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.
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.
To build a high-speed rail line in Saudi Arabia, Tata Steel has bagged an order to manufacture 60,000 tonne of high-quality rail. The rail line is to link the two holy cities of Mecca and Medina in the country. The new railway line is planned to carry around 1,60,000 people a day and even more during the Hajj pilgrimage season.