Mumbai Metro’s Aqua Line: How Will it Impact the City’s Real Estate Market?

By Lodha

Whether you want to grow professionally or personally, Mumbai offers opportunities to everyone who comes to the city. However, travelling across its many localities and neighbourhoods can become a time-consuming affair. Thankfully, the city’s robust public transport network is its backbone and allows millions to commute across its length and breadth. The Mumbai Metro is another welcome addition to the metropolis’ already existing railway, roadway, bus, rickshaw, and kaali peeli network. Residents of the city are waiting for Mumbai Metro’s Line 3, also known as the Aqua Line, to reach completion and make their commutes even more seamless. Similarly, investors and homebuyers are keeping their eyes peeled for the impact of the Aqua Line on the city’s real estate market.

What Sets Mumbai Metro’s Aqua Line Apart?

Developed by the Mumbai Metro Rail Corporation Limited, the Mumbai Metro Aqua Line will stretch across 33.5 km and connect the Colaba-BKC-SEEPZ corridor. While 26 of the Aqua Line’s stations will be subterranean, one station will be on ground level. The Aqua Line will reduce travel times between South Mumbai and northern areas substantially, providing much-needed relief to commuters. Additionally, it will also go a long way in decongesting the city’s roads, reducing traffic, air pollution, and levels of noise. However, the completion of the Aqua Line is also expected to have an impact on the city’s real estate market. Industry insiders expect the Aqua Line to serve as a game-changer for the city’s real estate market; here’s how:

Growth:

The primary aim of the Aqua Line is to connect far-flung localities and reduce travel time between opposite ends of the city. As the metro line connects different areas, it is expected to create opportunities for greater infrastructural development and refurbishment in surrounding localities. With greater connectivity and better infrastructure, the demand for housing in affected areas is likely to rise, leading to an influx of homebuyers in the market. For instance, areas like Andheri East have been viewed as largely commercial locations. However, the Aqua Line is likely to foster the growth of residential projects in the suburb. Lodha Acenza, in Andheri, is a precursor to the kind of real estate development the area will witness in the near future.

Connectivity:

Since the Aqua Line will link different areas of the city, it will offer enhanced levels of connectivity to commuters and working professionals. As a result, homebuyers will broaden their horizons and look for residences in areas that might not be close to their place of work. Previously under-invested areas will witness an increase in property rates and housing demand. Commercial areas like the Central Business District (CBD) and Secondary Business Districts (SBDs) will also see an uptick in investment. Lodha Park and Lodha Trump Tower, located in Worli, are perfect residential spaces for buyers looking to settle close to the city’s thriving business districts.

Property Rates:

The completion of the Aqua Line is expected to have a ripple effect, positively impacting the city’s real estate landscape. Industry insiders are anticipating a rise in average property prices in areas along the metro line. For instance, property prices in Worli have already increased by 20.9% over the last three years as the neighbourhood has become one of the most sought-after residential areas. At Lodha, our penchant for staying ahead of the curve has allowed us to anticipate a rising demand for homes in Worli. From Lodha World One, with its luxurious apartments and state-of-the-art amenities, to Lodha Park, with its open green spaces and sprawling homes, we have transformed Worli one stellar project after another.

Investment:

The Aqua Line is also likely to benefit investors, creating opportunities to earn returns. Areas along the metro line are expected to see a surge in demand for residential and commercial properties. As property demand in these areas rises, prices will also appreciate, generating lucrative investment opportunities. Whether you choose to rent or resell property along the metro line, chances of earning returns are likely to increase. According to industry experts, areas under the metro route have already experienced an appreciation of 10-20%. At Lodha, we like to stay ahead of the curve and enable you to invest in premium properties along the Aqua Line, including Lodha Bellevue in Mahalaxmi, Lodha Evoq in BKC and Lodha Bellagio in Powai.

It is safe to say that Mumbai Metro’s Aqua Line is likely to impact the city’s real estate landscape for the better, just like Lodha transforms your life for the better.