The Mumbai Metro Lines 2 and 5 will be 72 km long and are expected to be completed within the next six-seven years, an official said.
The approvals came at a meeting of Mumbai Metropolitan Region Development Authority presided over by its chairman, Chief Minister Devendra Fadnavis.
The 40-km long Dahisar-Charkop-Bandra-Mankhurd line will be underground with 36 stations en route and is expected to cost around Rs.25,605 crore.
The 32-km long Wadala-Ghatkopar-Thane-Kasarvadavali line will be partially elevated with total 30 stations, including six elevated, with a cost estimate of Rs.19,097 crore.
Both the lines will be funded with loans from international agencies and the central government to the tune of 50 percent, 20 percent from the state government and the rest 30 percent from MMRDA, which is executing the mega-infrastructure projects.
A pair of new two-lane flyovers, around 1,900 metres long, will link the Bandra-Kurla Complex with Rajiv Gandhi Bandra-Worli Sea Link to clear the huge rush of vehicles in the vicinity during the morning-evening peak hours.
Another pair of flyovers will connect Dharavi with the existing BKC flyover, around 2,920 metres long, which will help ease the traffic congestion at the BKC junction, towards the Sea Link and the Western Express Highway.
Additionally, a 300-metre long road will run from Dharavi to the Sea Link to help smoothen the traffic flow.
The flyovers and the road are expected to cost around Rs.227 crore, the official said.
According to a study carried out recently, the BKC junction notched a staggering 12,000-plus vehicles during the peak hours leading to huge snarls and delays, loss of precious time and fuel, besides resulting in accidents and pollution.