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Mumbai In Future

Mumbai, the financial capital of India is a cosmopolitan city pulsating with creativity and enterprise. As Mumbai moves ahead with the vision to be the ‘Shanghai of India’, the government is trying to convert the human resources, the connectivity and the advantage of its strategic location to become the financial capital of Asia.
  • Mumbai is one of the five cities included in the centrally sponsored Mega City Scheme launched by the Government of India in the Eighth Five Year Plan. The Scheme aims to prepare the local governments to use institutional finance and eventually market instruments like municipal bonds for the capital investment requirements. In order to induce the local bodies, of the total outlay, the Government of India and the State Government are expected to provide 25% each as grant and the remaining 50% is to be raised from financial institutions.
  • There are plans to prepare traffic dispersal model for efficient mobility and connectivity.
  • To develop major North-South road links in suburbs including a Mass Rapid Transit Connectivity.
  • To strengthen / augment the East-West Connectivity in the suburbs.
  • To provide efficient / fast pubic transport corridors and provide adequate bus terminals / bus depots and to create facilities for passengers.
  • To facilitate safe and convenient movement for pedestrians (Subways / FOBs / Footpaths) including Station Area Traffic Improvement Schemes (SATIS).
  • To provide high capacity uninterrupted road connection to both the Airports and to remove level crossings in Mumbai.
  • The master plan of proposed schemes under Maharashtra Urban Infrastructure Project (MUIP) for Eastern Suburbs, Western Suburbs and Island City including improvements / provision of DP Roads, Elevated Roads, Flyovers, ROBs, Vehicular Subways, Pedestrian Subways, Station Area Improvement Schemes (SATIS), high capacity bus corridors etc.
  • The hospitality industry in Mumbai, including Navi Mumbai is expected to see 19 new hotels, serviced apartments and mixed-use developments with approximately 4,950 rooms in assorted categories over the next five years. These developments are in tune to the increase in investments and business operations in the city.
  • The proposed development of Bandra-Worli Sea Link will significantly reduce the travel time between Bandra and central Mumbai.
  • The New Delhi-based Intercontinental Consultants and Technocrats Pvt. Ltd, a consulting firm specializing in infrastructure development, will develop two flyover projects – first, on Main Link Road at Malad-Marve Road intersection in Mumbai under the Mumbai Urban Infrastructure Project. The link road is expected to ease the heavy traffic on S.V. Road in the western suburbs. And second, for a 1.259-km long flyover on Dr B.R. Ambedkar Road from Lal Baug to Sir J.J. Road.
  • The Asia Society is to open an India Centre in Mumbai. The Asia Society has done commendable work in fostering understanding and cooperation between the USA and Asia in the field of culture, arts, economics and business; and this new association will improve business and investments within the US and India.

In last few years Mumbai has developed considerably. Due to congestion in Mumbai, it was decided by Government of Maharashtra (India) to develop Navi Mumbai area as a twin city. The rapid development and the heavy industrial growth in Navi Mumbai has changed the equation of real estate in the city with a lot of investments in the residential and retail realty sector as well.

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