India’s urban landscape is changing dramatically as a result of a large-scale migration from rural to urban areas. Approximately 600 million people, or 40% of the nation’s population, will live in metropolitan regions, according to recent Colliers research.
By 2030, India plans to invest more than Rs 143 lakh crore in some projects to support urban infrastructure and handle this change. The goal of this large investment is to improve urban clusters and support significant infrastructure-led urban development.
Atal Setu, commonly known as the Mumbai Trans-Harbour Link (MTHL), is one of the major projects driving urbanization in MMR. Connecting Mumbai to Navi Mumbai, it has been in operation since 2024 and is the longest sea bridge in India.
By cutting the travel time between these two cities from two hours to only thirty minutes, the MTHL has made it possible to quickly reach important highways including the Mumbai-Pune, Mumbai-Nagpur, and Mumbai-Goa highways.
The adjacent communities of Uran, Talegaon, Panvel, and Kharghar have been greatly impacted by this infrastructure wonder, as evidenced by the nearly twofold increase in land prices from Rs 1,200 to Rs 2,250 per square foot between 2020 and 2024.
The Navi Mumbai International Airport & NAINA project is another noteworthy initiative that is responsible for this increase. The Navi Mumbai International Airport is expected to be finished by 2025, making it the first airport in India with multimodal transportation links. It is anticipated to handle up to 90 million people a year and relieve traffic at the current Chhatrapati Shivaji Maharaj International Airport.
Growth is expected to be fuelled by the Navi Mumbai Airport Influence Notified Area (NAINA), which covers 90,000 acres surrounding the airport. By 2030, land prices in neighbourhoods like Khopoli and Pen are expected to increase from Rs 4,200 to Rs 16,200 per square foot. With this expansion, these areas will become a new urban centre known as “Third Mumbai,” creating new residential and business opportunities.
Investors are urged to take advantage of the quick growth and rising land values brought about by these infrastructural initiatives. This is a good opportunity for investors to look at strong returns and a variety of rental yield options in developing countries, according to Swapnil Anil, Managing Director of Advisory Services at Colliers India.
Eight attractive micro markets have been recognised by Colliers India as having the potential to grow significantly because of their closeness to important urban hubs, affordable land, social infrastructure accessibility, and overlapping infrastructure efforts. One of these is Khopoli, which is about forty-five minutes away from Navi Mumbai.
By 2030, land prices are predicted to rise from Rs 4,200 to Rs 16,200 per square foot, a nearly 3.9-fold increase. According to the survey, Khopoli is a top investment destination because of its advantageous position, which provides quick access to the Mumbai-Pune Motorway, Central Railway, the soon-to-be Navi Mumbai International Airport, and JNPT Port.
Source: The Free Press Journal
