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Monorail project shoots up property price in Mumbai

1 Comment Sub Category:Mumbai,Realty News Posted On: Aug 22, 2012

With major infrastructure developments such as the Metro and Monorail coming up in Mumbai, property prices have shot up in areas where infrastructure development initiatives have come up.

Proposed transport systems have pushed the real estate values in Wadala-Chembur area where the first phase of Monorail is coming up. The Mumbai Metropolitan Region Development Authority (MMRDA) has declared the completion of this stretch by December 2012.

More lines linking Jacob Circle, Wadala Station and Chembur Station will be erected taking the aggregate network to 19.54 km by end next year, which will further push up the prices.

Currently, at Chembur the residential space is available at capital value of Rs 12000-16000 per sq ft and in Wadala, the capital values range between Rs 15,000-30,000 per sq ft.

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One Response to “Monorail project shoots up property price in Mumbai”

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