Real Estate Build Rail by Rail an
Our Namma Metro Bangalore !
Environmentalists, for example, have blamed Bangalore’s worsening climate on
the large-scale felling that was done to make way for the project.
However, among the few merry are the real estate folks. These
guys think that the metro is a blessing to their businesses. How so?
Well, the
metro connects the city like never before. Once the project is over—we hope it
would not take forever- Bangalore’s travel-distance would be greatly reduced.
So,
smart fellows are actually investing in property on the periphery of the city,
close enough to upcoming Metro stations. Commuting would now cost much lesser
than it used to be. And, by missing all the clutter in long-lined traffic jams,
people would reach their destination in a matter of only a few minutes.
Bangalore’s Metro has also caused appreciation in land prices
that circumference the rail. According to our research, price appreciation on
account of the Metro is larger for commercial infrastructure than for
residential. Nevertheless, the cost of residential properties near Bangalore metro stations has seen appreciation of over 10 %
at the beginning of the Phase-II sanction.
It could further increase to 20 % on
an average. This is true for those properties that are no more than 500 meters
away from metro stations. Again, figures may vary based on several factors.
Places toward the north can see an exponential rise in property value due to
the proximity of Bangalore’s new airport.
Places toward the extreme south, like
Puttenahalli for example, can also see a similar rise in prices for many other reasons - such as being a well planned area in Bangalore, for instance, and
being well connected through the city’s recently constructed ring roads. The
Metro route map shown below can give you an idea of areas that would be
impacted by the Metro after the completion of its second phase.
The areas toward the North, like Jalahalli, Yelahanka, and
Peenya, and the less crowded, well developed areas toward the south, east, and
west parts, are likely to experience fast development. The outcome would be
better planned districts with increased space for opportunities.
When the BMRCL
had announced the completion of the M.G. Road-Bypanahalli stretch (Phase-I),
realty prices around that entire perimeter had shot up to above 20 % of its
original rate. This was the epitome of how the Metro will eventually affect
real estate prices in Bangalore.
To sum it up, we can expect land and property prices to increase
by at least 15 % by the end of phase-II. This is in respect to those places that
circumference the rail by at least 500 meters to about a kilometer.
Toward the north, see a potential for investment in and around
Hebbal. This might become a prime area for development. Toward the South,
Kanakapura road and Bannerghatta road seem to be good options.
Bypanahalli
toward the east and Mysore road (and beyond) to the west have potential for
fast growth since they diverge out of old Bangalore into better planned
“towns,” and are still positioned fairly in bounds to the city’s main populace.
Bangaloreans want to move away from crowded areas in the city.
And the metro is going to allow for people to settle down in more quieter,
less-populated areas on the outskirts of the city.
Hold on to it till the completion of Phase II, and then sell your
property for the appreciated price. Are you an investor?
Then invest on realty,
especially at intersection points of both the metro and roads leading to the
new airport. These are predictions.
However, only time will tell the whole
story of how much the Metro has affected realty in Bangalore. Believe it’s
going to be worth the wait.
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