Mumbai Metro to Boost Thane Realty

The Maharashtra government is

planning to extend Versovaend
of Mumbai Metro I up to Wadala and
Ghatkopar and further up to Teen Hath
Naka and Kasarwadavali in Thane This
will form the fourth route of the Metro in
the region The extension of metro line
up to Thane is expe!ted to boost the
realt" market in the region
The route in brief
#ites$ a multi%dis!iplinar" !onsultan!" &rm under the 'entral government is
!urrentl" doing the feasibilit" stud" of the new route ( detailed stud" report
is expe!ted to be available b" (ugust )*th this "ear (!!ording to the !hief
minister of Maharashtra$ the new route will be built on the lines of Metro III$
whi!h will be built with the help of a loan from the +apanese ,ank of
International 'ommer!e This means that the new line will !ome up using
loan from a &nan!ial institution instead of !alling for private developers and
investments
(s per preliminar" report$ the pro-e!t is expe!ted to !ost about #s ..$///
!rore The metro will also have .0 stations along the new metro line from
Wadala to Teen Hath Naka
Areas to be benefted
The extension from Ghatkopar to Thane is expe!ted to !over almost 1/ per
!ent of Thane 2ome of the ma-or areas that will be !overed in Thane apart
from Teen Hath Naka and Kasarwadavali in!lude 3okhran #oad ) and .$
Vasant Vihar$ Ma-iwada$ Ghodbunder #oad and Hiranandani 4state (ll these
important and fast growing areas in Thane and Thane West
Metro to boost Thane realty
The extension of line to Thane is expe!ted to hugel" bene&t Thane realt"
se!tor (reas in Thane su!h asGhodbunder #oad$ 3okhran #oad 5) and
.6$ Ma-iwada and Vasant Vihar are fast growing areas These areas are
witnessing a number of residential pro-e!ts as the" are !lose to Mumbai and
relativel" !heaper than the western suburbs of Mumbai The time taken from
these areas to rea!h Mumbai is however over 7* minutes in the present
tra8! !onditions With the extension of the Mumbai Metro I to these areas$
the !ommute time will redu!e to )*%./ minutes Hen!e$ the Mumbai metro
line will hugel" bene&t people !ommuting between Mumbai and Thane
regularl" for work
With the redu!tion time in !ommuting$ more people ma" look at pur!hasing
propert" in Thane and !onse9uentl"$ there will be a growth in demand (s a
result$ these areas !an expe!t good appre!iation in propert" values when the
work starts on this line The approximate propert" value in 3okhran #oad is
#s )/$///%))$.// per s9 ft and inMa-iwada$ it is approximatel" #s
)/$1//%))$:// per s9 ft ;ne ma" expe!t the pri!es to appre!iate b" at least
*/ per !ent on!e the metro be!omes fun!tional in the region
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