{"id":71136,"date":"2023-08-21T15:20:04","date_gmt":"2023-08-21T09:50:04","guid":{"rendered":"https:\/\/navimumbaihouses.com\/blog\/?p=71136"},"modified":"2023-08-21T15:21:11","modified_gmt":"2023-08-21T09:51:11","slug":"mumbai-real-estate-2","status":"publish","type":"post","link":"https:\/\/navimumbaihouses.com\/blog\/news\/mumbai-real-estate-2\/","title":{"rendered":"Mumbai Real Estate: Two New Metro Ways Are Increasing The Cost Of Housing"},"content":{"rendered":"

Mumbai Real Estate- Rents in the residential sector between Dahisar<\/a> and Andheri<\/a> have climbed between 10 and 20 percent, more than in the rest of Mumbai, according to market insiders. The Dahisar-DN Nagar (Andheri) Metro-2A corridor (along the Link Road) and the Dahisar East-Andheri East Metro-7 corridor (along the WEH) are two Mumbai<\/a> Metro lines that started running around a year ago.<\/p>\n

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. As a result, frequently not the first choice of many homeowners.<\/p>\n

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However, Mumbai real estate experts told that a 20-km metro railway connecting the Dahisar & Andheri micro-markets via these arterial highways has helped boost property demand in these locations.<\/p>\n

Rental rates in the residential sector between Dahisar & Andheri have climbed by between 10 and 20 percent, according to real estate agents and consultants. This may be linked, in addition to metro connectivity, to other factors like the need for neighbouring rent-control housing. As a result of the renovation of older buildings, which drives up rates.<\/p>\n

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The spheres of influence of the metro<\/h2>\n

The Dahisar-DN Nagar (Andheri) Metro-2A corridor (along the Link Road). And the Dahisar East-Andheri East Metro-7 corridor (along the WEH) are the two metro corridors that recently started operating.<\/p>\n

These two corridors include at least six micro-markets: Dahisar, Borivali<\/a>, Kandivali<\/a>, Malad<\/a>, Goregaon<\/a>, Jogeshwari<\/a>, & Andheri. These are all located to the city’s north.<\/p>\n

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.<\/p>\n

The metro has allayed worries that prospective residents have about snarling traffic and difficult commute. Rents between Dahisar and Andheri have increased by 15 to 18 percent as a result. Rents for homes close to metro stations have increased as well, demonstrating the value placed on accessibility &\u00a0convenience.<\/p>\n

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The scenario of renting<\/h2>\n

Rental prices in Borivali have increased by around 15% since the metro’s opening. Previously, the monthly rent for a two-bedroom flat in this area ranged from Rs 35,000 to 38,000 for older buildings and from Rs 42,000 to 45,000 for newer structures. This has since increased to Rs 40,000\u201345,000 for older buildings and Rs 45,000\u2013Rs 60,000 for newer structures.<\/p>\n

The rent increase in areas near the metro corridor is greater than that in the rest of Mumbai. According to market insiders: “While rents rose about 9 percent year-on-year (YoY) in the overall Mumbai market between January-July 2023. They have increased by as much as 15 percent in areas around the metro corridor in Malad, Kandivali, and Borivali.<\/p>\n

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Student rentals impacted<\/h2>\n

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.<\/p>\n

Student housing has been impact by the start of the metro lines from Dahisar to Andheri. Prior to now, Vile Parle college students were not prepare to leave Andheri. But now that connectivity has improved & they can save money on rentals, they are prepared to do so. The annual rental budget for these students ranges from Rs 3 to 10 lakh.<\/p>\n

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