Andheri due to huge infrastructural developments and these residential areas are already known for their excellent social amenities. Malad, Goregaon, Jogeshwari and Andheri are the new hotspots for the real estate market. These areas are seeing the development of new IT parks and commercial zones like the Nirlon Knowledge Park in Goregaon which is a new-age IT hub. These developments are also attracting more buyers to locations near the Western Express Highway.