Mumbai Metro Line 3 boosts South and Central real estate

Mumbai's Metro Line 3 is set to open in April, connecting the Bandra Kurla Complex (BKC) and Worli. This is significant for the city's expensive real estate market. BKC is known for its high-end commercial properties, while Worli is a sought-after residential area. Real estate experts believe the new metro line will drive demand and investment in South and Central Mumbai. The Aqua Line stretches 33.5 kilometers and links several key areas, enhancing commuting for residents. Despite this, it is thought that wealthy residents in Worli may prefer the nearby Mumbai Coastal Road for travel. This coastal project is expected to better serve ultra-high-net-worth individuals, offering quicker access to western suburbs. The impact of the Metro on the working-class population in South Mumbai is expected to be limited. However, those living in nearby areas like Worli and Dadar are likely to benefit. The Line 3 infrastructure is anticipated to transform commuting patterns in the region, facilitating easier access to major business hubs. Experts believe that both the metro and the coastal road will boost real estate demand in South Mumbai. The area has seen property prices ranging from ₹ 45,000 to ₹ 1.60 lakh per square foot, with demand likely to rise as transportation improves. The influx of new office spaces is also projected, contributing to anticipated rent increases, particularly in Nariman Point. Overall, the upcoming Metro Line 3, along with other infrastructure improvements, is expected to revitalize South Mumbai's real estate market, benefiting both residential and commercial sectors.