The Virar Alibaug Multimodal Corridor
The Virar Alibaug Multimodal Corridor (MMC) spans 126 kilometers and operates as an access-controlled expressway. A study by the Mumbai Metropolitan Region Development Authority (MMRDA) forecasts that this initiative will cut travel times between Virar and Alibaug in half. Although planned by the MMRDA, the Maharashtra State Road Development Corporation (MSRDC) is responsible for executing the project, which is scheduled to be completed in two phases. The MMC has been designated as an expressway with 8 to 14 lanes and is estimated to cost approximately Rs 55,000 crore. Designed to support speeds up to 120 km/h, the corridor is expected to be finished by 2030.
The Virar Alibaug Corridor will connect Raigad, Thane, and Palghar through National Highway 8 (NH8), Bhiwandi Bypass, NH3, NH4, NH4B, the Mumbai Pune Expressway, and NH17. Phase-1 of the Virar Alibaug Multimodal Corridor will cover a 96.41-kilometer stretch from Navghar to Balavali, requiring over 1,347 hectares of land and projected to cost more than Rs 22,000 crore. Phase 2 will extend 29.9 kilometers from Balavali to Alibaug. Reports estimate the land acquisition cost for the Virar-Alibaug Corridor to be around Rs 55,000 crore, with updated village lists available on the MMRDA website.
The Virar Alibaug Multimodal Corridor is expected to have a profound impact on the region’s real estate sector. It will enhance job opportunities in seven key growth centers within the Mumbai Metropolitan Region (MMR): Virar, Bhiwandi, Kalyan, Dombivli, Panvel, Taloja, Uran Khopta Township, and the NAINA area. This development is anticipated to stimulate residential and commercial growth in areas like Chirle, Ranjanpada, Vindhane, Chirner, Sarde, Vasheni, Punade, Sai, Dighati, Panvel, and others. Ongoing infrastructure projects such as the Navi Mumbai International Airport (NMIA), JNPT Port, Mumbai Trans Harbour Link, and Dedicated Freight Corridor are further boosting the area’s development potential. CIDCO and NAINA are currently overseeing development, with increasing investor interest in residential and commercial plots earmarked by government bodies. This collective effort has officially named the region “Third Mumbai,” indicating its evolution into a new urban hub.
Completion of these infrastructure projects is expected to bring significant changes to the real estate landscape, including substantial appreciation in property values. The Virar Alibaug Multimodal Corridor is poised to broaden the scope of development, as land scarcity increases in Third Mumbai and Navi Mumbai. Various infrastructure initiatives, including the Virar Alibaug Multimodal Corridor, Mumbai Trans Harbour Link, Mumbai Coastal Road, Navi Mumbai International Airport, Seawoods – Belapur – Uran Railway corridor, water taxi services, and Metro expansions, are unlocking new nodes poised to emerge as the next real estate hotspots.
Investors are actively investing in lands slated for acquisition along the Alibaug to Virar multimodal corridor, often yielding returns four times the initial land value. The Crescera Group holds a significant amount of land within this corridor and engages in trading activities, providing opportunities for investors to participate in this lucrative market.
