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All You Need To Know About Versova-Bandra Sea Link Project

All You Need To Know About Versova-Bandra Sea Link Project

All You Need To Know About Versova-Bandra Sea Link Project
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Anil¬†Ambani-led Reliance Infrastructure on June 26, 2019 bagged the contract to develop the¬†Versova-Bandra¬†Sea Link. The project¬†aims to provide¬†ease of connectivity between¬†Versova¬†and¬†Bandra¬†by¬†cutting down the travel time between the two points,¬†from 90 minutes to 10 minutes.‚ÄĮTo be developed at an estimated¬†Rs¬†7,000-crore¬†budget, the project is expected to be completed in¬†the¬†next five years.¬†

Here is all you need to know about this infrastructure project that would significantly impact the way people travel in the Maximum City.  

The Versova-Bandra Sea Link 

The Versova-Bandra Sea Link was planned with a need to develop a peripheral road that could help ease traffic from north to south and from east to west of the city.  With the development of suburban localities such as Borivali, Bandra and Goregaon, the burden on existing infrastructure increased, prompting the Maharashtra State Road Development Corporation (MSRDC) to plan the link.

The proposed ring road, which will be a 17.17-km stretch,¬†three times the length of the¬†Bandra-Worli¬†Sea Link, would be a connect between the Eastern Freeway and the Western Freeway at¬†Nariman¬†Point. The corridor would also serve as an extension to the existing¬†Bandra-Worli¬†Sea Link.¬†Commuters travelling to the south of Mumbai from the western suburbs could¬†avoid¬†the Western Express Highway once the new route becomes operational. They could then use sea links that would have connectors at¬†Bandra, Otters Club, the¬†Juhu¬†Link Road and the¬†Versova¬†Link Road. These connectors, according to the MSRDC, will help ensure fewer jams at the points where vehicles enter and exit the corridor.‚ÄĮ¬†

Impact of Versova-Bandra Sea Link on the property market 

The project that is aimed at easing traffic woes will have a positive impact on the popular suburbs of the city. These include Andheri, Bandra, Goregaon and Borivali. All the four localities are known to be the prime property markets of Mumbai that are surrounded by some of the key commercial centres.

For instance,¬†Andheri, which is divided into east and west, is a combination of¬†a¬†commercial and residential property market. Similarly,¬†Bandra¬†is considered to be the residential hub for many working at Mumbai‚Äôs CBD¬†Bandra-Kurla¬†Complex.‚ÄĮ¬†

Once the project becomes operational, the property markets of these localities will see more potential homebuyers, who have been shying away from investing here due to traffic issues. This will also have a positive impact on property prices here.‚ÄĮ¬†
 

Locality 

Average price (in Rs psf) 

Average rent (in Rs per month) 

Andheri 

18,465 

46,304 

Bandra 

23,020 

83,400 

Borivali 

15,938 

28,000 

Goregaon 

15,627 

39,686 

Source: Makaan.com 

The timeline for the Versova-Bandra Sea Link 

Year 

Development 

2009 

The Cabinet Committee on Infrastructure approves the project. The Maharashtra government appoints the MSDRC as the nodal agency to develop the link. 

2013 

The project receives a clearance from the Coastal Regulation Zone and the environment ministry. 

2018 

The state government gives administrative approval to carry out the project. 

 

2019 

Reliance Infratech bags contract to construct the sea link at a cost of Rs 7,000 crores.  

Last Updated: Thu Jun 27 2019

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