The Mumbai Trans-Harbor Link (MTHL), otherwise called the Sewri-Nhava Sheva Trans Harbor Link, by the Mumbai Metropolitan Region Development Authority (MMRDA) has pulled in designers and purchasers. The postponement in development of the links stressed out a few buyers who had put resources into the projects around it. Consequently those who bought properties in Sewri are in Catch-22 situation.
As indicated by news reports, it will take no less than a year to accomplish finance related challenges for the undertaking that is probably going to be supported by the Japan International Cooperation Agency (JICA). Specialists say that the postponement of MTHL undertaking may defer the development of the area yet can’t stop it.
Well, it’s an interesting fact that Sewri is one of the regions in Mumbai where infrastructure can be a distinct advantage of its real estate market. In the past, properties in Sewri appreciated in expectation of infrastructural boost. According to industry experts this is slowdown phase of the real estate market but those who actually want to sell their properties should wait for some more time to avail benefits from their properties.
What are the key motivational factors to remain invested in Sewri?
- Steady rise in property values
Properties in Sewri have seen an appreciation of about 40 per cent in the past four years in regard to capital values. If we talk about the normal cost for multi-story flats was near Rs 32,000 for each sq ft in the Apr– Jun 2015 quarter, while information demonstrates it was about Rs 22,000 for every sq ft in the Oct-Dec 2011 quarter.
The value scope of property in Sewri is Rs 23,000-40,000 for each sq ft, according to the postings and rates of the industry experts. Well there is actually a difference isn’t it?
- Improving state of physical infrastructure and connectivity
Let’s have a look at the network or connectivity of Sewri. Sewri is about 2.5 km from the railroad station and is likewise near the transport warehouse that offers consistent transport administrations. The territory likewise offers social foundation, for example, shopping centers, healing centers and schools.
Not only this but, the locality is just near the business region of Lower Parel and is along these lines being favored by those working in the region. Its closeness to the Sea Link additionally associates it to regions, for example, Bandra, Panvel, Chembur and Worli. Sounds great, seems like the connectivity is actual a connection for all the major or famous localities.
This isn’t all. The enhancing network is required to be a noteworthy positive for this territory. The upcoming monorail in Sewri is an additional preferred standpoint. The state government has proposed a procurement of around 600 sq.metre of land in Parel-Sewri for development of the second period of the monorail venture.
The region which was previously a township for process laborers is currently getting down to business as a focal center point. The Eastern Expressway, which wound up noticeably useful very nearly two years prior, associates the area to Central Mumbai.
The Mumbai Trans Harbor Link is a 22 km road, connected to the Mumbai Pune Expressway in the East and the Western Freeway in the West. The connection will start at Sewri, cross Thane Creek, North of Elephanta Creek and will end at Nhava Sheva.
Moreover, the undertaking which is planned for consummation by the year 2017 might run late yet once it takes off, it can turn out to be one of the real positives for the region’s land advertises. The properties in Sewri are probably going to get back on track with time.
So, unless it is an emergency for you, industry specialists encourage holding your property investments in Sewri.