Turbhe-Airoli Route to Lead High Property Prices
Real estate agents are all set to see hike in real estate prices in areas from Airoli to Turbhe because of cumulative factors, such as completion of Rabale Railway station, higher train frequency from Thane to Vashi link and plans to enhance the Thane-Belapur road. Currently, the Central Railways is operating 18 services in one rake from Thane to Vashi and 9 from both ends. Once the proposal has been approved to expand the services from 18 to 22 by the Central Railway headquarters, the services will be operational. According to the Railway officials, the plan is expected to see green signal by this week.
According to AK Tiwari, Addl. Divisional Railway Manager in Mumbai, the department has done all the ground work required. Once they get the approval, they will start additional services and time table will be changed slightly. Currently, trains take around 36 minutes for covering the 18 km stretch from Thane to Vashi. The Railways is planning to short the travel time down to 31 minutes. It will be possible when the speed of trains will be increased and the changeover time taken by crew members at stations will be reduced.
In Thane-Vashi stretch, the real estate prices had steadily been grown up by 5 to 7 percent till the year 2004. Last year, real estate prices have seen great surge. Last year, the prices have seen a hike of around 25%, according to Rajesh Prajapati, President, Builders Association of Navi Mumbai. Higher train frequency will be attracting investors from Dombivali, Thane, Ambernath and Ulhasnagar to own a property in this stretch, according to Anil Bagaria, Real Estate Agent based in Navi Mumbai. According to him, there are still no signs of quick price hike because availability outperforms the demand in this region.
The actual effect of rail link will be seen when train’s frequency reaches around 15 to 20 minutes, according to Prajapati. Builders are expecting to see spurt in property prices just after the completion of Rabale railway station by the year end. The property prices and demand are increasing with the new rail connectivity.
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