Mumbai sees realty boom along the Western Express Highway

The construction of the WEH opens up vast tracts of land for development along Mumbai's western coastline. This presents opportunities for real estate developers to undertake large-scale projects, including residential complexes, commercial centres, and mixed-use developments

Mumbai: In the bustling metropolis of Mumbai, the demand for residential properties has seen a remarkable surge, particularly along the Western Express Highway (WEH). This golden corridor, stretching through the heart of the city, has become a hotbed for real estate development, attracting buyers and investors alike.

The highway's strategic location and unparalleled connectivity to key city zones have played pivotal roles in this development boom. The phenomenon is not just a testament to the city's ever-expanding urban landscape but also highlights the strategic importance of location in the real estate sector.

The WEH is serving as a vital north-south artery, offering unparalleled connectivity to several key areas of Mumbai. It links the suburbs to the city's commercial hubs, making it an ideal location for professionals who seek to minimise their commute times. The proximity to the airport, along with easy access to the Mumbai Metro and local train networks, enhances its appeal, providing a seamless travel experience for residents.

Talking to Bizz Buzz, Ravi Shankar Singh, Managing Director, Residential Transaction Services, Colliers India says, “The Infrastructural advancements like metro and Coastal Road along the WEH is fuelling demand and supply for residential projects. With improved connectivity, range of options exist across budgets. This is helping consumers upgrade to better lifestyle homes, a big step towards reducing the housing shortage in the city.”

The WEH in Mumbai has the potential to be a significant game-changer in the real estate sector.

Sunil Dewali, Co-CEO of Andromeda Sales & Distribution Pvt Ltd, parent company of Andromeda Realty Advisors says, “Boost in Property Values: Properties located near the WEH are likely to experience a surge in value due to improved accessibility and connectivity. Areas adjacent to the road may witness increased demand for both residential and commercial spaces, leading to higher property prices.”

The construction of the WEH opens up vast tracts of land for development along Mumbai's western coastline. This presents opportunities for real estate developers to undertake large-scale projects, including residential complexes, commercial centres, and mixed-use developments.

The WEH could spur the development of new residential hubs. This could attract homebuyers looking for premium living experiences in Mumbai.

Improved connectivity provided by the western expressway may attract businesses to set up offices and retail outlets in areas along the stretch. This could lead to the development of new commercial districts, creating employment opportunities and driving further demand for real estate.

The WEH could enhance Mumbai's appeal as a tourist destination by providing easier access to popular attractions and landmarks. This may lead to increased investment in tourism infrastructure, including hotels, resorts, and entertainment venues.

Speaking on the factors that are driving the demand along the WEH, UmeshJandial, Chief Business Officer, Omkar Realtors & Developers said, “The western suburbs comes with well-developed conveniences and comforts; therefore is the most preferred choice of modern homebuyers. The belt along the WEH as a micro market is holding strong on rental yield and ROI factor.”

The infrastructural enhancements and connectivity it offers are unparalleled. The location is also in close proximity to Metro lines, upcoming Coastal Road along with excellent connectivity to the airport; it provides easy accessibility to various parts of the city. Therefore this belt is witnessing a premium quotient and strong demand for residential housing, especially in the Malad–Goregaon region. Our project Omkar Alta Monte on the WEH aims to encapsulate the essence of Mumbai living, offering tranquility and accessibility.”

The investment potential of properties along the WEH cannot be overstated. With property values appreciating and the promise of high rental yields, investors are keenly eyeing this area. Additionally, the corridor is seeing a proliferation of modern amenities, from high-end shopping centres to lush green parks, catering to a contemporary lifestyle that many Mumbaikars aspire to.

Despite the upscale amenities and strategic location, residential projects along the WEH offer a range of options that cater to various budget segments. From luxurious apartments to more affordable housing options, there's something for everyone. This affordability, coupled with the potential for high returns on investment, makes it an attractive proposition for both end-users and investors.

The government's focus on improving infrastructure and fast-tracking developmental projects along the WEH has significantly boosted confidence among buyers. Upgrades in road quality, expansion of the highway to reduce traffic congestion, and enhancements in public transport facilities have made living in this area more appealing.

As Mumbai continues to grow, the WEH stands as a testament to the city's dynamic evolution, offering a blend of luxury, convenience, and sustainability to its residents. With such dynamic growth, the future of this corridor looks brighter than ever, set to redefine urban living in Mumbai.