Bangalore, Chennai, Delhi and Jaipur are some of the famous cities in India that have been brimming rapid real estate developments over the past years. All these four metros have one reason behind this realty growth and that is they all have a metro rail system. These metro rail developments have helped these cities improve their status among the best cities in the world when it comes to transportation. All four metro rail systems are currently operating with some of the metro line stretches are under construction. According to the real estate experts, this is one of the major reasons which have boomed the real estate market of these four cities.
When compared to previous year, the metro development has made a huge impact in several cities this year. As it has enhanced the connectivity of these four cities, the demand for commercial and residential properties have increased to a great extend.
Particularly, Chennai and Jaipur have been witnessing an upward trend in the real estate market, as the metro operations have just started to function recently. Eventually, it has encouraged several real estate developers to come up with several new residential projects along the metro line stretches.
Bangalore
With the Namma Metro project in progress, there are several localities that have been witnessing a positive impact on real estate sector. Some of those areas include Mysore Road, Yeswanthpur, Magadi Road, Mahatma Gandhi Road, Baiyyappanahalli, Nagasandra and Peenya Industry. The reputed residential developers have been engaged in developing many new projects in these localities which include Aparna Elina, Brigade Panorama and much more.
Chennai
Similar to Bangalore, Chennai also seeing a real estate boom in several upcoming micro-markets of the city. The localities that have witnessed a positive impact include Meenambakkam, Ramapuram and Wimco Nagar. Meanwhile, the localities that are likely to witness growth in the future include Porur, Mogappair, Kamarajar Salai, Thiruvanmiyur, RK Salai, NH5 Road and Kilpauk.
Delhi NCR
The metro rail system has made a major impact on real estate market of the NCR (National Capital Region). With the expansion of metro to both Gurgaon and Noida, several areas along the metro line stretch have been witnessing an increased demand for properties. Some of those areas include Noida sector 15, Noida sector 16, Noida sector 18, Noida sector 32, Noida sector 38, Gurgaon sector 24, Gurgaon sector 25, Gurgaon sector 26, Gurgaon sector 29 and Gurgaon sector 43. These areas have witnessed a good capital appreciation in recent times.
With two metro projects in the pipeline, some more localities in NCR are likely to witness an upswing in realty market in the future. Some of the localities are 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.
Jaipur
The metro rail developments are in begging stage in Jaipur and one will have to see major growth across the real estate sector. The localities that have been witnessing realty growth due to metro project development include Shyam Nagar, Civil Lines, Vivek Vihar, New Aatish Market, Manasarovar, Chandpole and Sindhi Camp.
Author Bio:
Sulabha is a writer who shares her views on Indian real estate through indiaproperty.com
|