The first monorail project of India, which was constructed in Mumbai, has carriages running on a single rail and adds to the already existing heavy demand for real estate and property in Mumbai. Mumbai, known as the Commercial Capital of India has enjoyed this status a result of the ever-increasing commercial property in Mumbai development. It now has the world’s second largest monorail after the Main Line Monorail of Japan. It must be known that the Mumbai Metropolitan Region Development Authority oversees this project and it was tested with a 108m run that was conducted during January of 2010. A consortium between Larsen and Toubro as also Scomi Engineering has been handpicked for this process. This Monorail will have the capacity to carry up to 200,000 passengers every day when it becomes fully operational this year.
There are various advantages of the development of Monorail which will be serving a lot of purpose in relieving Mumbai of some of its crucial problems. These benefits have been discussed at length below.
Safe as well as Reliable
Monorails run on elevated tracks that reduce the danger of cars being stuck on the crossings, also reducing any element of the danger posed to the pedestrians. Carriage derailing is relatively unheard of phenomenon in case of Monorails, making them a safe method of travel. Such measures of safety allow less number of accidents as well as delays on the road which serves to make the system of transportation much efficient than the existing systems of ground rails and buses.
For those owning property in Navi Mumbai or property in south Mumbai, the Mumbai Monorail is particularly advantageous for it can save you a lot of time, which you otherwise have to waste in sitting stuck in traffic. It is also beneficial in areas where roads cannot be broadened because of the existing structure by both sides. Such a thing will not only benefit other people who own property in Mumbai for they will not have to be relocated but also the government because land acquisition costs will decline drastically.
The more Eco-friendly Solution
Above all things, in the face of increasing degrees of pollution and environmental damage, the monorail comes as a beacon of hope. This is to say that it is a much eco-friendly alternative to cars and contributes to lessening air pollution because it does not make use of carbon-based fuels. Such fuel is used in cars as also buses whereas monorails are powered by electricity which in turn, is derived from gas or less polluting elements such as coal-fired power stations. Even though they pollute the air to some extent, the problem is likely to be reduced to a greater degree with the discovery of alternative sources of energy.
Less Noise Pollution
For those owning property in Mumbai, most of all the ones living in the residential projects in Mumbai, it comes as no surprise that listening to blaring horns from all directions is a part of your everyday life. This is especially problematic for those with cardiovascular diseases, babies and pets. If more and more people start taking the monorail as a result of the various benefits it is producing, most of all the speed, sans traffic, there is a genuine chance of reducing the number of frustrated drivers that honk away to get ahead.
Reduces Traffic Congestion
One of the primary reasons why people are often dubious about investing in a property site in Mumbai or in real estate is because of the worsening traffic situation in Mumbai that has no signs of getting better in recent future. However, when the Monorail becomes operational, chances of traffic congestion reducing is high for people may abandon their cars and take this transport to avoid traffic and get to their destination faster.
Low Maintenance Costs
The Mumbai Monorail will also require lesser maintenance charges as there are fewer accidents and less degree of friction going on in the rail tracks. This means a much lesser cost of maintenance incurred by the system in repairs and damage control.
Development of Real Estate along a Monorail
Because of providing ease and greater speed in commute, many will become sworn loyalists of the monorail. This will give rise to greater demand in development of not only commercial property in Mumbai but also residential projects in Mumbai, for the simple reason those offices would like to be close to the hubbub of the city and people would prefer settling closer to their offices.