The Mumbai Metro – A game-changer for Residential Properties in Mumbai
As per the latest Mumbai property news, this 11-km Versova-Andheri-Ghatkopar route possess almost all the qualities of a game-changer for the city's transportation and residential properties in Mumbai. Transportation and infrastructure industries have a very positive effects on real estate values in a metro city like Mumbai. Independent pricing analyses shows that just the proximity to a Metro station can alone accounts for around 22 per cent of variation in land pricing, other than this there are various reasons, like how far is land from the central point and income groups etc.
Further with the extension of Jogeshwari-Vikhroli Link Road (JVLR), the Santacruz Chembur Link Road (SCLR) and the Wadala-Chembur Monorail - the VAG corridor is creating buzz in Mumbai property news . Realty industry is seeing bouyancy in residential properties in Mumbai. Each of these infrastructure initiatives have had a very good effect on the adjoining realty micro markets.
Developers' interest in residential properties in Mumbai has increased very much near the Metro. It started ever since the start of the construction. The areas which will benefit from Metro connectivity are already making waves in Mumbai property news, these areas are already seeing increase of almost 400 percent over the past few years, and this trend is going to continue for long time. With the commencement of this Metro, the surrounding areas will definitely experience a certain boom related to new offers and price hikes. Rates on both the commercial and residential market will set to increase, as the properties of northern SBD, BKC and SBD central are among the most preferrable locations for investors.
As per the Mumbai property news, Metro is the biggest among the series of mega-projects such as the Eastern Freeway, SCLR and Monorail in the past few years. The combined effect reflect positively on Mumbai's real estate market - residential properties in Mumbai and retail markets in Andheri, Jogeshwari and Ghatkopar will see huge growth, especially those near the Metro stations.
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