Mumbai Realty to be affected by Metro Railway: Jones Lang LaSalle
The first railway link of Mumbai which is about to connect Versova Andheri with Ghatkopar very soon is going to expect a game changer pretty soon for the megapolis realty landscape. This piece of information was given by Jones Lang LaSalle today itself who happens to be a property consultant himself.
A price appreciation has already been seen in areas that would benefit from metro connectivity in the past 8 years. This trend is going to continue in the launch of the metro railway link. The Railway Board yesterday itself gave its final sanction so that the commercial operations can begin with. This is going to reduce the travel time to about 21 minutes when it was about 90 minutes earlier.
Also we found out that the rates of both commercial and residential markets would increase. This is primarily because the properties in the north as well as the secondary business districts as well as the Bandra Kurla Complex and Central Business District tend to be the most valuable and best locations for all those who happen to be investors, said Nair.
Source – PTI, Mumbai
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