Introduction How Two New Metro Routes Are Increasing The Cost Of Housing

How two new metro routes are increasing the cost of housing rents in the residential sector between Dahisar and Andheri have climbed between 10 and 20 percent, more than in the rest of Mumbai, according to market insiders.

The Western Express Highway (WEH) and the Link Road in Mumbai’s western suburbs were long thought to be remote from the city’s suburban railway network and, as a result, frequently not the first choice of many homeowners.

The Dahisar and Andheri micromarkets are connect by a 20-kilometre metro railway, which has assist in increasing housing demand in these locations.

Rental rates in the residential sector between Dahisar and Andheri have climbed by between 10 and 20 percent, according to real estate agents and consultants. In addition to metro connectivity,

These may be attribute to additional factors, such as the need for neighbouring rental units as a result of ancient buildings being renovate, which drives up rents.

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The Metro Areas Of Influence

The two metro corridors that have recently begun operation are the Dahisar-DN Nagar (Andheri) Metro-2A corridor (along the Link Road) and the Dahisar East-Andheri East Metro-7 corridor (along the WEH).
At least six micro markets can be found along these two corridors: Dahisar, Borivali, Kandivali, Malad, Goregaon, Jogeshwari, and Andheri. These are all located to the city’s north.

In Mumbai, renters and homebuyers typically have three alternatives when selecting a neighbourhood. For people who commute by car, these include apartments near arterial roads like Link Road or WEH or apartments towards the west, where the sea is.

“The metro has allayed prospective residents’ concerns about congested traffic and a challenging commute. As a result, rents between Dahisar and Andheri have climbed by 15 to 18%. Rents for homes close to metro stations have increased as well, demonstrating the value placed on accessibility and convenience.

The Scenario Of Renting

Since the opening of the metro, rental prices in Borivali have grown by about 15%. In the past, the monthly rent in this region for a two-bedroom flat was between Rs 35,000 and 38,000 for older buildings and between Rs 42,000 and 45,000 for modern construction.

According to Dhiren Doshi, a real estate consultant from Borivali, this has now increased to Rs 40,000 to Rs 45,000 for older buildings and Rs 45,000 to Rs 60,000 for newer structures.

Market experts claim that Mumbai’s metro-along neighbourhoods have experienced a higher rent increase than the rest of the city. “While rents increased by about 9% YoY in the entire Mumbai market between January and July 2023, rents in Malad, Kandivali, and Borivali neighbourhoods were higher based on our statistics and have increased by up to 15%.”

Student Housing Is Affect

Real estate agents claim that students who attend schools in and around Andheri and Vile Parle prefer not to rent outside of Andheri. But because of the metro, they feel free to go beyond.

“Student housing has been impact by the opening of the Dahisar to Andheri metro lines. Prior to now, Vile Parle College students were not prepare to leave Andheri. But now that connectivity has improve and they can save money on rentals, they are prepare to do so. The annual rental budget for these students is between Rs 3 and Rs 10 lakh.

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