Toll-Free Mumbai: A Boost for Eastern Suburbs Real Estate
Chief Minister Eknath Shinde has announced that light motor vehicles will no longer need to pay tolls at Mumbai's five toll booths, effective midnight, October 15. This move is expected to bring significant relief to daily commuters and a boost to the rea
MumbaiTollfreeReal EstateEastern SuburbsMaharashtra Assembly PollsReal Estate MaharashtraOct 14, 2024
The five toll booths that will be affected are Dahisar, LBS Road-Mulund, Eastern Express Highway-Mulund, Airoli Creek Bridge, and Vashi. Commuters had long complained of long waiting times at these booths, and this move should ease their travel woes, especially ahead of Diwali.
Good News for Eastern Suburbs Real Estate
This move is expected to boost the real estate market in suburbs like Thane, Airoli, and Vashi. Traveling to and from these areas will become more convenient and cost-effective, making them even more attractive to potential homebuyers. With the ongoing festive season, developers can expect more traction for their projects across Thane, Airoli, Vashi, and beyond.
Thane, in particular, has been growing rapidly, transforming from a suburban location to a self-sustained city within the Mumbai Metropolitan Region (MMR). The toll waiver will improve travel times and make these suburbs more accessible, increasing their appeal to potential residents.
Overall, the toll waiver is a welcome move for Thane and nearby regions, likely to propel their real estate markets forward and make them even more desirable places to live and invest.
The Election Gimmick or Strategic Move
Activists have pointed out that the maintenance costs for these toll booths were recovered ten years ago, yet the government continued to collect tolls. In fact, the Maharashtra government had extended toll tax recovery for another three years until 2027, expecting to collect around Rs 11,000 crore.
This toll-free move tonight is being seen as a pre-poll stunt by Maharashtra's government to woo voters as it comes just before the elections, raising questions about whether the government is temporarily scrapping tolls to gain favor with the public. Opinions vary, with some viewing this as a short-term gimmick rather than a lasting solution, while others state that this toll-free move could be part of a broader strategy. However, its impact on the election outcome and real estate remains to be seen.
Frequently Asked Questions
When does the toll-free policy come into effect?
The toll-free policy for light motor vehicles comes into effect at midnight on October 15.
Which toll booths are affected by this policy?
The affected toll booths are Dahisar, LBS Road-Mulund, Eastern Express Highway-Mulund, Airoli Creek Bridge, and Vashi.
How many vehicles will benefit from this toll-free policy?
Over 600,000 vehicles that cross Mumbai daily will benefit, with 80% of these being light motor vehicles such as cars, jeeps, vans, and small trucks.
What is the impact of this move on the real estate market in Thane, Airoli, and Vashi?
The toll-free policy is expected to boost the real estate market in these suburbs by making travel more convenient and cost-effective, increasing their appeal to potential homebuyers.
Is this move seen as a pre-poll stunt?
Some view this as a pre-poll stunt to gain favor with voters, while others see it as part of a broader strategy. The impact on the election outcome and real estate remains to be seen.
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