Metro rail has become the need of cities today as the vehicular congestion is the biggest problem in daily life. In fact, the introduction of metro rail projects in metro cities has transformed the property market. Following the same, multiple metro rail projects are in pipeline and this blog post informs you about the proposed metro rail projects that will change the face of Indian real estate sector.
1. Navi Mumbai Metro
CIDC i.e. the City and Industrial Development Corporation tabled the proposal to develop a rapid transit system that will comprise of four corridors in the Navi Mumbai area. Belapur-Taloja MIDC, Mankhurd-NMIA-Panvel highway and Dighe-Turbhe-Belapur are the three corridors. The fourth corridor will connect to the plush localities such as Ghansoli, Vashi and Mhape.
The Development Corporation estimates completion of this project by 2020.
The real estate experts feel that the property prices in Kharghar and CBD Belapur will witness an increase in the property prices as soon as this locality gets metro connectivity. Apart from these areas the neighbouring Ulwe region will also experience a hike in the price of properties.
2. Pune Metro
Pune has its own aura and this is because the city is the cultural capital of Maharashtra. However, the metro rail project here is surely going to enhance the overall living experience. This is because the three metro lines will connect residential and commercial localities smoothly. Line 1 is planned to run between Pimpri Chinchwad to Swargate, Line 2 will ply between Vanaz-Ramwadi and Line 3 will start from Hinjewadi to Shivajinagar via Balewadi.
The real estate experts say that the premium localities like Pune Gymkhana and Dadar West will experience an increase in property prices while the Hinjewadi and Shivaji Nagar will also witness a hike in the property prices.
3. Surat Metro
The Surat Metro Rail Corporation planned to have two corridors at Surat metro rail project. The first corridor will link Sarthana to Dream City and there will be 20 stations on the route. The second corridor will connect Bhesan to Saroli.
The first corridor will have stations at Sarthana, Nature Park, Kapodra, Labheshwar chowk area, Central Warehouse, Surat Railway station, Maskati hospital, Gandhi Baug, Majura Gate, Roopali Canal and Dream City. Similarly, the second corridor will have metro stations at Bhesan, Ugat Vaarigruh, Palanpur road, LP Savani School, Adajan Gam, Aquarium, Majuragate, Kamela Darwaza, Magob and Saroli.
Here also the real estate experts feel that the areas like Palanpur Gam will offer huge plots to build 3 and 4 BHk apartments in the coming time and this will raise the property cost in the city. Apart from this, area close to the Surat railway station will witness development in both commercial as well as residential sector in the future.
4. Lucknow Metro
The city of nawabs has created history as the Lucknow metro is metro rail route project is the fastest to be completed in India. The red line on this route connects Transport Nagar to Charbagh Railway Station and goes further to CCS International Airport and Munshipulia. This is the first metro line as the second route i.e. the Blue line is planned to run between Charbagh Railway Station and Vasant Kunj is expected to be completed by 2022. The Lucknow metro project is also going to increase job opportunities as commercial spaces are allocated for cafeterias, shops and more.
The real estate experts assess an increase in property prices with more than 2,000 acres land can be used to develop residential projects close to Hazratganj and Mahanagar.
5. Kanpur Metro
The Kanpur metro rail project is planned to have a stretch of 35 kms and will ply through IIT, Rawatpur, Bada Chauraha, Motimahal, Kanpur Central, ISBT Jhakarkatti and Naubasta. The city is a major hub for both industrial and commercial activities in the state of Uttar Pradesh and thus infrastructural development will transform the Kanpur city completely.
The developers here would prefer to build resort-style plots and independent homes as the Lucknow-Kanpur highway will run parallel to the metro route. The industry experts forecast an upward movement in property prices by 30-50 percent in areas like Barra and Swaroop Nagar.
6. Agra Metro
After being popular internationally for Taj Mahal, the Agra city now has another reason to shine and that is Agra metro rail. This project is planned to have two corridors with 13 and 14 stations respectively. The metro on the first route will run Sikandara to Taj East Gate and the second route will ply between Agra Cantt to Kalindi Vihar.
The industry experts feel that the outskirt areas like Sikandara and Kalindi Vihar will develop both residentially and commercially. Apart from this, the upmarket areas like Bhagwan Talkies and NG Road will also witness development.
The Agra metro rail project is estimated to be completed by 2024.
7. Indore Metro
The Indore metro rail project is planned in a phased manner and the first lap of this project is planned to be completed by early 2023. The metro route in this phase will connect Palasia, Railway Station, Rajwara, Bada Ganpati, Airport, Bhawarsala, MR10, Vijay Nagar, Radisson and Bangali Chouraha.
The second line will connect Annapurna to Sukhliya, Super Corridor MR 10 to Ring Road and Niranjanpur to Bhawarkuwa.
The real estate development close to the International airport and Pithampur will boost development in all spheres as several educational institutes are also planned to be developed here.
Till now, 500 kms of metro rail routes are operational in major cities like Delhi, Mumbai, Bengaluru, Chennai and Kolkata. The metro rail projects will not only decongest vehicular traffic but they will also open job opportunities. The introduction of metro rail projects are good as carbon emission will also come down drastically as people will prefer this mode of transport to avoid traffic congestion.