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Mumbai infra development to unlock 136 million sq ft potential realty supply, report
The Economic Times  |  February 12, 2020

Kailash Babar ET Bureau

The ongoing Rs 1.8 trillion worth transit infrastructure development in Mumbai Metropolitan Region (MMR) is expected to unlock development potential of 136 million sq ft, said a Knight Frank India report.

 

Around 246 kilometres (km) of metro lines and 68 km of road projects are under various stages of construction in the MMR, according to estimates. While some of these projects would be operational in the next 3 years and will have an immediate impact on the neighbouring real estate, other projects are expected to complete over the next 4-8 year period.

 

“Infrastructure development and connectivity to employment hubs of the city play a crucial role in determining the fortunes of a real estate market. While most infrastructure projects in Mumbai are playing catch-up with real estate development, the scale of upcoming transit-oriented projects across the MMR will open up possibilities for heightened real estate participation,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

 

Knight Frank India believes some of the immediate real estate development potential are the office markets of Goregaon, Malad and Bandra Kurla Complex (BKC), Jogeshwari &ndash Vikhroli Link Road (JVLR), SEEPZ-Powai belt and near Mahakali Caves metro station, Kanjur Marg, and Chirle in Navi Mumbai.