A popular neighbourhood in Mumbai, Ghatkopar has emerged as a residential hub, courtesy of its smooth connectivity and robust social infrastructure. However, it wasn't until the inauguration of Line 1 of the Mumbai Metro in June 2014 that the locality experienced a boom in its real estate sector, especially with properties in Ghatkopar West. Also known as the Versova-Andheri-Ghatkopar line, the rail network stretches over 11.40 km and comprises 12 stations, connecting Andheri's western and eastern suburbs.
The ambitious project was built at an estimated cost of ₹4,321 crores, boasting a carrying capacity of 60,000 passengers per hour, with the elapsed time being 21 minutes, reducing the commuting time between Versova and Ghatkopar by 70 minutes. Jointly owned by Reliance Infrastructure Limited and MMRDA, the Blue Line of the Mumbai Metro would prove to be a game changer for the realty industry in Ghatkopar West.
Top developers demonstrating interest
After its commencement in 2008, developers and builders began laying the groundwork for building properties in Ghatkopar West, with big names like Ajmera, Ashapura Realtors, Wadhwa, Runwal, and Swastik Group having exciting projects in the pipeline. With property prices increasing rapidly in the western suburbs, Ghatkopar remained an unexplored domain, offering better space and a wide range of housing options, with the developers playing to the gallery.
An array of housing options available
Though primarily having a mid-segment population, Ghatkopar West also has luxury pockets. The current price per sq. ft in the locality stands at an estimated ₹19,900. According to studies, buyers prefer properties for less than ₹50 lakhs, with 1 BHK flats being the most popular configuration.
Line 1 of the Mumbai Metro has helped Ghatkopar connect to prime business hubs of both Andheri's western and eastern regions and the Chattrapati Shivaji Maharaj International Airport.
Besides the already present rapid network of roads and railways, via a fleet of BEST buses and the Ghatkopar West Railway Station serving the locality.
Robust social infrastructure
Given the flourishing real estate and connectivity, there has been an evident increase in the inflow of people, with Ghatkopar West currently having a population of approximately 1.8 lakh residents over an area of 5.06 sq. km. Hence, increasing demand for social amenities like schools, colleges, and hospitals, with the authorities and government meeting most needs.
Emerging manufacturing hub
While its proximity to commercial hubs like Kurla, Vikhroli, and Powai helps boost its real estate demand. The improving connectivity and space availability has led to several companies setting up their manufacturing units, such as Eagle Manufacturing, Dev Life Corporation, and pharmaceutical companies like Dev Life Corporation, Atman Pharmaceuticals, and Omega Healthcare.
Metro Lines 2A and 7
Recently, flagged off, metro lines 2A and 7 have only made lives easier for the average Mumbaikar, having 17 and 13 stations, respectively. With Line 2A connecting with Line 1 via DN Nagar, commuting has only become easier for Ghatkopar West residents who wish to travel to other suburbs like Goregaon, Malad, Borivali, Kandivali, and Dahisar for work or other purposes.
The benefits are vice-versa for the residents of the latter suburbs, making commuting to the business hubs in Andheri East and Ghatkopar easier. Therefore, there is no doubt that the metro has changed the landscape for real estate, especially in the western region of Ghatkopar.
The Mumbai Metro has provided a sigh of relief for the Mumbaikars, not only in terms of saving time and resources but also in boosting investment in the relatively less popular areas of the financial capital, with the real estate sector being the prime beneficiary. Hopefully, the blog has served its purpose of giving you an in-depth analysis of the impact of the metro on properties in Ghatkopar West. With ongoing construction on various other metro lines and the upcoming coastal road, the realty industry has a lot coming.
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