Metro Connectivity treks Real Estate Prices
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Both property rates and metro connectivity goes together in the market of real estate. The scene begins right from the day of announcement of the metro project. There is a steep growth to the properties near to the locations of this metro influence. In Delhi the metro is gearing up for its third phase which will cover the regions like Vasant Vihar, Dhaula Kuan, Munirka , Kalka Ji , lajpat Nagar , Botonical Garden (Noida). Here a major hike in the prices of real estate market has already touched the starting line and it will continue till the final track of the metro construction.
No doubt the train journeys are considered as one of the safe and relax mode of transportation for Indian public. So properties located near to these stations are busy calculating their approximate price for the future turnover. Although there is tremendous increment in the property price it will be interesting to see the new price range of these areas which are located near to the metros. According to the various analyses, the price tag for property may increase around 20 to 30 percent over a time period of three years but in the case of proximity to the metro lanes it may touch up to 35 to 40 per cent hike. Looking to these circumstances a committee of Municipal Valuation under the Delhi Government is planning to upgrade the areas near to the Metro by one level that falls with in the radius of half kilometer. This very decision comes due to the maximum number of infrastructural growth in these areas from last couple of years since the announcement of the metro project.
Source: NIMMA BENGALURU
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