Buying a home near metro stations versus suburban train stations in Mumbai: What you need to know
Discover the changing landscape of Mumbai’s real estate market as young professionals favour homes near Metro stations over traditional suburban train stations
Historically, properties located near railway stations in the Mumbai real estate market have long commanded premium prices, owing to the convenience they offer to daily commuters travelling to work. However, a shift is quietly underway with the upcoming Metro lines.
According to real estate consultants, with the rapid expansion of Mumbai Metro lines, a growing number of homebuyers are now turning their attention toward apartments near Metro stations. This trend is evident among younger professionals and new-age homebuyers who value faster mobility.
Traditionally, properties near railway stations in Mumbai have commanded premium prices due to the convenience they offer daily commuters. However, the real estate landscape is gradually shifting with the expansion of the Mumbai Metro network.
According to real estate consultants, the rapid development of Metro lines is drawing increased interest from homebuyers, particularly younger professionals and new-age buyers who value faster mobility. As a result, apartments near Metro stations are becoming increasingly sought after.
Over seven million passengers travel daily on the suburban local trains in the Mumbai Metropolitan Region, making proximity to train stations a top priority for many homebuyers.
Currently, around 70 km of the Mumbai Metro network is operational, with plans to expand to 100 km in the coming months. Over the next two years, the Metro network is expected to exceed 300 km, further enhancing connectivity across the city.
According to real estate consultants, the rapid expansion of Mumbai Metro lines is attracting a growing number of homebuyers to apartments near Metro stations. This trend is particularly noticeable among younger professionals and new-age buyers who prioritize faster mobility.
Dinkar Shinde, a real estate consultant from Borivali, says, "Borivali is crowded, with traffic throughout the day, and there’s no new inventory near the railway station. This scenario is common across many suburban train stations in Mumbai. As a result, the Metro line along the Western Express Highway (WEH) and Link Road has opened up new options for home buyers, offering more convenient living and commuting."
Mahesh Shetty, a real estate consultant from Dadar, Mumbai, says, "In areas like Lower Parel, Parel, and Dadar, there are no new residential projects near the railway stations. As a result, homebuyers are increasingly focusing on the newly operational Metro line. The Metro route passing via Siddhivinayak Temple has also prompted the redevelopment of several old buildings in the area."
Also Read: Here’s why Mumbai’s redevelopment boom is drawing developers from Bengaluru, NCR, and Hyderabad
Shetty explains, "The per sq ft price of a property doesn't solely depend on its proximity to a metro or railway station. Factors such as the building’s age and the availability of social amenities also play a significant role in pricing. For instance, in Matunga, new projects near railway stations are priced at around ₹60,000 per sq ft, while older buildings in the same area are priced 20% to 30% lower."
According to local brokers, the per sq ft price of residential apartments in Mumbai ranges from ₹20,000 to ₹1 lakh. This price bracket accounts for the majority of transactions in the city’s real estate market.
For example, the residential apartments coming up near Siddhivinayak Temple in Dadar area of Central Mumbai cost around ₹50,000 per sq ft and upwards. The per sq ft price of apartments in the vicinity was around ₹35,000 to ₹40,000 prior to Covid-19 when the Metro line-3 was under construction, according to local brokers.
On the other hand, a residential apartment near Borivali railway station in the western suburbs of Mumbai will cost anywhere between ₹30,000 and ₹35,000 per sq ft in the under-construction stage. Historically, apartments in this micro-market around 20 years ago, were being sold under the bracket of ₹10,000 per sq ft, local brokers added.
Also Read: Here’s how metro projects in multiple cities will impact real estate markets
Bottom Line: Where should you buy?
According to real estate consultants, choosing between a home near a Metro station or a railway station ultimately depends on lifestyle preferences, daily commute requirements, and long-term appreciation goals.
"While properties near local train stations have proven value, Metro-connected homes are increasingly seen as a smart, future-oriented choice. However, if you don’t rely on public transport and own a private vehicle, opting for an apartment with a forest or sea view can offer a peaceful escape from the city’s hustle and bustle," says Piyush Jani, a real estate consultant from Goregaon.
