Mumbai has several national highways passing through it. Some of the important ones are: NH-3, NH-4, NH-8 (also called Delhi Mumbai Industrial Corridor), NH-17 and NH-222. There are several important highways such as Mumbai-Nashik Expressway, Mumbai-Pune Expressway, Mumbai-Vadodara Expressway, Western Express Highway (WEH) and Eastern Express Highway (EEH). The Bandra-Worli Sea Link Bridge and Mahim Causeway link the island city to the western suburbs. There are several other arterial roads. The Vashi and Airoli Bridge connect Mumbai to Navi Mumbai. There is a third proposed bridge, Mumbai Trans-Harbour Link (MTHL) that is expected to connect the two regions.

Mumbai is the headquarters of two of Indian Railways zones: the Central Railway (CR) and the Western Railway (WR). Mumbai is also well connected to most parts of India by the Indian Railways. Long-distance trains originate from Chhatrapati Shivaji Terminus (CsT), Dadar, Lokmanya Tilak Terminus, Mumbai Central, Bandra Terminus, Andheri and Borivali. Public transport systems in Mumbai include the Mumbai Suburban Railway, Brihanmumbai Electric Supply and Transport (BEST) buses, taxis and auto rickshaws. The Mumbai Suburban Railway, popularly known as ‘local trains’ forms the backbone of Mumbai's transport system. Mumbai also witnessed the The Mumbai Monorail and Mumbai Metro became operational this year.

The Chhatrapati Shivaji International Airport is the busiest airport in India in terms of passenger traffic. An upgrade plan was initiated in 2006, targeted at increasing the capacity of the airport to handle up to 40 million passengers annually. The terminal 2 of the airport recently became operational. The proposed Navi Mumbai International Airport to be built in the Kopra-Panvel area has also been sanctioned by the Indian Government and will help in relieving traffic burden on the existing airport.

Mumbai has two major ports, Mumbai Port Trust and Jawaharlal Nehru Port Trust, which lies in Navi Mumbai. Mumbai Port has one of the best natural harbours in the world. Jawaharlal Nehru Port is the busiest and most modern major port in India.

Despite the existence of several major roads, highways and local trains, the city experiences traffic congestion, especially during peak hours, due to the population growth in the city. The Mumbai Metropolitan Region Development Authority (MMRDA) has already planned several infrastructure projects to decongest traffic in the city as well as improve the connectivity between Thane, Navi Mumbai and other parts of Mumbai.

Following are some of the major infrastructure projects in pipeline.

In order to cater to the growing demand for realty and reduce corrupt practices in the city, the government of Maharashtra and the civic bodies laid down certain policies this year.

• Data indicates that the new launched supply in MMR in 2014 was largely dominated by small and mid-sized projects (less than 500 units each), which comprised almost 85 per cent of the total project supply. Therefore, one can say that the city is expected to witness ample supply of ready-to-move-in property in 2016, followed by 2015 and 2017.

• Year 2016 is likely to see ample ready-to-move-in supply all across the region. Zone-wise, maximum unit supply will be in Navi Mumbai (about 25 per cent), followed by western suburbs and Mumbai beyond Thane with 23 per cent each.

• As for the years 2015 and 2017, maximum unit supply will be in areas beyond Thane (about 40 per cent) and western suburbs (about 23 per cent) respectively.

Property prices in prominent markets in MMR were, more or less, stable over the year 2014 with a few localities showing marginal increase.

Prices in MMR were seen to be unaffordable for many over the year as there was huge inventory pile-up while buyers preferred to wait and watch. Buyers were hoping for price corrections but no significant change was seen with exceptions of minor corrections (within 5 per cent) in certain localities. Interestingly, most of the price corrections were on ready-to-move-in supply. Developers, on the other hand, were reluctant to offer any discount on account of increased input cost and high capital cost due to high interest rates. As a result, property prices reached their peak in MMR.

• Mumbai is considered one of the most expensive real estate markets in the country. Interestingly, data suggests that MMR in 2014 witnessed maximum launch of affordable properties (< 60 lakh). Out of the total supply, about 48 per cent projects were in the affordable category. This was mainly because areas beyond Thane and Navi Mumbai witnessed maximum launches at about 74 per cent collectively. Additionally, prices here are comparatively cheaper than other regions in MMR.

• As per data, areas such as Kalyan and Dombivli beyond Thane, and Navi Mumbai top the list in the affordable range. Certain areas on Mira Road and beyond also offer apartments in this price segment.

• As expected, the western and central suburbs of Mumbai offer an equal mix of apartments in the mid (60 lakh-1.2cr), luxury (1.2 - 2 cr) and ultra-luxury (> 2 cr) segments. One may observe that due to high property values, South Mumbai caters largely to the luxury and ultra-luxury segments. However, this region witnessed less supply over the year because it is a saturated market.

For better understanding of market trends, CommonFloor has divided amenities into 3 categories - 1, 2 and 3 starting from basic to convenience to luxury as shown in the table below.

• Category 1
• Category 2
• Category 3

• As per data, out of the total new launched supply in 2014, a whopping 68 per cent supply was seen in Category 1, about 25 per cent in Category 2 and almost 7 per cent in Category 3. Unlike other metros, very basic amenities are considered in Category 1 in MMR. Paucity of land and exorbitant property prices compel builders here to do away with several amenities. More importantly, the amenities on offer become more of a luxury in MMR.

• Interestingly, as per data, peripheral areas of MMR including Mumbai beyond Thane and Mira Road and beyond comprise of maximum amenities (Category 3). Whereas in Mumbai suburbs, maximum supply comprises of projects within Category1.