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Will Monorail drive up realty prices after Phase II?

DNMUM405436 | 1/13/2018 | Author : Varun Singh | WC :457

DNA In-depth

Mumbai’s realty industry is divided over which direction real estate prices in the vicinity of the Monorail will move. Some believe that prices in close-by areas will shoot up, while others maintain that buyers will refuse to pay a premium for proximity to the Monorail.
“If the price is same at two locations and one of them is closer to the Monorail then one won’t mind buying the flat but I don’t see a sudden rise in homebuyer behaviour only because of Monorail,” said Prakkash Rohira of Karma Realtors.
The Monorail has been mired in so many controversies that there’s hardly anything to expect, said another builder, who declined to be named. However, he’s hopeful that people will slowly start realising its positive side a
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