High-Speed Bullet Train Will Increase Demand for Real Estate
The state’s deputy chief minister recently said that the Mumbai-Ahmedabad bullet train project has received all necessary approvals from the Maharashtra government. The National High-Speed Rail Corporation Limited (NHSRCL) then released a request for proposals for the design and construction of a tunnel system and underground station at BKC for the project’s bullet train.
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Ashwini Vaishnaw, the railway minister, also tweeted, “Bids invited for design and construction of Mumbai underground station and tunnels for #BulletTrain.” According to NHSRCL authorities, the first phase of the high-speed rail route between Mumbai and Ahmedabad will be finished in 2026.
The bullet train will include a 21 km tunnel beneath the sea and stop at 12 stations. Including BKC, Thane, Virar, Bilimora, Boisar, Surat, Bharuch, Vapi, Vadodara, Anand, and Sabarmati. While BKC already serves as the city’s business centre, experts predict that after this declaration, Thane, Virar, and Boisar’s residential skylines would see significant changes. The bullet train, according to asset advisors in these regions, will fundamentally alter these regions and greatly promote economic growth.
Present Situation
A total of 1396 hectares of land are needed, however as of March 2022. Only roughly 1248 hectares have been obtain. In Gujarat, about 99.4% of land acquisition has been finish, compare to barely 60% in Maharashtra. The completion date has been delay to October 2028 as a result of the delay in Maharashtra’s land acquisition process.
Bullet Train’s Impact on the Real Estate Sector
The demand for residential, retail, & commercial real estate will change in a variety of ways as a result of this high-speed train network connecting two vibrant metropolises.
Real estate development is accelerating quickly in places like Dombivli, Thane, & Kalyan as the project increasingly takes shape. Since this project would significantly improve connectivity, nearby locations will develop more quickly, which will cause a rise in real estate prices.
Let’s take a closer look at the neighbourhoods of Mumbai that will particularly profit from this large-scale endeavour.
Improves connectivity between Mumbai & Ahmedabad
While the train will improve connectivity between Mumbai & Ahmedabad, it will also instill great confidence in the residents of Thane by providing a seamless connection to BKC. People typically drive down from Thane or change trains because BKC is home to many business offices. They will have a quick way to get to work once the bullet train is running.
This very reality is project to propel the western suburbs. Which have always been quite affordable (regions like Virar and Boisar), into the spotlight. “Real estate prices have increased by five to ten percent since the announcement. Demand-supply dynamics will determine whether prices will rise or fall over the long term. It all depends on how buyers would respond and assess their investment possibilities.
As opposed to the present six-hour trip time, the bullet train will get passengers there in three hours.
Once the train is fully operational, there is little doubt that it would be a big boost for the entire belt, including Thane. There won’t be much of a difference between travelling from Gujarat to Maharashtra & from Virar to Churchgate. Boisar will also profit, albeit gradually, as there is now an abundance of housing stock on both the residential & commercial fronts, while demand has yet to pick up.
How will Dombivli E be changed by the bullet train?
Dombivli E is an intriguing place. It is one of the remaining areas in Mumbai with excellent rail and road connectivity and a large amount of undeveloped land bank. With projects like the Airoli-Katai tunnel road, the Navi Mumbai metro, and the bullet train. The region has experienced tremendous expansion along the Kalyan-Shil corridor in the past ten years. And the trend is expect to continue.
While the BKC area of Mumbai is established and a centre for business, the bullet train line will have a significant positive impact on up-and-coming real estate hotspots like Dombivli & Kalyan. Even flawless connectivity to these locations would be provided.
Comfortable Connectivity
Currently, the trip from Dombivli to BKC takes about 1.5 hours. However, commuters may go from Dombivli to BKC quickly because to the constant frequency of bullet trains. As a result, a Dombivlikar will travel in 30–40% less time, and guess what? The ease and comfort will be much-neededly improve. And commuters will be proud to use one of India’s infrastructure projects every day!
Boost for Infrastructure
The named Thane stop on the bullet train line is really at Dombivli E. Which is only a few hundred metres to a few kilometres from Dombivli station. Once the station is operational, a neighbourhood will grow up around it to fulfil the demands of commuters. Additionally, road construction in accordance with the city development plan will be increase to give better access to the station from nearby locations.
According to the Development Plan, a sizable network of roads has already been envisaged, and the bullet train line will prove to be a catalyst for the growth of these roads, giving nearby households a significant boost in terms of connectivity & property value.
The demand for affordable homes in Dombivli will be fuel by the high-speed rail track. People today demand more from their homes, including experiences that enhance their quality of life. Therefore, there is a significant demand for residential buildings that provide a wide range of facilities, lush green open spaces, contemporary designs, and seamless connection. Developers can provide these experiences because to Dombivli E’s extensive landbanks.
Marathon Nexworld is one such residential development that is altering the real estate landscape in Dombivli. Smart 1 and 2 BHK residences in beautiful skyscrapers are offer in a massive township project in the smart city of Dombivli. Nexworld combines luxury and affordability for the ultimate experience. Your dream home in Mumbai can be found at Nexworld in Dombivli. Where family residences start at about INR 18 lakh.
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