by Ashish Shelar, a prominent Mumbai political leader during a joyous handover event

Mumbai, October 17, 2024: Transcon, a leading real estate developer, proudly announces the successful delivery of 148 SRA units to the residents of Sai Durga SRA Co-operative Housing Society, Santacruz (W), Mumbai. This momentous event was marked by a ceremonial handover attended by Shri Ashish Shelar, a prominent political leader and advocate for urban development, highlighting the company’s dedication to improving urban living standards.

The SRA component of Transcon’s commercial project, Ramdev Plaza, symbolizes the company’s ongoing commitment to providing quality housing solutions for the community. During the event, Shri Ashish Shelar expressed his admiration for Transcon’s efforts, stating, “This initiative marks a significant step toward transforming the lives of these residents. Access to safe and adequate housing is crucial for creating a better future, and I commend Transcon for their unwavering commitment to this important cause.”

Ms. Shraddha Kedia-Agarwal, Director of Transcon Developers, shared her enthusiasm, saying, “We are excited to deliver these SRA units to the residents of this community. Our goal has always been to provide quality housing solutions that not only meet the immediate needs of the community but also promote long-term sustainability. We believe that every individual deserves a safe and dignified place to call home, and this project exemplifies our commitment to making that a reality.”

The newly constructed homes in Santacruz are designed with a focus on functionality and comfort, providing residents with access to essential amenities and a secure living environment that enhances their overall quality of life. This milestone reinforces Transcon’s dedication to social responsibility and its efforts to positively shape the urban landscape of Mumbai.

Transcon’s commitment to social housing aligns with its broader mission to enhance urban living through innovative and sustainable development practices. The company remains committed to collaborating with government authorities and community stakeholders to deliver impactful projects that support the overall growth and development of Mumbai.

The successful completion of the SRA component of the Ramdev Plaza project stands as a testament to Transcon’s dedication to creating positive change in the communities it serves. As Transcon continues to expand its portfolio, it remains focused on delivering high-quality, affordable housing that empowers residents and enriches their lives.

Mumbai’s real estate sector is set for a significant transformation with the launch of the first phase of the Mumbai Metro Line-3. During a recent visit to the city, Prime Minister Shri Narendra Modi inaugurated this crucial infrastructure project, marking a new era of connectivity for India’s financial capital. The first phase of the Metro Line-3 connects Bandra Kurla Complex (BKC) to Aarey, spanning the JVLR section. As Mumbai’s first underground metro, the Aqua Line will revolutionize travel in the city, featuring 10 new stations, including key transit hubs such as T2 and Santacruz, thereby easing congestion and reducing travel times.

The full 33.5 km route of the Aqua Line connects Aarey to Cuffe Parade, incorporating 27 stations along its path. The recently launched first phase spans 12.5 km between Aarey and BKC, offering an important boost to the city’s transport network. Moreover, this metro line will integrate with Mumbai Metro Line 1 at Marol Naka, offering improved connectivity across Mumbai’s key regions.

Mr. Anil Mutha, Chief Visionary & Co-Founder, Nandivardhan Group highlighted the transformative nature of these developments, stating, “The government’s commitment to improving Mumbai’s infrastructure is commendable. The launch of Mumbai Metro Line-3 is a transformative milestone for urban transportation. This will drastically improve connectivity and help ease congestion in vital corridors. Once the Metro 3 is fully operational, it will enhance accessibility for residents commuting between Dadar in south-central Mumbai and the northern suburbs, significantly benefiting daily commuters. Additionally, the operational metro corridor is expected to stimulate holistic development in the South Mumbai real estate market, particularly around Dadar, by improving connectivity to key areas like BKC, Worli, and Marine Lines.”

Elaborating on benefits to SoBo residents, Mr. Vedanshu Kedia, Director of Prescon Group stated, “South Mumbai is back on the real estate map with high-impact infrastructure projects that are announced and ongoing such as the Coastal Road, Bandra-Worli Sea Link Extension, Sewri-Worli Elevated Corridor, as well as Metro Line 3. There will be significant advantages for residents of Mahim, Dadar, Matunga, Worli, who will benefit from enhanced connectivity to the rest of Mumbai and Navi Mumbai. These micro markets have significant scope of redevelopment potential due to their large stock of ageing real estate. Once these initiatives are operational, property values and volumes are anticipated to increase significantly. We feel that the market share for these micro-markets will significantly improve in the residential and commercial property transaction pie of MMR Region.”

Commenting on the impact on the region, Mr. Rohan Khatau, Director, CCI Projects added, “The Metro 3 and Metro 7 along with the Western Express Highway will significantly ease connectivity in the Kandivali-Borivali belt. This will inevitably lead to a surge in housing demand, as the area becomes more accessible and attractive for potential homebuyers seeking well-connected residential options.”

Reflecting on the benefits for homebuyers, Mr. Umesh Jandial, Chief Business Officer, Omkar Realtors & Developers shared, “There is already significant demand for housing in the western suburbs, especially in the Malad-Goregaon belt. The convergence of Metro Line 3 with existing Metro lines 1 & 7 will further fuel housing demand in this region. Improved connectivity, lifestyle amenities, and the convenience offered by projects in the western suburbs will greatly enhance the lifestyle for homebuyers along this metro corridor.”

Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers emphasized the strategic importance of these developments, stating, “These infrastructure initiatives are pivotal for Mumbai’s future. The focus on underground metro systems and freeway extensions represents a forward-thinking approach to urban planning. Areas like Santacruz, Andheri, and Malad along the western line will see heightened demand, with the improved mobility expected to stimulate both residential and commercial growth, making Mumbai a more competitive global city.”

Mr. Himanshu Jain, VP – Sales, Marketing & CRM, Satellite Developers Pvt. Ltd. highlighted the Malad-Goregaon region’s growth potential noting, “The combined impact of Metro 3 and Metro 7 will drive residential and commercial development in the Malad-Goregaon region. For millennial homebuyers, the proximity of their homes to workplaces is a crucial factor. Compact homes and studio apartments near their workspace allow them to maintain a balanced lifestyle, offering more quality time with their families.”

Looking ahead, additional infrastructure projects like the extension of the Santacruz-Chembur Link Road (SCLR) and the forthcoming Phase II of Metro Line-3 are set to further enhance Mumbai’s transport network. These initiatives are critical for alleviating congestion and meeting the needs of the city’s growing population and economic aspirations.

As Mumbai embraces these transformative changes, the impact on daily commuting and the city’s global standing will be profound. By 2025, the seamless integration of air, road, and metro networks is expected to position Mumbai as a world-class urban center, prepared to tackle the challenges of its expanding population and dynamic economy.