The Influence of Mumbai-Pune Expressway on Real Estate in Kharghar

Infrastructural developments play a vital role in the overall growth of a city. It can also lead to an increase in demand for residential and commercial properties in the area as people would be attracted to the lifestyle it has to offer. With better amenities, the residents can benefit from improved connectivity, better job prospects, and a comfortable way of living. All these features can have a massive impact on the real estate sector of the area. Speaking of which, in the following blog, we will address Mumbai-Pune Expressway and this development's impact on real estate.

What is the Mumbai-Pune Expressway?

Also, going by the name of Yashwantrao Chavan Expressway, the Mumbai-Pune Expressway is India’s first access-controlled, 6-lane roadway that is 94½ kilometres long and connects Mumbai to Pune. Undoubtedly, the expressway is one of the busiest thoroughfares in India, considering the strong position of both cities it connects.

The expressway consists of five interchanges, namely Chowk, Kon (Shedung), Kusgaon, Khalapur, and Talegaon. Factoring this in, the Mumbai-Pune Expressway is one of the most prominent, busiest, and frequently travelled roads in the entire country.

Out of the six lanes on the expressway, there are two carriageways that are quite wide and can also be access-controlled. Each of these also has three different concrete lanes. This really helps segregate the traffic as vehicles like bullock carts, tractors, two-wheelers, and even three-wheelers cannot enter the motorway.

Inaugurated in 2002, the Mumbai-Pune Expressway was the first motorway in India that brought new levels of safety and speed to automotive movement. The expressway connects Mumbai to Pune, which is a cultural and commercial hub. So, not only does this promotes economic growth, but it also brings more cultural diversity.  

The expressway’s beginning point is in Navi Mumbai at Kalamboli and ends at Kiwale in Pune. Other than enabling better connectivity to Pune, the expressway has also promoted development in surrounding areas. This has even led to growth in real estate.

There are also several tunnels located along the route. And while you are not traversing a tunnel, you can also gaze at the beautiful vistas as the route travels through the Sahyadri Mountain range.

Newer Developments on The Expressway

Other than this, the region's real estate has benefitted from many other developments on the expressway. The project will be witnessing some significant developments in the coming time, which aims to help commuters immensely.

Sources also suggest that the MSRDC started constructing a new missing link connecting Khopoli and Kusgaon. This new path is expected to reduce the commute time by around 25 minutes and help people transporting from Mumbai to Pune immensely. The construction of the new lane, which stretches 19.80 km, commenced in February 2019. With this new upgrade, overall road safety will also be increased.

One of the most recent developments was when the MSRDC identified two new halting spots on the expressway. This was a much-needed upgrade as it would offer travellers some reprieve as the road can get quite congested during peak hours. These halting points will also provide some basic amenities such as restrooms, gas stations, restaurants, and parking spots to make the drive convenient for travellers.

Impact on Real Estate

Owing to these features, the expressway has also offered many job prospects for residents in the surrounding regions, which, in turn, has impacted the real estate sector. Moreover, the motorway offers easy access to several national routes like NH-48, NH-548, and NH-60. This also proves to be advantageous to the nearby minor communities.

As a result, prices in Kalamboli have witnessed an increase of around 20 percent over the last five years. Kalamboli is a middle-income locality that is quite well-established, but with better connectivity, the area has seen an upsurge in the number of ready-to-move housing societies.

Other areas like Kharghar and Panvel have also seen a considerable increase in demand when it comes to real estate. The number of people looking for flats in Kharghar for sale has increased. Today, Kharghar is known to be a well-planned and developing locality in Navi Mumbai. Being situated near the Mumbai-Pune Highway, there are also a number of projects that further garner the interest of home buyers and investors. Other than the expressway, the area is well-connected through the Kharghar Railway Station and NMMT Bus Network, which makes connectivity much more accessible for the residents.

Conclusion

Overall, the influence of the Mumbai-Pune Expressway has been enormous in both cities. The development has not only made transportation hassle-free but has also given residents new opportunities that have helped the economy as well as the real estate market. The expressway is a testament to the transformative power of infrastructure development and serves as an example for other regions to follow!