Mumbai Metro lines 2A and 7 to foster real estate boom, say builders

“The two lines traversing Link Road and Western Express Highway will connect the commercial and residential centres that have developed over time. In addition, the region through which these two Metro lines pass is experiencing good real estate traction, resulting in the appreciation of assets. As a result, real estate and the citizens of Mumbai will have a good time,” Valambia said.

The city’s first Metro line called Mumbai Metro One, which runs between Versova and Ghatkopar and comprises over 11 km elevated stretch, started commercial operation in 2014.

In April 2022, then Maharashtra chief minister Uddhav Thackeray flagged off the first phase of the 2A and 7 lines, the 20-km stretch from Dhanukarwadi (Kamran Nagar) to Aarey Colony in the western suburbs of Mumbai. On average, this stretch is drawing 25,000 ridership daily.

Once the entire stretch of these two lines with 30 stations and a 35-km elevated corridor becomes operational, it can carry nearly 3 lakh passengers per day, according to officials of Maha Mumbai Metro Operations Corporation Ltd (MMMOCL), which takes care of the metro rail’s operation and maintenance.

Another leading city developer Boman Irani, chief CMD of Keystone Developers (Rustomjee), said infrastructure development, particularly Metro projects, has always positively affected the real estate market. “Metro will have a positive impact on the real estate development of the city by offering better connectivity. The intersection of the two new Metro lines (Dahisar-Andheri) with the other citywide Metro lines will positively affect the whole micro market. This will increase housing demand and provide impetus to housing demand. The entire region’s real estate market will perform well due to strong demand from homebuyers seeking a better and healthier lifestyle in city suburbs.”

However, Irani stressed that he is not viewing the market only through price points as he believes the two Metro lines will enhance accessibility and attractiveness beyond price value.

The Metro lines 2A and 7, passing through Link Road and the western suburbs of Mumbai, once commissioned to the public, is expected to reduce 25 per cent of road traffic as well as decongest local trains. It will offer alternate public transportation which is affordable, safe and provides a hassle-free travelling experience, as per the Mumbai Metropolitan Region Development Authority (MMRDA), which is the nodal agency appointed by the state government for carrying out the metro projects in the MMR.

Ajay Ashar, CMD of Ashar Group And the vice chairman of MITRA, a state government-formed committee said, Mumbai is a linear city and the east-west connectivity has always impeded the financial capital’s ability to reach its full potential. “In terms of real estate, there is no doubt that the Metro projects would create new opportunities for developers. With the completion of all Metro projects, the MMR will become the epicentre of real estate growth in India and may also provide Dubai and other global markets with stiff competition,” he said.

The MMRDA is carrying out the commission of railway safety (CMRS) supervision. Once the safety clearance certification comes, the commercial operation on these lines will begin. MMRDA has also declared a mega block on the operational stretch of 20 km Sunday for the integration of Phase 1 with the upcoming Phase 2 of both Metro lines 2A and 7.