Does Metro really impact realty?

Connectivity is one of the most important factors that anyone looks for before buying a home. How far the office or hospital, schools, and colleges are from home and whether there is good connectivity to go there will be checked. How is the road connectivity? Whether there’s a metro available or not, etc., is taken into consideration before taking a step forward. It is against this backdrop that there is a demand for Metro in big cities. Also, the impact of metro rail is very high on the real estate sector, as property prices in respective cities are influenced by it. Recently, the underground metro train was started in Kolkata. Multiple metro projects in Agra, Pune, Kochi, and the Delhi-Meerut corridor have also been started. Experts say that these projects will help accelerate urbanisation and, at the same time, reduce congestion in metro cities. They also say that depending on the location, land use, and overall capacity of the micromarket, these will have an impact on the property prices in these areas.

These will contribute well to simultaneously reducing congestion in high-growth cities and increasing the potential for residential, commercial, and industrial growth in new transit corridors. It is said that due to the arrival of metro connectivity, property prices are likely to increase by more than 50 percent, depending on factors such as location, land use, and micro markets. It is said that the launch of new metro lines will have an impact on real estate markets, both within and outside the zone. “If metro connectivity comes to an area, residential and commercial developers, as well as investors, will be attracted to that area. This will increase the demand for places and properties there. This increases property values. The property owners who are already there will get a significant profit,” said Santhosh Kumar, Vice Chairman of Anarock Group.

Ravi Shankar Singh, MD, Residential Transaction Services, Colliers India, believes that metro projects will accelerate urbanisation and reduce congestion in cities. He said that because of these metro projects, people will tend to live in a convenient place away from their offices. He said that this would contribute to the expansion of cities.