Mumbai’s transport infrastructure projects, many of which were completed this year, have had a major effect on the adjoining realty micro markets.

Although improper infrastructure planning has multiplied the city’s problems, from a real estate perspective, experts say that the financial capital has seen realty prices go up.

“Homes and offices located in the proximity of transportation infrastructure command a premium because of the increased accessibility,” said Ramesh Nair, COO, Jones Lang LaSalle India, a property consultancy.

The monorail has pumped up property prices in Chembur and Wadala by over 100 per cent in just four to five years.

As has the Santacruz-Chembur Link Road, which has also boosted the Chembur micro-market perceptibly, Jones Lang LaSalle said in a report.

The fact that commuters from the Western suburbs and Suburban Business District (SBD) North will now prefer to use the Santacruz-Chembur Link Road to commute to Navi Mumbai, Panvel and other areas and back is an important and positive change for the Maximum City's real estate markets.

As companies become increasingly employee-friendly, they will value shorter commuting hours for their employees. Offices in the Bandra-Kurla Complex business district stand to gain the maximum because of this trend, as residential absorption is bound to increase in the nearby eastern suburbs.

Reduced traffic congestion at Amar Mahal junction in Chembur, Vakola in Santacruz, Sion and Kurla in the Eastern suburbs will increase the liveability quotient of these areas and boost demand for commercial as well as residential property.

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