Maharashtra Chief Minister Devendra Fadnavis has said the Mumbai Coastal Road North project will decongest the Western Express Highway, which carries around 60% of the city’s traffic, and confirmed that the Bandra–Versova stretch is expected to be completed by March 2028.
Real estate experts said the project is likely to impact property markets along Mumbai’s western corridor. Once the Versova–Bhayandar stretch is completed, it will create seamless connectivity from Nariman Point in South Mumbai to Bhayandar in the Mumbai Metropolitan Region (MMR), significantly reducing travel time and improving accessibility across key residential and commercial micro-markets.
Following an inspection on June 14, Fadnavis said that once fully completed, the Coastal Road will offer seamless connectivity between Nariman Point in South Mumbai and Bhayandar in the Mumbai Metropolitan Region (MMR). The southern stretch linking Nariman Point to the Bandra Worli Sea Link became operational in March 2024, while the northern section will extend connectivity from Versova to Bhayandar.
“The Coastal Road will bring great relief to Mumbai residents. Today, 60 per cent of Mumbai’s traffic passes via the Western Express Highway (WEH), and to reduce the pressure on it, we are preparing a signal-free road from Nariman Point to Bhayandar. Our effort is that this entire project will be completed by October-November or December 2028,” the Maharashtra chief minister said.
Fadnavis said the government was aiming to complete the section by March 2028, while the Versova-Bhayandar stretch and its connectors were targeted for completion by December 2028. He also said the state government decided to develop the periphery around the Coastal Road into a modern commercial hub on the lines of Bandra Kurla Complex (BKC).
The Versova–Bhayandar stretch of Mumbai Coastal Road North: What it means for real estate markets
Real estate experts believe the biggest beneficiaries are likely to be residential markets in the western suburbs, including Bandra, Khar, Santacruz, Juhu, Andheri, Versova, Malad, Kandivali, Borivali, Dahisar, Mira Road and Bhayandar. Improved connectivity to South Mumbai and key business districts could enhance the appeal of these locations among both homebuyers and developers.
The project is also expected to support property values in South Mumbai neighbourhoods such as Worli, Breach Candy and Nariman Point by improving connectivity to the suburbs. In the commercial real estate segment, office markets in Bandra-Kurla Complex (BKC), Andheri and other western business districts could benefit from easier access and reduced commuting times.
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1) Goregaon and Malad
These are two of Mumbai’s most active residential and commercial real estate markets over the past two decades. The presence of major business districts such as Mindspace, NESCO IT Park, Infinity IT Park, Oberoi Mall, and multiple media and entertainment hubs has significantly boosted housing demand, according to local brokers. The micro-market attracts both end-users and investors due to its balance of employment opportunities, social infrastructure, and connectivity via the Western Express Highway, Metro Line 2A, and the suburban railway network.
Local brokers said that capital values in Goregaon East, Goregaon West, Malad East and Malad West have witnessed steady appreciation over the years. Premium projects in Goregaon command prices ranging from ₹30,000 to ₹60,000 per sq ft, while several luxury developments trade above ₹60,000 per sq ft.
In terms of rental value, a 2 BHK apartment could cost from ₹60,000 to over ₹1.5 lakh, depending on location and amenities. Corporate leasing remains a key driver of demand, local brokers said.
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2) Kandivali
Kandivali, on the other hand, is another area that will be connected via the Mumbai Coastal Road North. According to local brokers, Kandivali is primarily a residential and educational hub, with several colleges in the vicinity. Capital values in Kandivali range from ₹25,000 to ₹40,000 per sq ft, while luxury projects can exceed these levels, and rental value for a 2 BHK apartment generally commands rents between ₹40,000 and ₹70,000 per month, depending on project quality and location, local brokers said.
3) Borivali
Borivali has evolved into one of Mumbai’s most sought-after end-user residential markets. The suburb offers a combination of connectivity, established social infrastructure and proximity to green spaces such as the Sanjay Gandhi National Park and the Creek view of the Arabian Sea. Capital values in Borivali range from ₹30,000 to ₹55,000 per sq ft, and rental values for a 2 BHK apartment range from ₹45,000 to ₹80,000.
4) Dahisar
Dahisar represents the northern gateway to Mumbai and has emerged as an affordable extension of the western suburbs. Improved connectivity through the Western Express Highway, Metro Line 2A and proximity to Mira Road have enhanced the area’s attractiveness among homebuyers, local brokers said. Capital values in Dahisar range from ₹18,000 to ₹30,000 per sq ft, depending on project quality and location. Rental value for a 2 BHK apartment ranges from ₹35,000 to ₹50,000, local brokers said.
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5) Mira Road–Bhayandar
Mira Road–Bhayandar is technically part of the Mumbai Metropolitan Region (MMR) and is outside the city limits. The locality has attracted significant housing development due to relatively affordable prices, ample land availability, and improved connectivity to Mumbai via road, rail, and metro infrastructure. Capital values here range between ₹12,000 and ₹25,000 per sq ft, while rental value ranges between ₹20,000 and ₹40,000 per month, depending on location and project amenities, brokers said.