The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has given the green light to the Thane Integral Ring Metro Rail Project (IRMRP), a crucial development poised to revolutionize urban mobility and real estate in Thane. The Maharashtra Metro Railway Corporation Limited (MMRCL) will spearhead this groundbreaking project, marking its first greenfield venture in the metropolitan region.
Scheduled to commence operations by 2029, the Thane Ring Metro will create a vital link between Thane's remote residential and commercial hubs — Wagle Estate, Ghodbunder, Kolshet, and Saket — and both the new and old Thane railway stations. The project will also connect with Mumbai and Kalyan through the ongoing metro lines 4 and 5. Out of the 22 stations planned, the new and old Thane railway stations will be constructed underground, ensuring seamless integration with the existing urban infrastructure.
With the capacity to carry 1,500 passengers per six-coach rake, the metro is expected to operate every 15 minutes, completing a full loop within an hour. By 2045, the daily ridership on this corridor is projected to reach 8.72 lakh passengers, underscoring the project's significance for the future of Thane's urban transportation.
The real estate industry has responded enthusiastically to this development, recognising the potential for a transformative impact on the region. Rajan Bandelkar, Vice Chairman, NAREDCO and MD, Raunak Group, expressed, "The Thane Integral Ring Metro Rail Project is a significant milestone that will undoubtedly catalyze the real estate market in Thane. The enhanced connectivity provided by this ambitious project will transform Thane into an even more attractive destination for both homebuyers and investors. As commuting times reduce and accessibility improves, we anticipate a surge in demand for residential and commercial spaces, particularly in areas around the proposed metro stations. Thane Integral Ring Metro Rail Project aligns with the vision of creating well-connected, sustainable urban centers, and will play a pivotal role in elevating Thane's status as a thriving real estate hub. We expect a positive ripple effect on property values, leading to accelerated growth and development in the region. As the metro project unfolds, it will not only uplift the real estate market but also contribute to the overall socio-economic development of Thane, further solidifying its position as a prominent residential and commercial hub in the MMR region."
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