Mumbai’s Panvel-Virar corridor will see an upsurge in new hotspots!
The Virar Panvel Corridor, between Panvel and Virar, was designed by the railroads to connect Mumbai‘s west (Virar) and far east (Panvel) (Navi Mumbai). It was decided in response to a directive from the Center to railroad officials. The aim was to find ways to lessen traffic and create more space for house construction. Mumbai grew each time a new rail line connection was established.
Additionally, it has been suggested that the Mumbai Metropolitan Region Development Authority (MMRDA) examine the potential for a transit-oriented enhancement employing the rails (TOD). Providing social services, economic possibilities, and housing close to transportation hubs, a TOD is a high-density mixed-use development.
The Virar Panvel Corridor will connect a significant number of suburbs. The people who continue to move to the town every year might have more living space because of this. Panvel in Navi Mumbai is fantastic since Cidco built one of the excellent structures on this carefully planned neighborhood. Panvel is best a 20-minute drive from the anticipated international airport in Navi Mumbai.
Virar is not usually far from the Gujarati border. There might be one of the stops on the anticipated bullet train to Ahmedabad.
The accessibility of an area’s bus, train, and airport networks all has an impact on its real estate market. Mumbai neighborhoods like Dombivli, Kharghar, and Virar have benefited from the suburban train network of the Virar Panvel Corridor. These areas have recently become well-known neighbourhoods. Dombivali, once a sleepy area, is now comparable to CST in terms of foot traffic as a result of the development in more affordable townships and residential constructions. The monorail project is also quite likely to become well-known within the area. The need for residential areas in this area will increase after the project is completed.
Within the Vasai-Virar area, there are a lot of go downs and warehouses. However, due to the lack of a heavily populated metropolitan area, the region’s ability to improve housing characteristics has been constrained. By employing NITI Aayog, the Virar-Vasai-Panvel line received accreditation in 2016. A significant project called the Virar Panvel Corridor aims to increase access and the price of nearby real estate.
Over 85% of the total funding earmarked for Mumbai Urban Transport will be used by this significant project. There may be Kalamboli, Kharbao, Diva, Bhiwandi, and Vasai along the way. Through that, these suburbs might be connected to the town.
According to experts, the project has the potential to establish a new city cluster between Virar and Panvel. Thus, development in the hotspots of Kharbao, Kalamboli, Bhiwandi, Diva, and Panvel is about to begin. After completion, the railway line might bring in revenue.
More convenient access: When finished, the planned Virar Panvel Corridor will make it simple to reach the envisaged Navi Mumbai International Airport. It will also swiftly connect Thane, Mumbai, and Uran. As a result, residents in areas like Vasai, Kharbao, Kalamboli, Diva, Bhiwandi, and Shilphata will now have access to some of Mumbai and Thane’s most well-liked neighborhoods.
Commercial district needs will increase: The Vasai-Virar district contains a lot of planned malls, retail areas, and workplace places at cheaper prices. Demand for commercial space will increase. But they are unable to draw in any clients due to poor connectivity. The new route will improve the network by attracting businesses and creating jobs. It might need to serve as a production hub for many businesses with stronger connectivity.
Increasing demand for housing: Despite the availability of many more affordable homes in Bhiwandi, Kalamboli, Panvel, Diva, and Kharbao, buyers have been hesitant to purchase properties in the area. This was accomplished through the use of a loss of connectivity. The rail connection will allow the neighborhood to grow in a high-quality manner. It will help to increase customer confidence and demand for business services.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol 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.
