Mumbai’s real estate landscape is set for a transformation as the second phase of Metro Line 3 (Aqua Line) gears up to connect Bandra Kurla Complex (BKC) and Worli in April. This expansion will link India’s most expensive real estate hubs, driving demand and investment opportunities in South and Central Mumbai.

BKC, Mumbai’s most expensive commercial district, and Worli, a high-end residential zone, are expected to witness increased property interest following the Metro extension. “Both infrastructure projects — the Metro Line 3 and the Coastal Road — will collectively boost South Mumbai’s real estate market, enhancing accessibility and driving demand,” said Harshul Joshi, a property consultant from South Mumbai.

Industry experts believe the Metro’s impact on ultra-high-net-worth individuals (UHNIs) and high-net-worth individuals (HNIs) will be limited despite improved connectivity. “HNIs are less likely to use the Metro; for them, the Mumbai Coastal Road will be far more beneficial,” experts noted. The Coastal Road project, which connects Nariman Point to Worli and extends to Bandra via the sea link, is expected to be a bigger draw for luxury real estate buyers.

With per square foot prices ranging from ₹45,000 to ₹1.60 lakh in South and Central Mumbai, leading developers like Lodha Group, Godrej Properties, and Sunteck Realty are actively shaping the region’s residential and commercial offerings. The Metro extension will benefit mid-segment Dadar, Mahim, and Siddhivinayak Temple housing.

“There are several redevelopment projects along the Metro Line 3 route that will benefit from the Aqua Line,” said Pramod Vyas, president of SMART (South MetroCity Association of Realtors). The new metro line will improve daily commuting for middle-class professionals and executives who travel between South Mumbai, BKC, and Andheri.

Commercial real estate in South Mumbai is also poised for growth. A 2024 report by Knight Frank India predicts that office rentals in Nariman Point could rise from ₹569 per sq ft to ₹1,091 per sq ft by 2030. “With Metro-3 boosting accessibility, we anticipate growing interest in real estate. Although new Grade A commercial spaces in South Mumbai are currently limited, this could improve as connectivity expands,” Vyas added.

As Mumbai Metro Line 3 progresses toward its entire operation by July 2025, its impact on residential and commercial real estate will become increasingly evident. While the ultra-rich may favour road infrastructure like the Coastal Road, the Metro is set to redefine connectivity for a broader segment of Mumbai’s workforce and investors.