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Metro Lines 4 and 4A, which will provide north- south connectivity between Mumbai and Thane, moved closer to financial closure with the signing of an MoU under which the German Federal Ministry for Economic Cooperation and Development (BMZ)-KfW approved two loans totalling 545 million euros. Describing the Metro line 4 and 4A as one that would ‘ease commuting stress’, these mega transportation projects are being ‘much required’ to decongest the city of Mumbai.
Metro Line 4 (Wadala in Mumbai to Kasarvadavli in Thane) and extension Line 4A (Kasarvadavli to Gaimukh in Thane) will enhance connectivity along Ghodbunder Road, Thane and have a positive impact on peripheral micro real estate markets. Providing speedy, comfortable and eco-friendly transport linkages, the line will immensely benefit many real estate developments like Hiranandani Estate Township and One Hiranandani Park (OHP) along the Ghodbunder Road.
For property buyers in Hiranandani Estate and One Hiranandani Park, Metro 4 and 4A line will not just ensure future capital appreciation, but will also give a fillip to economic growth and business development. On the Metro 4 route, two stations are strategically located from the perspective of Hiranandani Estate. Coming from Wadala, the station at Tikuji ni Wadi is just 400 metres away from OHP. The next station, Dongripada (Suraj Water Park) is just 5 mins walking distance from Hiranandani Estate Township. The metro line will augur an excellent connectivity for residential as well as commercial real estate along GB Road, Thane. The working populace will enjoy a walk to work facility across cross linkages with metro connectivity and bring ease of commuting to the citizens.
Hiranandani Estate has attracted hubs of various corporate entities across the Mumbai Metropolitan Region (MMR) for relocation and consolidation of office spaces. Top MNCs like Bayer, TCS have moved into Hiranandani Estate; it has grown into an IT and ITeS hub. Ghodbunder Road will witness business growth and economic development soaring once the Metro line commences operations. With commercial real estate including work-spaces in Hiranandani Estate firmly on the growth path; the Metro will also make the commute easier for human resources which will work in commercial realty in Hiranandani Estate.
The Metro Line 4 and 4A, once it begins operations, are estimated to help save up to 1,21,00 tons of greenhouse gases every year, thus reducing air pollution. From a commute perspective, it will also reduce the burden on overcrowded local trains. The German Federal Ministry for Economic Cooperation and Development (BMZ)-KfW approved loans to cover system components for Line 4 and 4A as well as for footpaths and cycling routes surrounding the stations to improve integration within the transport system. This will also promote healthier lifestyles for residents at Hiranandani Estate and OHP.
Globally, transport linkages like the Metro do not just enhance connectivity, but also positively impact living styles across communities, especially bringing in the eco-friendly transportation aspect. For residents of Hiranandani Estate, journeys in the Metro will also be about accruing carbon credits, while they commute in comfort.
