Mumbai Metro's Line 4 set to boost real estate in Thane

The proposed metro route connecting Mumbai with adjoining Thane is aimed at providing better connectivity and boost the development of neighbourhood areas across the latter region, thereby enhancing the residential housing segment.

The proposed metro route connecting Mumbai with adjoining Thane is aimed at providing better connectivity and boost the development of neighbourhood areas across the latter region, thereby enhancing the residential housing segment.

Thane, situated on Mumbai's northwestern side, has flourished due to its connectivity to Mumbai and its comparative affordability against the same. Intending to bolster the connectivity between the two cities, the Maharashtra government has come up with several transport infrastructure projects. One of the most important among these is the metro project.

Expanding the metro route in Mumbai Metropolitan Region (MMR), the State government announced the building of Line 4 of Mumbai metro to connect the city with adjoining Thane. The estimated cost of the 32 km metro line (Wadala, Ghatkopar, Teen Hatha Naka and Kasarvadavali) is Rs 14,600 crore. According to news reports, there will be 32 stations on the track which is expected to be completed by 2022.

Realty stalwarts are positive that this project will boost the infrastructure status and provide better connectivity within Thane. The Mumbai Metropolitan Region Development Authority (MMRDA) will also extend the route further to Gaimukh Gaon from Kasarvadavali. This transit is expected to give thrust to the rental and residential market of Thane. Residential projects and localities that are situated within a radius of 1 km of the proposed stations will benefit the most.

List of proposed metro stations on the route:

Bhakti Park (Wadala TT) - Wadala Truck Terminal - Anik Nagar Bus Depot - Suman Nagar - Siddharth Colony - Amar Mahal Junction - Garodia Nagar - Pant Nagar - Laxmi Nagar (Ghatkopar) - Shreyas Cinema - Godrej Company - Vikhroli - Surya Nagar - Gandhi Nagar (Kanjurmarg) - Naval Housing - Bhandup Mahapalika - Bhandup - Shangrila - Sonapur - Mulund Fire Station - Mulund Naka - Teen Hath Naka (Thane) - RTO Thane - Mahapalika Marg - Cadbury Junction - Majiwada - Kapurbawadi - Manpada - Tikuji-Ni-Wadi - Dongripada - Vijay Garden - Kasarvadavali

Expected benefits

The 32 km stretch of Mumbai Metro's Line 4 is planned to cover 27 km (underground) and 5 km (elevated) distance. Once this project is finalised, it is anticipated to benefit 12 lakhs passengers by 2022 giving them a comfortable, speedy and air-conditioned journey. Additionally, it is going to benefit the residents of Bandra Kurla Complex (BKC) and Andheri who are travelling to Thane. At present, commuting to Thane (roadways and train) is time-consuming and inconvenient.

After the commencement of this metro route, the distance between Wadala and Kasarvadavali will be covered within 64 minutes. The completion of the metro corridor will reduce traffic snarls in the city and diminish the burden of private vehicles on the roads. Along with the metro, two car-depots spanning over 30 and 16 hectares have been proposed at Owale in Kasarvadavali and Ghatkopar, respectively.

Areas like Kasavadavali, Teen Hath Naka, Mulund, Siddharth Nagar, Wadala and Bhakti Park have started showing increased residential activity with moderate appreciation in capital values owing to the proposed metro route. “Once the construction of the metro route commences, property prices will start appreciating. More or less, if somebody invests in the residential market today, he can easily garner a healthy profit by 2022 (If the metro completes on time),” says Kalpesh Patel, Ideal Properties.

Source: 99acres.com

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