Delhi, Jaipur, Chennai and Bangalore are not just prominently known
cities across India but also have one other thing common. They all have a
metro rail system that has been pitched to elevate their status among
the best cities in the world when it comes to smooth transportation. All
four metro systems are currently thriving and are also in the process
of expanding their wings further.
Experts also believe that as of 2015, this is a major positive in the favour of these four cities vis-à-vis real estate. Dujendra Bhardwaj, Director, Marina Suits, says, “A huge impact has been witnessed with respect to real estate in several cities in 2015 as compared to previous years. Commercial areas have expanded due to enhanced accessibility whereas residential areas have boosted the realty sector in cities like Delhi, Bangalore, Jaipur and Chennai. A major advantage of this can be seen in jobs which results in augmented demand for houses, and makes it easy for the residents to shuttle to and fro.”
This is of significance as of 2015 because of that the fact that both Chennai and Jaipur have only recently seen the beginning of their metro operations. There is a positive sentiment across developers engrossed in work in these areas. Amit Chaudhary, Managing Director, Rhythm CCounty, explains, “India is seeing a fast-paced life in big cities as these cities show a consistently positive change after the accomplishment of metros along their metro corridors. Metro lines in these areas have contributed to solve traffic problems. However, it directly impacts real estate through rise in value of properties.”
Delhi NCR
The Delhi Metro and the Rapid Metro have majorly impacted realty in the NCR. With the metro connectivity expanding to both Noida and Gurgaon, several areas in these areas have seen a move north. Among them, Noida sector 15, Noida sector 16, Noida sector 18, Noida sector 32, Noida sector 37, Noida sector 38, Gurgaon sector 24, Gurgaon sector 25, Gurgaon sector 26, Gurgaon sector 29 and Gurgaon sector 43, have performed well on ROI charts and occupancy levels too have improved in these areas.
Meanwhile, looking at future growth in the NCR areas, Noida Sector 34, Noida Sector 52, Noida Sector 59, Noida Sector 61, Noida Sector 62, Noida Electronic City, Gurgaon sector 42, Gurgaon sector 53, Gurgaon sector 54, Gurgaon sector 55 and Gurgaon sector 56, are expected to see an upswing due to two metro projects in the pipeline – Noida-Greater Noida metro and the metro expansion from Noida Sector 71 to Greater Noida West.
Bangalore
Thanks to the Namma Metro, there are several areas that have registered a positive impact in recent years. These areas include Baiyyappanahalli, Mahatma Gandhi Road,
Mysore Road, Magadi Road, Sampige Road, Yeswanthpur, Peenya Industry area and Nagasandra. Since the metro rail system is relatively new, dating back to 2011, one will keep a close eye on multiple other areas where growth is expected in the near future. These areas include Sampige Road, Rashtreeya Vidyalaya Road and Puttenahalli.
Chennai
The relatively new Chennai Metro will be closely watched in the real estate circles of the city. The areas that have already seen a positive impact, thanks to the metro, include Wimco Nagar, Meenambakkam, Chennai Central and Ramapuram. Meanwhile, areas that are expected to see growth in the future include Mogappair, Tiruvanmiyur, Porur, Kamarajar Salai, Ring Road, Radhakrishnan Salai, Kilpauk and NH5 Road.
Jaipur
Jaipur Metro is in its nascent stage, and one will have to wait and watch to see major movement across the realty sector in the city. As of now, Mansarovar, New Aatish Market, Vivek Vihar, Shyam Nagar, Ram Nagar, Civil Lines, Railway Station area, Sindhi Camp and Chandpole, have seen realty growth. Chhoti Chaupar and Badi Chaupar are expected to be the big movers in the coming few months.
These metro projects also result in improved urban real estate values as buyers are keen to pay more for their convenience. This eventually results in improving the standard of living for a large segment of the urban population. Shivakshi Gogia, Chief Executive Officer, Ascent Group, says, “Strong infrastructure always attracts population, industry and allied development towards the region, and pushes growth of positive notes.”
The metro rail has created a big impact on overall transportation and infrastructure apart from lowering down the load on roads in these cities. Moreover, it has pushed various regions which were unusable for common people, several industries and the real estate sector at large.
The retail and commercial areas are also expected to get benefit due to the accessibility of the metro. It is also expected to restore the lost prominence of various micro markets in the concerned regions. The existing developments and infrastructure is likely to see a lot of commercial redevelopment as a result of the easy access provided by the metro. All in all, a win-win situation for Indian real estate.
