Japan confirms provision of financial, technical and operational support for India´s mission to build bullet trains in the country. The first bullet train, which will run at a maximum speed of 300 km per hour, is expected to run between Ahmedabad and Mumbai and will cost around Rs 60,000-70,000 crore.
A signed MoU between India and China for Railways will expand cooperation in the building of a the $36 bn bullet train project between Delhi and Chennai, development of two model railway stations, establishment of Railway University and training of Indian railway men by their counter parts in China.
Construction work on the Mumbai-Ahmedabad high-speed railway corridor is likely to begin next year. Even while the Indian Railways is planning to begin construction work in 2017, some contentious issues involving land acquisition remain.
The real estate all over India being in a nose-diving mode, the proposal to develop a high-speed railway corridor between Mumbai and Ahmedabad comes as a boon to people living in the outskirts. This will give a fillip to the sluggish real estate prices on the outskirts of the city, with property prices expected to rise.