The film has been directed by Madhur Bhandarkar, who is known for his depiction of real-life dramas and his unconventional storytelling method.
'Traffic signal' portrays 60 characters, all of them a take from the mean streets of the sprawling metropolis.
Moviegoers here said the film stood up to their expectations, and also raised queries about several burning issues.
"Yes, it's a Madhur Bhandarkar movie, and there were a lot of expectations from the movie and he lived up to it. A lot of sensitive issues have been addressed in the movie. It is entertaining and it is a good blend of entertainment and knowledge like Madhur Bhandarkar always puts through his movies. Yes, I liked his movie," said Devyani, a student.
Bhandarkar, who made his directorial debut in 1999 with a low-key film called "Trisakti" (Three Powers), tackled some of those themes in his earlier films like "Chandni Bar", which was about a bar dancer, "Page 3", about Mumbai's glitterati and 'Corporate' about the ins and outs of the corporate world.
The National Award winning director described 'Traffic Signal' as 'dark humour'.
"It's a dark humour, fast paced movie – two hours and five minutes. It's the perspective of both the worlds – people sitting in the car and people outside the car. What happens on the traffic signal, one traffic signal or junction called Khelkar Marg...how many people are there...60 people are there in the movie. It's like the trilogy of my earlier films," said Bhandarkar.
Actor Konkana Sen, who plays a sex worker in the film, said initially she had reservations about accepting the role.
"The language which I had to speak was something very alien to me. Language was very street-Mumbai. Body language was very aggressive, very unlike of what I am. The clothes and the whole get up, including the make-up... the whole get up was very different. So in that sense, I was a little apprehensive," said Sen, who has also acted in Bhandarkar's 'Page 3'.
Mumbai, a teeming city of 17 million people, is home to some of India's richest and most glamorous people as well as its poorest, including millions of migrants who come to the city chasing their rags-to-riches dreams.
Its underbelly is ruled by mafia dons, small-time thugs and a sleazy night-life that used to be dominated by beer bars where young women in traditional Indian costumes danced to Bollywood numbers before they were recently outlawed.