Mira Road Future: Unveiling Exciting Development Prospects
Mira Road, nestled in the northern suburbs of Mumbai, Maharashtra, split into two distinct sections: Mira Road East and Mira Road West. These twin townships form a significant part of Mira Road Mumbai. It has long been viewed as a transit point rather than a destination in itself. However, recent years have seen the emergence of several large-scale infrastructure projects and real estate in Mira Road projects aimed at transforming the future in Mira Road into a major residential and commercial hub. With enhanced connectivity through the upcoming Metro line and major townships in the pipeline, the future of Mira Road is poised for the remarkable expansion and development of Mira Road.
This blog provides a comprehensive overview of some of the most significant Mira Road future developments that are set to shape Mira Road’s transformation into a bustling urban core or Naya Nagar. From proposed townships to infrastructure enhancements, including the rich Mira Road history, these plans not only promise to increase real estate in Mira Road but also to enhance the social and civic facilities available to its residents. This blog offers insights into the future in Mira Road and its growth potential by shedding light on these exciting upcoming projects.
Future Development of Mira Road
Here are specific examples of Mira Road future developments that are poised to change the landscape of Mira Road and are approved by Mira Bhayandar Municipal Council:
1. Social Amenities:
Mira Road is a self-sufficient region, boasting not only future prospects and connectivity but also an abundance of social amenities that make it an attractive place for families looking for real estate in mira road. The neighbourhood is home to esteemed educational institutions like NL Dalmia School, Podar International School, GCC International School, and others. The presence of shopping centres such as Maxus Mall, Star Bazaar, and DMart ensures that residents can conveniently find everything they need. Leading hospitals in the vicinity, such as Bhaktivedanta Hospital & Research Institute and Wockhardt Hospital, provide quality healthcare services.
2. Green Living and Infrastructure Projects:
The city often overwhelms its residents with its fast pace and pollution. This can lead to health issues and a lower quality of life. In contrast, Mira Road developments offer abundant green spaces, uninterrupted scenic views, and the serene backdrop of Vasai Creek. This translates to the Development of Mira Road which has a higher quality of life, with better air quality and lower temperatures compared to other parts of the city. Notably, the Surya Regional Water Service project is in the works, set to provide 403 million litres of water per day to the Mira-Bhayander Municipal Corporation (MBMC) and Vasai-Virar City Municipal Corporation (VVCMC).
3. New Projects:
One of the standout real estate in Mira Road is Srishti, an expansive township crafted in 1985 by Kalpataru, Dynamix Group, and N.L. Dalmia Group, covering over 100 acres. Srishti has pioneered real estate in Mira Road, introducing innovative concepts like sewage treatment plants for optimal water resource utilisation. Its allure stems from a blend of commercial and authentic country vibes, complemented by expansive green spaces that provide a soothing retreat after a long day.
Currently, Srishti Namaah is introducing a new tower featuring two-bedroom homes with sundecks and efficient space utilisation. This 9+ acre property boasts over 30 attractions for individuals of all ages, including a meditation gazebo, swimming pools, a skate park, and a clubhouse. Its strategic location, just 1.4 kilometres from the Western Express Highway and 1.8 kilometres from the railway line ensures easy access to the western suburbs and Thane. Schools, hospitals, and shopping malls are all within a 4-kilometre radius, making daily life more convenient.
4. Future Lifestyle:
Future in Mira Road is set to witness a thriving retail, dining, and entertainment cultural real estate in Mira road. With its population expected to grow significantly, the area will be able to support high-street retail corridors, malls, and restaurants, 1 bhk in Mira road, 2 bhk in Mira road and other types of flats in mira road catering to local needs. Developments like Hirco Shine City will host international brands, and multiplexes and entertainment zones will allow residents to enjoy an active urban social life.
Mira Road developments in healthcare and educational infrastructure will provide easy access to quality healthcare services and a holistic education system. International schools and upgraded civic schools will ensure that residents can meet all their healthcare and educational needs without having to travel to Mumbai.
Additionally, Real Estate in Mira Road is emerging as a work-live urban hub, with grade-A office spaces set to attract IT/ITES companies. This will enable professionals to seamlessly live and work in the same location, appealing to young homebuyers and renters.
