How will the Mumbai-Nagpur Samruddhi Expressway transform Maharashtra's real estate markets
Maharashtra Chief Minister Devendra Fadnavis on June 5 inaugurated the final 76-km-long stretch of the Samruddhi Mahamarg, making the entire 701-km Mumbai-Nagpur corridor fully functional. The completion of the corridor has cut travel time between the two cities from around 18 hours to just eight. Real estate experts say the expressway is likely to drive significant growth in property markets across several cities along the route.
With the inauguration of the final stretch between Igatpuri in Nashik district to Amane in Bhiwandi taluka of Thane district, this six-lane expressway, officially called 'Hindu Hridaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg', is likely to be open for traffic soon, the Maharashtra State Road Transport Corporation (MSRDC) said.
Besides Fadnavis, Deputy Chief Ministers Eknath Shinde and Ajit Pawar, Maharashtra ministers Dada Bhuse, Shivendraraje Bhosale and Narhari Zirwal attended the inauguration ceremony at Igatpuri, about 140 km from Mumbai.
According to infrastructure experts, the expressway will enhance connectivity between Mumbai, Aurangabad, and Nagpur, significantly cutting travel time and boosting the corridor's industrial, logistics, and tourism activity.
'This is expected to have a major positive economic bearing on the state, driving businesses across industrial and logistics, tourism, greenfield developments (newer cities/towns), alongside urbanisation and thus real estate," said Vimal Nadar, National Director and Head, Research, Colliers India.
"This will also connect with the Delhi-Mumbai Industrial Corridor (DMIC) and the Western Dedicated Freight Corridor, boosting domestic and international trade,' Nadar said.
Gulam Zia, senior executive director of Knight Frank India, notes that the final leg of the Mumbai-Nagpur Samruddhi Expressway is expected to improve travel between Mumbai and Nagpur and boost tourism in temple towns like Shirdi.
'While this development is unlikely to significantly influence the residential real estate market, it is expected to benefit the hospitality and tourism sectors,' Zia said.
Also Read: Tier 2 cities Nagpur, Jaipur, Lucknow drive India's real estate growth due to rapid infrastructure advancement
The 701-km Mumbai-Nagpur Samruddhi Expressway, now fully operational with the completion of the final 76-km stretch between Igatpuri and Amane, cuts travel time between Mumbai and Nagpur from 16 hours to just 8.
The new segment bypasses the congested and hilly Kasara Ghat, reducing travel between Amane and Igatpuri from 90 to 40 minutes. Built at a cost of ₹1,182 crore under the Hybrid Annuity Model, the six-lane (expandable to eight) access-controlled expressway is designed for safer and faster travel.
Also Read: Rustomjee Group plans to foray into data centers; launch plotted development projects near Mumbai
Beyond connectivity, the expressway is positioned as a catalyst for economic growth.
The Maharashtra government has identified 24 development nodes for agri-processing, industrial estates, tourism, and skill hubs. Logistics and warehousing clusters are planned in key cities like Nashik, Aurangabad, and Bhiwandi to boost job creation and investment, particularly in underdeveloped districts such as Wardha, Washim, and Jalna, said experts.
Nagpur, a major industrial city, is gaining attention due to its central location and connectivity via five expressways, including Samruddhi. It is home to major industrial zones like Butibori and Hingna, and the Multi-Modal International Cargo Hub and Airport at Nagpur (MIHAN SEZ) is the flagship project of Maharashtra Airport Development Company Limited (MADC), a report by Colliers said.
Since the expressway's opening in 2022- 23, land prices near Samruddhi Circle have surged 3.7x (2015–2024), with projections of a 5.2x rise by 2035. The Colliers report noted that current land prices for plotted developments range from ₹3,000 to ₹5,000 per sq ft.
The report noted other upcoming developments in the area, including Metro Phase 2 (Khapri to Butibori MIDC and Lokmanya Nagar to Hingna), expected by 2026–27, and the Nagpur Airport Expansion, including a terminal for 4 million passengers by 2030–35.
Also Read: Mumbai-based Kalpataru Ltd plans to foray into Nagpur real estate market, may launch a plotted development project
As per the Colliers report, the high-potential micro markets in the area include:
Hingna: Industrial and residential growth hub
Samruddhi Circle: Emerging luxury market with national developers
Wardha Road/Besa: High demand due to connectivity and available land
Shivmadka: Rising residential area with improved infrastructure
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