Experts also believe that as of 2015, this is a major positive in the favour of these four cities vis-à-vis real estate. Dujendra Bhardwaj, Director, Marina Suits, says, “A huge impact has been witnessed with respect to real estate in several cities in 2015 as compared to previous years. Commercial areas have expanded due to enhanced accessibility whereas residential areas have boosted the realty sector in cities like Delhi, Bangalore, Jaipur and Chennai. A major advantage of this can be seen in jobs which results in augmented demand for houses, and makes it easy for the residents to shuttle to and fro.”
This is of significance as of 2015 because of that the fact that both Chennai and Jaipur have only recently seen the beginning of their metro operations. There is a positive sentiment across developers engrossed in work in these areas. Amit Chaudhary, Managing Director, Rhythm CCounty, explains, “India is seeing a fast-paced life in big cities as these cities show a consistently positive change after the accomplishment of metros along their metro corridors. Metro lines in these areas have contributed to solve traffic problems. However, it directly impacts real estate through rise in value of properties.”
Delhi NCR
The Delhi Metro and the Rapid Metro have majorly impacted realty in the NCR. With the metro connectivity expanding to both Noida and Gurgaon, several areas in these areas have seen a move north. Among them, Noida sector 15, Noida sector 16, Noida sector 18, Noida sector 32, Noida sector 37, Noida sector 38, Gurgaon sector 24, Gurgaon sector 25, Gurgaon sector 26, Gurgaon sector 29 and Gurgaon sector 43, have performed well on ROI charts and occupancy levels too have improved in these areas.
Meanwhile, looking at future growth in the NCR areas, Noida Sector 34, Noida Sector 52, Noida Sector 59, Noida Sector 61, Noida Sector 62, Noida Electronic City, Gurgaon sector 42, Gurgaon sector 53, Gurgaon sector 54, Gurgaon sector 55 and Gurgaon sector 56, are expected to see an upswing due to two metro projects in the pipeline – Noida-Greater Noida metro and the metro expansion from Noida Sector 71 to Greater Noida West.
Bangalore
Thanks to the Namma Metro, there are several areas that have registered a positive impact in recent years. These areas include Baiyyappanahalli, Mahatma Gandhi Road,
Mysore Road, Magadi Road, Sampige Road, Yeswanthpur, Peenya Industry area and Nagasandra. Since the metro rail system is relatively new, dating back to 2011, one will keep a close eye on multiple other areas where growth is expected in the near future. These areas include Sampige Road, Rashtreeya Vidyalaya Road and Puttenahalli.
Chennai
The relatively new Chennai Metro will be closely watched in the real estate circles of the city. The areas that have already seen a positive impact, thanks to the metro, include Wimco Nagar, Meenambakkam, Chennai Central and Ramapuram. Meanwhile, areas that are expected to see growth in the future include Mogappair, Tiruvanmiyur, Porur, Kamarajar Salai, Ring Road, Radhakrishnan Salai, Kilpauk and NH5 Road.
Jaipur
Jaipur Metro is in its nascent stage, and one will have to wait and watch to see major movement across the realty sector in the city. As of now, Mansarovar, New Aatish Market, Vivek Vihar, Shyam Nagar, Ram Nagar, Civil Lines, Railway Station area, Sindhi Camp and Chandpole, have seen realty growth. Chhoti Chaupar and Badi Chaupar are expected to be the big movers in the coming few months.
These metro projects also result in improved urban real estate values as buyers are keen to pay more for their convenience. This eventually results in improving the standard of living for a large segment of the urban population. Shivakshi Gogia, Chief Executive Officer, Ascent Group, says, “Strong infrastructure always attracts population, industry and allied development towards the region, and pushes growth of positive notes.”
The metro rail has created a big impact on overall transportation and infrastructure apart from lowering down the load on roads in these cities. Moreover, it has pushed various regions which were unusable for common people, several industries and the real estate sector at large.
The retail and commercial areas are also expected to get benefit due to the accessibility of the metro. It is also expected to restore the lost prominence of various micro markets in the concerned regions. The existing developments and infrastructure is likely to see a lot of commercial redevelopment as a result of the easy access provided by the metro. All in all, a win-win situation for Indian real estate.
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