Multiple upcoming infrastructure projects in India are in the pipeline. But we have mentioned the most significant and revolutionary projects that will impact the citizens & economy of the nation in a big way. Bharatmala, Bullet Train, International Airport, Sagarmala, etc are some examples of them. Check out this article to know the top 8 upcoming infrastructure projects in India & their impact on real estate.
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Bharatmala Pariyojana
The Bharatmala Pariyojana is said to be the second-largest highway project in India. And National highways development project is the first one on the list.
The prime focus of the Bharatmala Pariyojana construction is to optimize the efficiency of the movement of goods and people across India.
The project will be connecting 550 districts through NH linkages across the country.
Bharatmala Pariyojana is aimed to unite remote areas and satellite cities such as Pune, Bangalore, Hyderabad, etc.
The project suggests the highway will pass through Gujarat, Maharashtra, Rajasthan, Haryana, & Punjab.
Further, the route will get linked to Himalayan territories such as Jammu Kashmir, Uttarakhand, & Himachal Pradesh.
Uttar Pradesh, Bihar, West Bengal, Terai, Sikkim, Arunachal Pradesh, Assam, etc. are also connected over the highway route.
The impact of Bharatmala Pariyojana will boost the highway infrastructure by raising 6 NC corridors to 50 corridors, & 40% of freight to 80% of freight operations on National highways.
This project is one of the most significant among upcoming infrastructure projects in India.
The total length of the Bharatmala Pariyojana is 83677 km. And this is divided into two construction phases like
- Phase 1: 34800 km
Phase 1 was expected to be completed by December 2022. But due to the issues such as land acquisition, multiple Covid-19 waves & rise in cost value.
Initially, the estimated cost for phase 1 was Rs. 5.35 lakh crores. But due to the delay in land acquisition, the cost has risen to Rs. 8.6 lakh crores.
Now, the expected completion date for phase 1 is FY 2026.
- Phase 2: 48877 km
The planning process for phase 2 has already begun by NHAI.
Current Status of the Bharatmala Pariyojana
Currently, phase 1 of the Bharatmala Pariyojana is still under construction. And it is expected to be completed by FY 2026.
And later on, phase 2 of the project will be started.
Completion Date of Bharatmala Pariyojana
The completion date of the project is only been decided for phase 1 which is 2026. And yet to be decided for phase 2 of the project.
So, the overall project completion date is not been decided yet.
Impact On Real Estate
The Bharatmala Pariyojana is connecting multiple cities. The real estate demand will also be going to boost as people can travel easily across the nation.
This connectivity will lead to an upsurge in the real estate industry across the nation by making it more profitable.
Mumbai Ahmedabad Bullet Train
The Mumbai-Ahmedabad bullet train project is a 508 km long rail line.
The project is structured in such a way that it will have 12 stations, 3 rolling stock depots, eight maintenance depots, a Sabarmati passenger hub & HSR training institute over the route.
The total cost of the Mumbai-Ahmedabad bullet train project is around Rs. 1.1 lakh crores.
The Mumbai to Ahmedabad travel time will be reduced from 7 to 8 hours to 2 hours & 57 minutes via traveling through the Mumbai-Ahmedabad bullet train.
And currently this project is one of the most look after among list of upcoming infrastructure projects in India.
You can check out Mumbai Ahmedabad Bullet Train 2024 – Map, & Ticket Price to know more about the project
Current Status of Mumbai-Ahmedabad Bullet Train
Initially, the Mumbai-Ahmedabad bullet train was in process in Gujarat. And in Maharashtra, the project was not in progress due to a land acquisition issue.
Now, the issue is been solved. And Maharashtra took growth in initiating the work for the project.
Now we can expect the completion of the Mumbai-Ahmedabad bullet train project soon.
Completion Date of Mumbai-Ahmedabad Bullet Train
Recently, Senior BJP said “The land acquisition issue in Maharashtra is been solved now. And now the project will seek huge growth in the completion of this project.
