Mumbai Metro Line VI which is also referred as the Lokhandwala-Jogeshwari-Vikhroli-Kanjurmarg corridor is an important transportation system which will further enhance the connectivity of the eastern and western areas of Mumbai. The 14.47 km long corridor will be fully elevated and be built at a cost of Rs. 6,672 crore.
The line will connect Swami Samarth Nagar-Lokhandwala in Andheri in the western suburbs to Vikhroli and Kanjurmarg in the eastern suburbs. As per the state government notification, the line will get operational by 2022. Apart from the connectivity, the major factor which is seen to boost a lot is the real estate of the surrounding areas. Let us see how:
Length of the corridor
A 14.47 kilometers stretch; the Metro Line VI will have 13 stations and will connect east Mumbai to the west. These stations include Lokhandwala Complex, Adarsh Nagar, Momin Nagar, JVLR, Shyam Nagar, Mahakali Caves, SEEPZ Village, Saki Vihar Road, Ram Baug, Powai Lake, IIT Powai, Kanjurmarg (W) and Vikhroli-Eastern Express Highway.
It will also have interchange stations with Metro line, 2, 3 4, and 7 at Infinity Mall in Andheri, SEEPZ, the Mumbai Suburban Railway at Jogeshwari and Kanjurmarg and, JVLR respectively.
Features of the corridor
A fully elevated line is all set to reduce travel time between the eastern and western Mumbai by 45 minutes. The trains will be of 6 coaches and the daily ridership has been estimated to be 6.5 lakh commuters by 2021. Kanjurmarg will be developed as a fully functional metro depot.
Property Trend around the corridor
With Metro line VI, major suburbs of the city will come closer to each other and the property prices of the area are estimated to rise. It is also expected that the line will bring down traffic on roads and easy transportation from one part of the Mumbai to other. Apart from this, the proposed infrastructural developments like Western Express Highway, Eastern Express Highway, SV Road, Jogeshwari-Vikhroli Link Road and LBS Marg will further enhance property price and trends in and around the area.
Currently, residential property in Jogeshwari west and Kanjurmarg are available at an average rate of 16950 sq ft. and 15000 sq ft. respectively. While, these prices have already escalated to a high appreciation of 24.7 and 19.2%, respectively in Kanjurmarg and Jogeshwari west in last few months, areas like SEEPZ and Andheri East also seen a surge in residential property rates.
Many known realtors have already come with their projects in these areas as well as home buyers are also attracted because of good connectivity, social infrastructure, and well-developed amenities.