New Railway Link Planned from CST-Panvel to Thane
The Mumbai Railway Vikas Corporation (MRVC) is planning to connect Thane to the existing Chhatrapathi Shivaji Terminus-Panvel express corridor, via Kurla. MRVC is planning to connect CST-Panvel to Thane via an elevated loop from Kurla.
The idea of the new elevated link emerged during the execution work of the fifth and sixth lines between Thane and Diva. This option is being considered as the earlier option of an elevated corridor between Thane-Kalyan and CST-Kurla would not be feasible due to land and engineering related constraints. MRVC also realized that the existing corridor could not be extended from Panvel to Thane due to the Parsik tunnel. However, connecting it via Kurla would be financially viable.
The civic body is planning to submit the proposal for the additional line to the railway board in a fortnight. The approval process may take about three months and preparation of a detailed project report would take an year after approval. A railway board member said that the proposal was feasible since the CST-Panvel corridor passes via Kurla and only 15 km of additional line has to be built between Kurla and Thane. This new line will also bypass the existing CST-Byculla-Dadar-Kurla main line.
Possible effects on real estate
If the proposal of the new line between Kurla and Thane is approved, Kurla will become a major junction on the high-speed central railway corridor as there will be four routes via Kurla viz., CST-Panvel, Panvel-Kurla-Thane and two lines between CST-Thane via Kurla.
Since any new infrastructure project leads to appreciation of property prices in the project-linked locality, property rates in Kurla too can be expected to rise. The locality’s proximity to Bandra-Kurla Complex, the first of the growth centres in South Mumbai, is already an important contributor to the capital value. The prices can be expected to rise further with the introduction of the new railway line. Since Thane will be connected to Kurla directly through the new link, this will shorten the commute time between Thane and Mumbai CST. Hence, property values in Thane too can be expected to go up.
According to current trends, the average capital value of multistorey apartments in Kurla is between Rs. 12-600-13,250 per sq-ft. The average property price for multistorey apartments in Thane ranges between Rs. 10,050-10,350 per sq-ft, while it ranges between Rs. 8,700-10,800 per sq-ft for individual houses.
