MMR- The next Realty Destination in India
CBRE, the leading property consultancy firm report makes it clear that with the government planning major infrastructure projects in the Mumbai Metropolitan Region, the area is emerging as a growth centre for real estate sector. There has been a significant increase in demand for commercial and residential properties in areas where major infrastructure projects are planned.
CBRE South Asia Co-head – Capital Markets India & Head West India Nikhil Bhatia mentioned that there has been a significant development in real estate along the Eastern Freeway. Housing prices in locations such as Chembur and Ghatkopar increased by around 28-30 % over the last two years.
Bhatia also mentioned that the Eastern Express Highway, which connects south Mumbai to eastern suburbs and stretches all the way to Thane, has benefited areas like Mulund, Bhandup, Kanjurmarg and Vikhroli due to improved connectivity. The Mumbai Metropolitan Region (MMR) is a metropolitan area consisting of the metropolis of Mumbai and its satellite towns.
Mumbai Metro’s Phase I has enhanced east-west connectivity and also improved the real estate profile of locations like Ghatpokar, Vidyavihar and Vikhroli. The Chembur-Wadala-Jacob Circle monorail has also improved real estate activities in these areas.
Hence the slogan of BJP- ‘’acche din aane wale’’ hain is true for Mumbaikars.
Source- The Economic Times
MMR, MMR (Mumbai Metropolitan Region), MMRDA Mumbai, Mumbai Metropolitan Region Development Authority (MMRDA), Realty Destination in India
