Devendra Fadnavis, Maharashtra Chief Minister, has stated that parts of Vasai, Palghar Taluka and other parts of Pen, Alibaug, Khalapur and Panvel Talukas in the Raigad district will soon be under the jurisdiction of the MMRDA (Mumbai Metropolitan Regional Development Authority). He has also issued his approval for the establishment of the Mumbai Metro Operation Corporation Limited which will oversee the maintenance and regular operations of the Mumbai metro railway network.
Devendra Fadnavis also holds office as the Chairman of MMRDA and he has also approved the detailed project report (DPR) for metro lines 10, 11 and 12 which are new routes. The route number 10 will span Mira Road from Gaimukh to Shivaji Chowk, covering 11.2 kilometres. There will be four elevated stations for this route. Additionally, the Wadala-CSMT line 11 will cover 11.4 kilometres with 10 stations, two of which will be elevated. The Kalyan-Dombivali-Taloja metro line 12 will cover 20.75 kilometres as an extension of the Metro 5 network. This will be a fully elevated route with 17 stations. All three DPRs have been given for approval by the State Government along with the PIU (project implementation unit) for the multi-modal transport corridor between Virar and Alibaug spanning 97 kilometres at a cost of Rs. 39, 841 crore. The MMRDA will also work to develop the Kalina Campus of Mumbai University.
The metro route and MMRDA jurisdiction expansion decisions are major milestones for the real estate markets in areas like Panvel, Vasai and Palghar while the metro railway network will also boost real estate markets surrounding these new metro corridors. The residential and commercial real estate sectors are expected to receive a massive boost from these new initiatives undertaken by the Maharashtra State Government as per reports.