The planned completion date for this project is August 2026.
Impact On Real Estate
The real estate project demand will be impacted in a big way as this project helps in connecting two major metropolises.
Property in Thane, Dombivali & Kalyan is seeking huge growth as these localities are available at the closest proximity to this bullet train project. Whereas, Thane is also one of the stations for this project.
The Navi Mumbai International Airport will be built on a total area of 1160 hectares.
The site of the project is situated in Mumbai’s east Raigad district. This airport will be connected to the Chhatrapati Shivaji Maharaj International Airport through the metro line.
The airport will also be close to Mumbai via the currently under-construction Mumbai Trans Harbour link project.
Over the completion of the first phase of Navi Mumbai International Airport, it will be capable of managing 10 million passengers per year. And 25 million & 60 million passengers over the completion of the 2nd & last phases.
And the estimated cost of the project is Rs. 16700 crores.
Navi Mumbai International Airport project is one of the most vast and revolutionary among upcoming infrastructure projects in India.
Current Status Of Navi Mumbai International Airport
The Navi Mumbai International Airport is currently under construction.
Completion Date Of Navi Mumbai International Airport
Initially, it was planned that the construction of the first phase of the project will be completed in July 2024.
As per the latest update, the first phase & second phase is combined. And the construction of both phases will be completed in December 2024.
And the Navi Mumbai International Airport opening will be held in 2025.
Impact On Real Estate
Over the completion of the Navi Mumbai International Airport, the property in Navi Mumbai will seek a price appreciation of around 10 to 15%.
Property in Panvel, Kamothe, Ulwe, Taloja, Kharghar, etc will be benefited largely.
Mumbai Trans Harbour Link
The Mumbai Trans Harbour Link project has another name as Sewri-Nhava Sheva Trans Harbour link.
This project is a 21.8km long & 27 meters wide 6-lane expressway. This roadway will link Mumbai to Navi Mumbai.
Over the completion of the project, Mumbai Trans Harbour Link will be the longest sea bridge in India.
The bridge will start from Sewri of South Mumbai. And later will pass through Thane creek and end at Chirle close to Nhava Sheva.
The total estimated cost of the project is Rs. 17843 crores.
Mumbai Trans Harbour Link is currently one of connectivity enhancing project among upcoming infrastructure projects in India.
Current Status Of Mumbai Trans Harbour Link
The Mumbai Trans Harbour Link project is currently under construction.
Completion Date of Mumbai Trans Harbour Link
The expected completion date for the Mumbai Trans Harbour Link is December 2023.
Impact On Real Estate
This project will allow faster travel to various cities.
And it will also impact the growth of property in Thane, Nashik, Pune & property in Panvel.
Raigad being a neighboring district will also experience a raise in real estate prices.
Delhi-Mumbai Industrial Corridor
The Delhi-Mumbai Industrial Corridor (DMIC) will be covering a total length of 1504 km.
It will be passing through states such as Uttar Pradesh, Haryana, Delhi NCR, Rajasthan, Gujarat & Maharashtra. And it will cover 89 districts in the mentioned states.
The ending terminals of this industrial corridor will be Dadri in Delhi NCR & Jawaharlal Nehru Port (JNPT) in Mumbai.
It is estimated that this project will help in the growth of the manufacturing output value by 3.5 times between 2010 to 2020 i.e Rs. 15.2 billion to Rs. 52.8 billion.
And between 2010 to 2040, the estimated growth will be 14 times i.e increasing to Rs. 212.6 billion.
Current Status Of Delhi-Mumbai Industrial Corridor
The Delhi-Mumbai Industrial Corridor project is currently under construction.
Completion Date of Delhi-Mumbai Industrial Corridor
The expected completion date of the Delhi-Mumbai Industrial Corridor is 2024. And this
project is one of the impactful upcoming infrastructure projects in India.
Impact On Real Estate
The Delhi-Mumbai Industrial Corridor will impact as an infrastructural upgrade along with developments of industries & businesses.
