Metro brings in cheer for investors

Having a mass transit system, or a Metro is a sure shot way to notch up property prices in your city by a 20-25 per cent annually. A look at past experiments – Delhi, Bangalore and Mumbai prove this hypothesis beyond any doubt. Armed with government approvals, the latest the join the bandwagon are Chennai and Ahmedabad. Both these cities will soon be witnessing large scale Metro track implementations across their length and breadth. While in Chennai, this will be a monorail, in Ahmedabad, a metro is underway.

“Independent analyses of pricing reveals that proximity to a metro station can single-handedly account for a 22 per cent variation in land values, the other factors being location, distance of the land from the central point and income groups,” says Ramesh Nair, COO – Business, JLL India.

For instance, Mumbai’s monorail resulted in a hike in property prices in Chembur and Wadala by more than 100 per cent within a time span of 4-5 years. Chembur also benefitted from the upcoming Santacruz–Chembur Link Road (SCLR). Similarly, the areas which are going to be connected by the Mumbai Metro have also recorded a price hike of 400 per cent in a span of eight years, adds Nair.

Mumbai’s story was clearly a revision of what was noticed in Delhi and Bangalore. Property prices in localities directly connected by the Delhi Metro went up significantly in a span of 2 to 3 years. For Bangalore, Vidhyadhar Naik, Bangalore Real Estate, Member NAR India and BRAI, has stated earlier, “Indira Nagar, MG Road and Baiyapannahalli, directly connected by the Namma Metro of Bangalore, recorded a year-on-year price appreciation of almost 20 per cent.”

 To Know More   Metro brings in cheer for investors

About Us

 MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.