India, Oct. 8 -- With Prime Minister Narendra Modi giving the green light to the third phase of Mumbai Metro Line 3, also known as the Aqua Line, connecting Acharya Atre Chowk in Worli to Cuffe Parade in South Mumbai, the city's poshest areas are set to regain the spotlight. Real estate experts and developers believe the Metro line could revive the prestige of Cuffe Parade and Colaba, once among the country's most expensive residential markets.

Historically, South Mumbai neighborhoods such as Malabar Hill, Colaba, Cuffe Parade, Altamount Road, and Peddar Road housed the city's costliest apartments. Over the years, however, the focus shifted to Central Mumbai, including Worli and Bandra, as high-rise developments attracted several high-ne...