The ongoing extension of Mumbai’s underground Metro Line 3 Phase 2, stretching from BKC to Worli, is already driving tangible shifts in the city’s rental real estate market. According to data from Magicbricks, localities along the upcoming corridor have seen a steady rise in rental rates, especially in Mahim, Sion, Dadar, Worli, and Prabhadevi.
Top Gainers: Mahim and Sion Lead the Surge
Between April and May 2025, Mahim registered a 2.37% rise in rental prices, while Sion—near the upcoming Dharavi metro station—saw a 1.78% increase. Other localities also showed upward trends:
- Dadar: 1.47%
- Worli: 1.32%
- Prabhadevi: 1.06%
Experts link these increases directly to the improved metro connectivity, which is making these areas more accessible and attractive to renters.
Existing Line Also Sees Continued Growth
The already-operational BKC–SEEPZ stretch of Metro Line 3 is also reflecting similar patterns. From March to May 2025, rental rates rose in:
- Santacruz: From ₹138.4 psf to ₹141.4 psf (2.15%)
- BKC: From ₹128.9 psf to ₹131.2 psf (1.78%)
- Marol: From ₹70 psf to ₹71.2 psf (1.67%)
These increases demonstrate how ongoing infrastructure projects are re-shaping residential demand in Mumbai.
Developers Eye Redevelopment Opportunities
Anand Gupta, Chairperson of the Housing and RERA Committee of the Builders Association of India, confirmed that metro-driven redevelopment is taking off.
“With metros coming up, several cooperative housing societies are undergoing redevelopment. Developers are showing interest in these projects, leading to residents temporarily shifting to rental homes,” he said.
Younger Renters Drive Demand
The trend is also being driven by the younger generation, who increasingly prefer renting homes near workplaces and metro hubs rather than committing to property ownership.
Conclusion
As Mumbai’s metro network expands, localities with improved connectivity are seeing rising rental value and heightened developer interest. The Metro Line 3 extension isn’t just transforming travel—it’s reshaping how and where Mumbaikars live.
