What Are the Benefits of Metro Rail in Mumbai, India?

Palak Suri and Maureen Cropper

No 34650, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We estimate the effects of the first metro rail line in Mumbai using administrative data on assessed property prices from 2011-18 for 723 subzones in the city. Comparing areas within 1 km of the metro with those beyond 1 km but within 3 km, we estimate the effects on property values for commercial, industrial, and residential properties. We find a significant and persistent increase in prices of 6-8% for residential and commercial land use categories in treated areas relative to control areas after Metro Line 1 opens. We show that commute time savings and improvements in employment accessibility are plausible mechanisms underlying these effects.

JEL-codes: O18 R1 R3 R4 (search for similar items in EconPapers)
Date: 2026-01
Note: EEE
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