India’s urban landscape is undergoing a significant transformation, driven by a substantial wave of rural-to-urban migration. According to a recent report by Colliers, approximately 40% of the country’s population, or around 600 million people, will reside in urban areas.
To accommodate this shift and bolster urban infrastructure, India is poised to invest over Rs 143 lakh crore in various projects by 2030. This extensive investment aims to enhance urban clusters, promoting infrastructure-led urban development on a massive scale.
One of the key projects spearheading this urbanization in MMR is the Mumbai Trans-Harbour Link (MTHL), also known as Atal Setu. Operational since 2024, it is India’s longest sea bridge, connecting Mumbai with Navi Mumbai.
The MTHL has drastically reduced travel time between these two cities from two hours to just 30 minutes, providing swift access to major highways such as the Mumbai-Pune, Mumbai-Nagpur, and Mumbai-Goa highways.
This infrastructural marvel has had a profound impact on surrounding areas like Uran, Talegaon, Panvel, and Kharghar, with land prices nearly doubling from Rs 1,200 to Rs 2,250 per square foot between 2020 and 2024.
Another significant project driving this surge is the Navi Mumbai International Airport & NAINA project. Scheduled for completion by 2025, the Navi Mumbai International Airport will be India’s first airport with multi-modal transport connectivity. It is expected to alleviate congestion at the existing Chhatrapati Shivaji Maharaj International Airport and cater to up to 90 million passengers annually.
The Navi Mumbai Airport Influence Notified Area (NAINA), spanning 90,000 acres around the airport, is anticipated to drive growth, with land prices projected to rise from Rs 4,200 to Rs 16,200 per square foot in areas like Khopoli and Pen by 2030. This development is set to transform these regions into a new urban hub, termed “Third Mumbai,” fostering new residential and commercial opportunities.
Investors are encouraged to capitalize on the rapid expansion and appreciating land prices driven by these infrastructure projects. Swapnil Anil, Managing Director of Advisory Services at Colliers India, highlights that this is an opportune time for investors to explore high returns and diverse rental yield options in burgeoning markets.
Colliers India has identified eight promising micro-markets poised for significant growth due to intersecting infrastructure initiatives, access to social infrastructure, affordable land, and proximity to key urban nodes. Among these is Khopoli, situated just 45 minutes from Navi Mumbai.
It is expected to see land prices increase by nearly 3.9 times from Rs 4,200 to Rs 16,200 per square foot by 2030. Khopoli’s strategic location offers easy access to the Mumbai-Pune Expressway, Central Railway, the upcoming Navi Mumbai International Airport, and JNPT Port, making it a prime investment destination, the report stated.
