Property price in Wadala and Chembur

The following price trend gives an idea about how property prices have increased in areas such as Chembur, Wadala, Ghatkopar and Sewri since the monorail project was announced. Capital value in Wadala was at an average of Rs. 9,700 per sq.ft and Rs. 8,200 per sq.ft in Chembur before January 2009 when the construction began. Within a year after the construction of the first line commenced, the average price per sq.ft in Wadala rose to Rs. 16,100, an increase of 66% and Rs. 10,200 in Chembur, an increase of 24%. Surrounding areas such as Sewri and Ghatkopar also saw a reasonable increase in property prices. Capital value in Ghatkopar rose from approximately Rs. 6,500 per sq.ft to Rs. 13,100 per sq.ft (an increase of 101%) and from Rs. 16,600 per sq.ft to Rs. 21,000 per sq.ft (an increase of 26.5%) in Sewri.

The capital value during the second quarter of 2013 in Chembur is approximately Rs. 15,500 per sq.ft and Rs. 20,150 per sq.ft in Wadala. This is an increase of 89% and 107% in these two areas respectively in the last 4 years. Similarly, capital value during the second quarter in Ghatkopar was approximately Rs. 15,500 per sq.ft and Rs. 31,100 per sq.ft in Sewri. This is an increase of 138% and 87% respectively in the last 3 years.