April 2025 will mark a significant milestone in Mumbai's real estate landscape as Metro Line 3 (Aqua Line) extends its connectivity between Bandra Kurla Complex (BKC) and Worli. This infrastructural development is poised to elevate the property market in South Mumbai and Central Mumbai, attracting investors and boosting real estate values.
BKC stands as Mumbai’s priciest commercial hub, while Worli remains one of the city’s most sought-after residential locations. The introduction of Metro Line 3 is expected to create a surge in demand for residential and commercial properties in these premium areas. Industry experts predict that improved connectivity will further elevate property values and increase investment opportunities.
Currently, property prices in South and Central Mumbai range from ₹45,000 to ₹1.60 lakh per sq ft, depending on factors like location, age of the property, and amenities. Prominent developers such as Lodha Group, Godrej Properties, Sunteck Realty, Prestige Group, and Puravankara are actively driving the market by launching luxury and mid-segment projects.
While Metro Line 3 will significantly enhance commuting convenience, experts suggest that high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) may not rely heavily on the Metro. Instead, the recently operational Mumbai Coastal Road is anticipated to have a greater impact on high-end real estate, as it provides seamless road connectivity from Nariman Point to Worli and onwards to Bandra.
According to property consultant Harshul Joshi, both Metro Line 3 and the Coastal Road will collectively enhance South Mumbai’s real estate market, offering better accessibility and stimulating demand.
Metro Line 3, spanning 33.5 km from Aarey Colony to Cuffe Parade, is set to open its second phase between BKC and Worli in April 2025, with full corridor operations expected by July 2025. The Phase 1 launch in October 2024 connected Goregaon to BKC, passing through SEEPZ and Andheri MIDC.
With the rollout of Phase 2, the Aqua Line will connect BKC to key business districts and residential areas, including Dharavi, Dadar, Siddhivinayak Temple, and Worli. This will significantly benefit middle-class professionals commuting to business hubs like Worli, Lower Parel, BKC, Andheri, and the airport.
The expansion of Metro Line 3 is also expected to benefit redevelopment projects along its route. According to Pramod Vyas, president of SMART (South MetroCity Association of Realtors), improved transit connectivity will make redevelopment projects more attractive, encouraging investment in aging properties.
A 2024 report by Knight Frank India highlights that transit-related infrastructure projects, including Metro Line 3, will rejuvenate South Mumbai’s commercial real estate sector. Office rentals in Nariman Point, one of Mumbai’s most premium business districts, could see a rise from ₹569 per sq ft to ₹1,091 per sq ft by 2030, reflecting a strong demand for high-quality office spaces.
As senior executives increasingly prefer living in South Mumbai while working in BKC or Andheri East, the improved Metro connectivity will likely drive further interest in real estate investments in these areas. While new Grade A commercial spaces in South Mumbai remain limited, infrastructure improvements may catalyze new developments in the near future.
Mumbai Metro Line 3’s upcoming phase is set to reshape the city’s real estate market by enhancing accessibility and driving demand in both residential and commercial segments. While its impact on HNIs may be limited compared to the Mumbai Coastal Road, middle-class professionals and executives stand to benefit significantly from this game-changing infrastructure upgrade. With increased investor confidence and rising property values, South and Central Mumbai’s real estate market is poised for a new era of growth.
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