PRNewswire
Mumbai (Maharashtra) [India], June 17: A surge of government efforts aimed at enhancing connectivity between Mumbai and Alibaug is driving real estate development in the charming beach town of Alibaug, making it an increasingly desirable destination for branded plot developers, homebuyers, and investors. Situated along the serene Konkan coast of Maharashtra, Alibaug has long been treasured for its pristine beaches, lush green landscapes, and peaceful ambiance. However, limited connectivity has impeded the town's full potential for real estate growth. With the slew of infra projects in the works, the travel time is expected to be slashed by nearly half - from the over three hours currently, it will come down to barely over an hour. These infrastructure initiatives are expected to create a multitude of opportunities for real estate development in Alibaug, a recent survey by HoABL states. It will provide immense potential for investors to earn from appreciation and rentals. Recognising the untapped possibilities and growing demand for properties in Alibaug, the government has initiated several crucial infrastructure projects to bridge the connectivity gap.
The Virar-Alibaug Corridor Project:
Alibaug stands on the cusp of connectivity revolution and economic growth, thanks to the visionary Virar-Alibaug Corridor Project proposed in 2010. This ambitious project aims to foster development and drive economic activities by ensuring seamless accessibility to towns like Panvel, Bhiwandi, Virar, Kalyan, Pen, Uran, and Alibaug. With numerous growth drivers and ongoing projects, the corridor holds immense potential to transform transportation and facilitate significant economic expansion in the area. The travel time between Virar to Alibaug required today will also be reduced by 50 per cent.
Roll-on/Roll-off (RORO) Service from Mumbai:
The introduction of the Roll-on/Roll-off (RORO) service from Mumbai emerges as a significant catalyst for the Virar-Alibaug Corridor Project. This innovative mode of transportation enables vehicles to directly board ferries while passengers can comfortably sit inside the ferry. It also provides a convenient and efficient option for cargo and heavy vehicles, while simultaneously reducing travel time between Mumbai and Alibaug.
Under Construction - Mumbai Trans-Harbour Link (MTHL):
The crucial role of the Mumbai Trans-Harbour Link (MTHL) is emphasized as a vital component of the Virar-Alibaug Corridor Project. Currently under construction, this 21.8 km, 6-lane access-controlled sea bridge will connect Sewri in Mumbai with Chirle in Navi Mumbai, leading to a substantial decrease in travel time between these regions. The completion of the MTHL, anticipated by 2023, will result in enhanced connectivity and the facilitation of smoother movement of people and goods.
Widening of Mumbai-Goa Road & Vadkhal Alibaug Road:
Plans are being implemented to widen the Mumbai-Goa Road and Vadkhal Alibaug Road in order to further enhance connectivity within the Virar-Alibaug Corridor. These infrastructure enhancements will guarantee better road connectivity, facilitating seamless travel between major cities and improving accessibility along the corridor and slashing travel time.
Virar-Alibaug Multimodal Corridor:
The Virar-Alibaug Multimodal Corridor plays a pivotal role in the project, aiming to provide integrated transportation options including road, rail, and waterways. This multimodal approach will offer commuters flexible and convenient travel choices while improving connectivity to key destinations within the corridor.
Over the next few years, the Virar-Alibaug Corridor is set to witness a transformative shift in travel within the region. With the completion of various infrastructure projects, travel time will be significantly reduced, and connectivity, enhanced. This improved scenario will foster economic growth and facilitate seamless travel experiences along the corridor.
Connectivity between Panvel and Alibaug via Train for Locals:
To cater to the needs of local commuters, plans are in place to implement a train service that will connect Panvel to Alibaug. With the inclusion of four local stations between Pen and Kihim, residents will benefit from a fast and efficient mode of transportation, improving connectivity and facilitating convenient travel within the corridor.
Proposed Bridge from Karanja to Revas:
As an extension of the Mumbai Trans-Harbour Link, a bridge from Karanja to Revas is being proposed to further enhance connectivity within the corridor. This bridge will serve as a vital link, ensuring seamless movement between these areas and strengthening the overall transportation network.
Proposed Economic Zone Near Airport:
Taking advantage of the improved connectivity, a proposed economic zone near the airport aims to stimulate economic growth within the Virar-Alibaug Corridor. The objective is to attract businesses and industries, generating employment opportunities and boosting the local economy.
Furthermore, the ongoing Coastal Road Project in Mumbai is poised to have a significant impact on the connectivity between Mumbai and Alibaug. The coastal freeway, designed to alleviate congestion in the city's existing road network, will not only reduce travel time but also provide a scenic and comfortable commute for residents, tourists, and investors heading to Alibaug.
The improved connectivity will unlock the untapped potential of Alibaug, attracting a greater influx of tourists, weekenders, and potential land & homebuyers. This seamless travel experience will position Alibaug as an appealing residential and commercial destination, leading to an upsurge in demand for properties.
Additionally, significant appreciation in real estate prices is anticipated. The limited supply of properties, coupled with the rising demand, will create a favourable market for investors and developers, providing them with an opportunity to capitalize on the flourishing tourism in the town. Moreover, the infrastructure push will not only enhance connectivity but also stimulate the development of supporting amenities and facilities in Alibaug. The establishment of schools, hospitals, shopping centres, and other essential infrastructure will contribute to the overall growth and attractiveness of the town.
As the infrastructural enhancements near completion, Alibaug is on the verge of becoming a hotspot for those seeking a coastal haven while remaining connected to the vibrant city life of Mumbai.
The House of Abhinandan Lodha (HoABL), India's largest branded land developer, is using technology and innovation to promote land as an asset class for investment and wealth creation.
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