The Mumbai Metro

Several years after New Delhi, the country's political capital, witnessed a transformation with the implementation of the Delhi Metro, the financial capital of Mumbai is set to experience a similar phenomenon with the imminent commissioning of the Versova Andheri-Ghatkopar (VAG) corridor of the Mumbai Metro. With equity participation from Reliance Infra and Veolia (a French transportation major), this PPP initiative has all the hallmarks of a game-changer for the city's transportation and realt ..

Real Estate Share gain on Budget Plan

MUMBAI: Real estate stocks surged as much as 11 per cent after Finance Minister Arun Jaitley today announced plans to provide incentives for establishment of real estate investment trusts. Reacting positively to this, shares of DLF zoomed 10.66 per cent, while HDILBSE -3.50 % jumped 10.49, Prestige Estates ProjectsBSE -1.57 % (10.23 per cent) and Indiabulls Real EstateBSE -5.38 % (9.12 per cent) on the BSE. Oberoi RealtyBSE -3.84 % climbed 7.22 per cent, UnitechBSE -5.64 ..

Property rates expected to double by 2017

Property rates in the Eastern Mumbai District (EMD) which encompasses Karjat, Neral, Shelu and Khopoli are expected to double by 2017, according to Brick Eagle, a financial services platform for affordable housing development in India.

"Property investment here remains a good, safe, low-risk investment with average rates of Rs 3000 per square foot and an upward trend incomparable to other areas in the real estate market," it said.

"Based on trends seen in Navi Mumbai and Panvel, it is estimated that property prices will continue to rise to Rs 6,000/sq ft by 2017, Rs 8,000 per sq. ft. by 2020, Rs 15,000 per square feet by 2025 and to an astounding Rs 30,000 per square feet by 2030; an incredible 900% appreciation in 16 years," it added.

The report said that with upcoming infrastructural improvements and developments like the construction of the 12 lane multimodal corridor, the ambitious Delhi Mumbai Industrial Corridor, the expansion of educational and IT infrastructure and the slated extension of rail connectivity, "the Eastern Mumbai District is well poised to become a self-sustaining metropolis."

www.jaghey.com