According to experts, the most recent expansion of the metro network in the western suburbs is likely to improve accessibility, cut travel time in half and improve connectivity in the area. Line 2A runs from Dahisar to DN Nagar and Line 7 runs from Dahisar to Gundavali, Andheri (E). Experts believe that will these new lines now functional, the demand in the nearby micro markets will experience a 2-5% price increase. Some of the biggest builders in Mumbai such as Kanakia Spaces, Lodha Group, Adani Realty and more have ready and under construction projects along close to these metro stations.
On January 19, 2023, Prime Minister Narendra Modi officially opened Lines 2A from Dahisar to DN Nagar, Andheri (W) and Line 7 from Dahisar to Gundavali, Andheri (E). Both lines will be parallel and go through the western suburbs, aiding the current overburdened and saturated road and rail transportation system.
The most recent expansion of the metro network in the western suburbs will improve accessibility, cut travel time in half and improve connectivity. The western suburb which stretches from Bandra to Dahisar is the most popular location for house purchasers in Mumbai with a large number of upscale housing projects dotted throughout. The rich group of property buyers such as Bollywood stars, industrialists, NRIs, business tycoons draw to the western suburb where they compete for a plot of land.
Shraddha Kedia-Aggarwal, Director, Transcon Developers, spoke on the effect that these new metro lines will have. In an interview captured by Mumbai Live, she says "Home ownership is on the rise in Mumbai, and the residential market in the western suburbs is glistening to the fullest extent. Due to the advancing completion dates of important infrastructure projects like Metro 2A and Metro 7, it has emerged as the location of choice for homebuyers. The high-end residential market is gaining traction in the western suburbs, and more projects are being developed as a result of the rising demand. Another important component is infrastructure, and having access to metro rail has made a difference in this regard. The new metro links in the area will set the area on a real estate growth track. As the new metro lines begin to operate and the demand in the nearby micro markets picks up, we can anticipate a 2-5% price increase.”
Himanshu Jain, VP of Sales, Marketing, and CRM at Satellite Developers Private Limited said, "The areas around the Metro rail lines in the western suburbs have grown to be sought-after housing destinations in the city due to the presence of several gated communities, luxury apartments and commercial spaces. For both end-users and investors the districts surrounding the metro corridor in the western suburb of Mumbai are quickly becoming into a hub for real estate transactions. All things considered, one may anticipate significant growth in the real estate market in these areas in the near future especially in light of measures like improved metro connectivity and the rising demand for office premises. This region promises to be a secure bet for your real estate investments in all price ranges because of the significant infrastructure development that is planned for the area.” In comparison to the central suburbs, the property rates in the western suburbs are significantly higher. This is a result of the superb social infrastructure present in this section of the suburbs, which includes premier educational and medical facilities, entertainment and shopping centres, etc.
Once the new metro lines are operational the residential and commercial real estate markets will experience an increase and we may anticipate a rise in property values.
Samyak Jain, Director of Siddha Group stated that the opening of these metro lines would assist homebuyers, "These new lines could lure an increasing number of potential homebuyers to this corridor. We believe that those on the fence should buy now because real estate prices will inevitably rise very soon.
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