Towers, tunnels, and transit to sculpt Mumbai's future

Part-II spotlights changes in Mumbai's realty landscape. Bridges, tunnels, and sprawling transit corridors are thrusting overlooked micro-markets into limelight. Once eclipsed by BKC & Lower Parel, these emerging hubs are rewriting the city's growth story — and redefining its skyline

- PRACHI PISAL

Mumbai has traditionally relied on hubs such as Bandra Kurla Complex (BKC), Lower Parel, Worli, and Andheri East for commercial growth, and Chembur, Dombivli, and Thane for residential demand. Now, large-scale infrastructure projects are shaping new micro-markets that are set to define the city's real estate future.

Experts point to micro-markets in Uran, Ulwe, Panvel in Navi Mumbai, Versova, Vikhroli, the Andheri WestGorai belt, the Palghar region, and Bhiwandi. Connectivity initiatives, including the Mumbai Trans-Harbour Link (MTHL), Navi Mumbai International Airport (NMIA), Virar-Alibaug Multimodal Corridor (VAMC), Versova-Bandra Sea Link, Thane Ring Road, Thane-Borivali Twin Tunnel, coastal roads, and the Metro network, are driving interest.

KT Jithendran, managing director (MD) and chief executive officer (CEO) of Birla Estates, said, "High-growth corridors such as Thane and Navi Mumbai are evolving into self-sufficient residential and commercial zones. Improved access and quality of life are drawing homebuyers and investors alike."

According to realty analytics firm Liases Foras, Mumbai Metropolitan Region (MMR) accounts for 25-26 per cent of homes sold in the top 60 cities.

Pankaj Kapoor, MD of Liases Foras, said, "Over the past decade, infrastructure improvements, including bridges and Metro connectivity, have eased movement across the city. This has helped both sales and supply growth in MMR."

The Uttan-Virar Sea Link and Versova-Bandra Sea Link are expected to enhance connectivity in the Versova-Gorai belt.