Forecasting Property Values in Mira Road
Mira Road Thane, as a whole, has grown into a self-sustained township with a thriving community. The East and West regions complement each other, providing residents with a wide range of choices, from housing to educational institutions, shopping centers, and recreational facilities.
Rising prices and demands are already evident in future in Mira Road, with property prices appreciating by over 20% in the last two years. Mira Road’s strategic location near Mumbai positions it as an attractive residential and investment growth destination. The upcoming Metro line will further strengthen connectivity, solidifying its status as a viable Mumbai suburb.
Large gated communities like Hiranandani Parks and Essenza 40 will create their own micro-markets within Mira Road due to superior infrastructure projects and amenities. Properties within a 1-2 km radius of these townships are likely to witness 30-40% higher appreciation compared to other areas. The burgeoning demand for quality grade A office spaces from corporates is expected to drive rental yields of over 8-10% for leased commercial properties in Mira Road. Land and building rates are set to appreciate at a faster pace than residential rates in the new development of Mira Road.
In the next 5 years, as infrastructure projects are completed and new supply comes online, average residential prices are expected to double. In premium locations, 2BHK flats could appreciate from the current rates of Rs. 60-80 lakhs to Rs. 1-1.5 Crore. By 2030, with its complete transformation, property values in future in Mira Road may witness a three- to fourfold increase from current levels.
Connectivity and Access in Mira Road
Mira Road East is a vibrant and rapidly developing area that offers a plethora of residential and commercial options. It’s known for its well-planned infrastructure and easy accessibility to essential amenities. On the other side of the railway tracks, we find Mira Road West, another vital segment of Mira Road Thane. This region, too, is witnessing rapid growth, and it is home to numerous residential projects, schools, and healthcare facilities.
With excellent connectivity to other parts of Mira Road Mumbai offers a strategic location for those who work in the city but prefer a suburban atmosphere.
A number of infrastructure projects upgrades have contributed to this portion of Mumbai’s metropolitan growth story. The projected connectivity development of the Andheri-Dahisar-Mira-Bhayandar metro line (9,7, 2A) will eliminate 30 kilometres of travel time between the Mumbai suburbs and Mira-Bhayandar which is done by railway line:
- Line 9 runs from Mira-Bhayandar East to Dahisar East.
- Line 7 connects Dahisar East to Andheri East.
- Line 2A connects Dahisar with DN Nagar (Andheri West).
- Line 2B will be an additional extension connecting Mankhurd and DN Nagar.
The extension of these metro lines will allow passengers to have seamless travel from Mumbai’s northern corridor to the eastern and western suburbs making it another advanced metropolitan city. Other upcoming initiatives in future in Mira Road approved by Mira Bhayandar Municipal Council include three flyovers on Mira Bhayandar road, a Borivali-Thane tunnel route that would reduce travel time between the two areas to around 15 minutes, and a four-lane Gorai-Bhayandar road for a seamless commute. A 45-metre-wide road has also been proposed in the Mira Bhayandar Municipal Corporation Limits from the present Link Road at Dahisar to Bhayandar (West). This is a method of reducing traffic congestion at the Dahisar check naka. These developments will reduce traffic congestion and allow people to commute with ease and peace of mind. When it comes to east-west connectivity, the Goregaon-Mulund Link Road will be a game changer. Commuting to and from Mira Road will be a breeze because most corporate hubs are in Andheri, and Mindspace is in Malad.
The future in Mira Road is on the cusp of a significant transformation, thanks to numerous large-scale Mira Road future developments in infrastructure projects and real estate in Mira Road. These upcoming projects, including townships and commercial hubs, Naya Nagars, are not only poised to drive unprecedented growth in future in Mira Road but also to establish it as a significant destination for living and working. With the promise of enhanced connectivity through the Metro and other transport developments, rising prices, and its proximity to Mumbai, the future in Mira Road is emerging as an attractive investment growth and residential option for both end-users and investors. As the neighbourhood evolves into a bustling urban centre, residents can look forward to a global standard of living.
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