As industry operations are going to increase this will result from a rise in demand for office areas & industrial land.
And employment opportunities are also going to increase which will impact a rise in demand for residential property in Mumbai, Rajasthan, Madhya Pradesh, Gujarat, etc.
Sagarmala Project
The Sagarmala Project is aimed to bring a big impact in the logistics sector of India. It will be done by maximizing the potential of the waterways & coastline of India.
This project is aimed to reduce the cost of logistics for EXIM & domestic cargo. And it is planned to achieve a total cost saving of Rs. 35000-40000 crores per annum.
This can be done by achieving the following objectives as mentioned below.
Sagarmala is estimated to minimize the carbon emissions from transportation by almost 12.5 MT per annum.
Current Status Of Sagarmala Project
The Sagarmala project is currently in progress.
Completion Date Of Sagarmala Project
The expected competition date of the Sagarmala project is 2024. In coming year, the wait for
this upcoming infrastructure projects in India will be over..
Chenab Rail Bridge
The Chenab Rail Bridge is a concrete & steel arch bridge. It crosses the Chenab river with a height of 1178 ft above sea level.
This bridge is 35 m higher compared to the Eiffel tower in Paris.
The overall length of the bridge is 1315 m. And the bridge is between Kauri & Bakkal. This is just 42 km away from the Reasi town of Jammu & Kashmir.
Currently, the Chenab rail bridge is the World’s highest rail bridge. And this made Chenab Rail Bridge
project to stand as one of the challenging & significant upcoming infrastructure projects in India.
Current Status Of Chenab Rail Bridge
The Chenab rail bridge is fully completed. The inauguration of the bridge was done on August 2022.
Completion Date Of Chenab Rail Bridge
The expected date of Chenab Rail Bridge for operational to rail traffic is December 2022.
Thane Borivali Tunnel
The Thane Borivali Tunnel is designed to reduce the journey time along Thane to Borivali from 1 to 2 hours to 15 to 20 minutes.
This twin tunnel will have 3 lanes in each. And the tunnel will begin from Tikujiniwadi in Thane & the ending point is on the Western Express Highway of Borivali.
Speed cameras, advanced lighting, smoke detectors, fire extinguishers, etc are the facilities provided for the safety of travelers.
The total cost of the Thane Borivali Tunnel project is Rs. 13200 crores.
Over the completion of this tunnel, it will be the longest tunnel in Maharashtra.
Current Status Of Thane Borivali Tunnel
Previously, due to multiple reasons the construction of the tunnel got postponed.
And now the construction of the project is been planned to be initiated by the monsoon season of 2023.
Completion Date of Thane Borivali Tunnel
MMRDA has decided to complete this project by 2027. This much time is a must because the tunnel has to be constructed 23m beneath the surface.
Impact On Real Estate
The Thane Borivali Tunnel is expected to bring a big impact on a rise in demand for property in Borivali, Ghod-bunder road, Dahisar & Thane.
As the traveling time will be reduced, it is estimated that this will impact in rise of property prices as well.
FAQs
| What are the upcoming infrastructure projects in India?
Bharatmala Pariyojana, Mumbai Ahmedabad Bullet Train, Navi Mumbai International Airport, Mumbai Trans Harbour Link, Delhi-Mumbai Industrial Corridor, Sagarmala, etc are the latest upcoming infrastructure projects in India. |
| What is the completion date of Bharatmala Pariyojana?
The completion date of the Bharatmala Pariyojana for phase 1 is 2026. And the overall project completion date is not been decided yet |
| What is the date of completion for the Mumbai-Ahmedabad Bullet Train?
The land acquisition issue in Maharashtra was not progressing due to some reasons. But now it is been solved. And now the project is to be completed by August 2026 |
| Is Sagarmala ready for operations?
The expected competition date of the Sagarmala project is 2024. |
| When will Navi Mumbai International Airport be ready to function?
The Navi Mumbai International Airport will be ready for people by 2025. |
