International property consultants Knight Frank India on Wednesday released a report that identified 28 locations that are expected to be new real estate growth hotspots, benefitting from connectivity and infrastructure development of Mumbai Metro and road development projects currently underway.
The India Urban Infrastructure Report assesses the real estate impact of the transport infrastructure projects presently at various stages of construction in the Mumbai Metropolitan Region.
These locations are likely to benefit from the development of approximately 250 km of Metro lines and 70 km of road projects.
The 28 locations include Dharavi, which will benefit from Metro 3 Colaba to Seepz line. Similarly, Wadala, which is being developed as a central business district, will benefit from Metro 4 line from Kasarwadavli in Thane to Wadala, and the newly proposed Wadala-CST line.
The Metro line 12, planned from Kalyan to Taloja, will benefit Sonarpada, Manpada, Hedutane, Kolegaon, Vadavli, Bale, Waklan, Turbe and Pisarve. Similarly, the Mumbai Transharbour link and railway line extending till Uran will benefit Chirle in Navi Mumbai, the report says.
The Gaimukh-Kasarwadavli belt in Thane west and Kalher-Anjurphata-Bhiwandi belt will benefit from Metro 4 Thane-Wadala line, and metro 10 linking Thane to Mira Road.
The Thane-Bhiwandi-Kalyan Metro line 5 is expected to boost the real estate between Temghar and Kongaon in Bhiwandi.
Ulwe near the Navi Mumbai international airport is expected to be impacted by MTHL and Uran railway extension.
“Infrastructure development and connectivity to employment hubs of the city play a crucial role in determining the fortunes of a real estate catchment. As several million residents would use the upcoming infrastructure projects daily, most catchments along the project corridor stand to gain,” said Shishir Baijal, chairman and managing director, Knight Frank India.
(Source: Mumbai Mirror)
