Bangalore, June 18, 2014 - While transportation and connectivity becomes much easier, the impact on the Mumbai realty market is expected to be more pronounced. Historically, infrastructure developments related to transportation always had a positive impact on the capital values of the property market. Mumbai is no exception. Commercial and residential properties in and around the region definitely command a rise in its prices. An independent study conducted revealed that vicinity of a realty project to the metro railways have the authority to influence property prices in leaps and bounds. Mumbai properties lying close to the metro corridor are expected to boost up to at least 22%. Other factors contributing to the same include distance, location and income groups.
Experts are of the opinion that the metro is expected to have a long-term impact.
The Suburban Business Districts of Mumbai will experience an immense positive impact. Absorption rates along the corridors have increased considerably and will continue to remain so in the coming months. The Eastern and the Western suburbs will derive considerable benefits from the launching of the metro railways.