Metro rail is boosting residential projects adjoining the station

By Accommodation Times News Service

Soon Mumbai is going to enjoy its first Metro train, the first Metro rail of Mumbai from Versova-Andheri-Ghatkopar the project is on edge of completion and is expected to be commenced by the month of September. The Metro has given a boost to the residential projects near the Metro stations. The regions near the Metro stations are witnessing development with many new residential projects, with the upcoming of Metro.

MMRDA’s first phase of the Versova-Andheri-Gahtkopar Metro line is a major infrastructure development in Mumbai and with its development it is boosting other developments in the city. The developers and builders in the city are attracting buyers towards their projects on the basis of Metro rails, more than 35 projects are coming up in the Versova-Andheri-Ghatkopar areas. The Metro is covering total 12 stations, which will connect Central suburb with western suburb.

The maximum projects are constructed at Andheri one of the popular western suburb of Mumbai, Metro trains will cover the maximum area of Andheri, out of 12 stations 9 stations fall at Andheri. Hence, the region is in more demand almost 25 new projects are coming up at Andheri east and west areas, adjoined to the Metro stations. The Western Express Highway station and Airport Road station are high on demand as they are easily accessible from all means of transport. Projects with 1-4 BHK luxury apartments valuing from Rs. 70 lakh-1 crore and above are available in the area.

Ghatkopar, the popular Central suburban area’s demand has increased with the projection of Metro line, about 10 new residential projects are arising. The developers are offering 2-4 BHK luxury apartments at Rs. 1 crore-5 crore. The Metro connectivity will ease the commuting between suburban areas and other means like highway and airport.

A property broker of western suburban area said, “there is a noticeable increase in the projection of the new projects in the area, due to Metro line, big developers like Hubtown Ltd., Kamala Group, RNA Corp, etc are up with their projects.” When asked about the property rates he said, “the property rates are expected to be increased once the Metro is started, there can be an increase of about 15-20 per cent in the property rates.”





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