Navi Mumbai airport, Nhava-Sewri Mumbai Trans harbour link will be 'positive' developments: Niranjan Hiranandani
MUMBAI, JANUARY 06, 2015: Media reports suggest work is all set to commence on the Navi Mumbai airport project and the 22-km Nhava-Sewri Mumbai Trans Harbour Link in the first half of 2015. "Both these infrastructure projects have the potential to help create new locations where affordable homes can be provided, as also give fillip to the proposed economic zones and creation of Smart Cities at locations in the periphery of Panvel and Navi Mumbai in the Mumbai Metropolitan Region (MMR)," said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL).
The Navi Mumbai Airport will have a positive impact on real estate development in Panvel and Navi Mumbai’s peripheral regions, which will be beneficial for home seekers in the MMR. The other positive impact will include providing a fillip for development of Smart Cities and proposed economic zones in locations that will get a positive impact from both, the trans-harbour link as also the airport, Niranjan Hiranandani pointed out.
The process of bidding for the airport's development should happen soon, more than five national and international airport developers have showed interest in placing bids, given that the State and Centre have made the financial conditions more attractive for them, said the HCPL MD. "Now, we should see dreams becoming a reality, and from the perspective of economic growth, job creation as also real estate development in the MMR, this will be good news," he added.
"I see as positive news reports which mention that the government has entered the last phase of land acquisition towards Navi Mumbai for the trans-harbour link, which promises to revolutionize the transport system, bringing what are today's far-flung locations closer to the Central Business District (CBD) of South Mumbai," he added. "It will not just help de-congest South Mumbai, but also bring present-day remote locations closer to South Mumbai's business centres; in effect, provide a fillip to real estate development across not just the Island City and Navi Mumbai – Panvel’s periphery, but the entire MMR," said the HCPL MD.
There is a very simple logic why both these projects complement each other, explained Niranjan Hiranandani. "The success of each will be a positive for the other: if both are successful, it will ensure financial viability in the long run. Viewed from a real estate development perspective, both these projects are inter-connected, not just in terms of increasing connectivity but also in terms of helping develop the proposed economic zones located in the periphery of Panvel and Navi Mumbai," he added.
The Navi Mumbai airport and Nhava-Sewri Mumbai Trans Harbour link will be 'positive' developments for the MMR, concluded Niranjan Hiranandani.
KEY WORDS: real estate industry, affordable housing, Niranjan Hiranandani, MD, HCPL, Navi Mumbai airport project,Nhava-Sewri Mumbai Trans Harbour Link, Smart Cities, proposed economic zones, affordable homes, de-congest South Mumbai, economic growth, job creation.