Navi Mumbai Metro Line 1 – The Real Estate Opportunity
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The much-awaited Navi Mumbai Metro is making its grand debut this month with its Metro Line 1, and Navi Mumbaikers just cannot wait for it. Excitement is on the rise anticipating the smoother and faster line of commute that’s just around the corner and everything is primed and set to welcome this new metro.
The building of this metro system is vital for Navi Mumbai. The speed at which this city is developing, every nook and corner of the area is being upgraded every single day. The rapid infrastructural evolution, both, at a social and economic level, is speedily raising the quality of living of the area.
Due to this, Navi Mumbai is ripe to be invested in, with potentially rewarding opportunities cropping up every single day.
Keeping these in mind, Navi Mumbai was in need of a superior travel network, and this is the gap that the Navi Mumbai Metro (NMM) bridges.
A line of credit worth Rs500 Cr was taken from ICICI bank and in order to begin cracking down on it as soon as possible, the Navi Mumbai Metro Line 1 was announced to launch into business.
So here is everything that’s to know about the Navi Mumbai Metro Line 1.
The Navi Mumbai Metro Line 1 covers the stretch between Belapur, all the way to Pendhar, before finally retiring into the car depot at Taloja. Running a total of 11.1kms, the track conveniently has 11 stops, boosting the quality and ease of travel within Navi Mumbai.
Now that the number of stations have been mentioned, let us list them off: -
- Central Park
- Pendhar Terminal
- Petha Pada
- Science Park
- Sector-7 Belapur
- Sector-11 Kharghar
- Sector-14 Kharghar
- Sector-34 Kharghar
- Utsav Chowk
A network between these 11 stops strengthens the connectivity of the area and highly enhances the travel experience for all those who need to travel in the city.
The fare for the metro has been set to be extremely affordable for the residents, at Rs10 for 2km, Rs15 for 2km-4km, Rs20 for 4km-6km, Rs25 for 6km-8km, Rs 30 for 8km-10km and Rs 40 above 10km. The cost of the ticket is extremely budget friendly and is an indication that the demand for personal and private properties is coiled and all set to blow-up
The estimated Rs. 3063.63 Cr has been put to good use on this metro, carrying a hefty set of 24 coaches (8x3), reaching tops speeds of 80kmph and average speeds of 34kmph. CIDCO has appointed Maha Metro to be the metro rail operator of the NMM.
Investment Opportunities: -
The NMM seems to be on track to be an immense level up for the transit in Navi Mumbai, a step that had become dire to take, with respect to the speed at which the city is progressing. Once all the lines are functional, the city is sure to be tightly bound with its networks of travel and completely prepared for a new phase of development. This new phase would also usher in a steep rise in demand for real estate in the area as well.
Infrastructural Developments: -
The construction of major infrastructure projects such as the Navi Mumbai International Airport, and the Mumbai Trans Harbour Link, in tandem with the Navi Mumbai Metro has increased the city's real estate potential even further. These projects will upgrade connectivity within the city and with neighbouring areas, transforming it into a business and investment hub.
Smart City: -
The government's emphasis on transforming the city into a smart city has resulted in the implementation of several technology-based initiatives such as CCTV surveillance, intelligent traffic management systems, and free Wi-Fi zones, making the area very appealing to people.
Rental Yields and Capital Appreciation: -
The Navi Mumbai real estate market offers a wide range of options, from low-cost homes to luxury villas and commercial properties. Pre-launch offers, under-construction projects, and ready-to-move-in properties are available to investors. With a minimum investment of Rs 50 lakh, investors can expect high rental yields and capital appreciation.
With the anticipated influx of home and office buyers, the time cannot be better to invest in Navi Mumbai and reap a long time of benefits. Capitalize on this upcoming opportunity and help not just your future, but the future of Navi Mumbai as well.
Article authored by: Team Propfynd
Date: 7th April, 2023