Bangalore: A city that is making progress in the Real Estate market every day. The recent metro development in Bangalore has largely impacted the Real Estate Market in the most positive way leading to a significant increase in prices of residential and commercial properties.
What makes any city truly a developed one?
Some of the exceptional cities in the world are known to be developed if they can competently sustain all the needs of people residing there. Incredible housing and commercial projects, renowned educational institutions, endless career opportunities, breathtaking infrastructure and impressive facilities like theme parks, malls, theaters are few of the major points considered while evaluating the performance of any city. But in the 21st century, various modes of transportation incorporated to strengthen connectivity and reduce travel time has gained utmost importance especially, in terms of real estate development of any city.
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Multiple elevated roads and flyovers, BMTC bus network, taxi services such as Ola/Uber, auto-rickshaws, carpooling by techies driving to tech parks on narrow Bangalore roads – these are some of the connectivity options in Bangalore city. But these options are not enough in this massively growing and expanding city which is going to touch 2 crore population by 2031. There is a strong need for an efficient mass transit system which is affordable and fast for Bangalore commuters. The recent development of Bangalore Namma Metro is one such step in this direction and has raised the value of this city in every aspect, real estate being one.
Let’s find out how the massive metro project has impacted Bangalore:
The second largest metro system in India is called Namma Metro, which translates to Our Metro in Kannada. The Namma Metro is the first underground metro in all of South India. This Metro is divided into three phases namely, Phase 1, Phase 2, and Phase 3. Phase 1 spans over 42 km and comprises of the Green and Purple lines. The first section of Phase 1 was completed back in 2007 and the final section was inaugurated by the President of India in 2017. Phase 2 spanning over 72 km will include Yellow, Red and Blue lines. Phase 2 and 3 are expected to be completed by 2022 and 2030 respectively.
The Namma Metro is doing a phenomenal job at not just economically connecting nearby areas but also North Bangalore to South Bangalore and East Bangalore to West Bangalore.
Here’s a chart that aptly represents the pre and post impact of Namma Metro on the Real Estate Market of Bangalore.
However, Phase 1 has only been successful in connecting central and off-central areas of Bangalore. Hence the anticipation for the commencement of Phase 2 is steadily increasing as it promises to connect Bangaloreans to key economic hubs like Electronic City, Whitefield and Outer Ring Road.
Here’s a table that displays the different metro lines that are and will continue to connect all of Bangalore efficiently and effortlessly.
|Green Line||Purple Line||Yellow Line||Red Line||Blue Line|
|Nagasandra||Mysore Road||Ragigudda Temple||Nagawara||KR Puram Interchange|
|Dasarahalli||Deepanjali Nagar||Jayadeva Hospital Interchange||Arabic College||Mahadevapura- ORR|
|Jalahalli||Attiguppe||BTM Layout||Venkateshpura||DRDO Sports Complex|
|Peenya Industry||Vijayanagar||Silk Board Interchange||Tannery Town||Doddanekundi|
|Peenya||Hosahalli||HSR Layout||Pottery Town||ISRO|
|Yeshwanthpur Industry||Magadi Road||Oxford College||Cantonment Railway Station||Marathahalli|
|Yeshwanthpur||City Railway station||Muneshwara Nagar||Shivajinagar||Kadubeesanahalli|
|Sandal Soap Factory||Kempegowda Interchange||Chikkabegur||MG Road Interchange||Devarabeesanahalli|
|Mahalaxmi||Sir M. Visvesvaraya||Basapura Road||Vellara Junction||Bellandur|
|Rajajinagar||Vidhana Soudha||Hosa Road||Langford Town||Iblur|
|Srirampura||Cubbon Park||Electronics City Phase 1||MICO Bosch||Agara Lake|
|Sampige Road||MG Road||Electronics City Phase 2||Dairy Circle||HSR Layout/Venkatapura|
|Kempegowda Interchange||Trinity||Huskur Road||Swagath Road Cross||Silk Board Interchange|
|Chickpete||Halasuru||Hebbagodi||Jayadeva Hospital Interchange|
|Krishna Rajendra Market||Indiranagar||Bommasandra||JP Nagar 4th Block|
|National College||Swami Vivekananda Road||IIMB|
|South End Circle||Gottigere|
|Rashtriya Vidyalaya Road|
Why is the Namma Metro beneficial for the people of Bangalore?
1. Improved Connectivity
The Namma Metro’s impact can largely be measured by its extensive network of connectivity. It is now easy and convenient to reach all the parts of the city which were previously inaccessible. Many areas connected to the metro like Byappanahalli and CMH Road are experiencing a massive change in their real estate position. The upcoming project stretches along the borders of the city, making those regions more travel-friendly.
2. Reduced Travel Time
One of the main difficulties a city faces is to make their people commute from one region to another quickly and smoothly. For Bangalore, the Namma Metro is doing a great job of allowing travelers to reach wherever they want on time. Faster than any mode of communication, Phase 1 of Namma Metro lets you travel from East to West Bangalore in just 53 minutes and North to South Bangalore in only 45 minutes. Seems like Bangaloreans will no more have the problem of wasting crucial time in commuting.
3. Lower Pollution
Every day newer and better types of cars, bikes, buses, etc are being manufactured to let individuals keep up with this fast moving world. These modes of transport may help people be on time but cause irreparable damage to the environment. But, that’s not the case with Namma Metro. It is the most preferred transportation option as it has zero fuel emission which reduces the toxins in the air.
4. Lesser Traffic Woes
Owing to the city’s numerous working citizens, traffic woes have always been a concern. However with the Namma Metro in action, a major shift in the commutation will free the roads of prolonged traffic congestion.
5. Increased career opportunities
Now distance will never be an obstacle while opting to work in multinational companies in Bangalore. Prominent and famous tech parks like ITPL, Manyata Tech Park, Ecospace Business Park, Global Village Tech Park will be well connected to you no matter where you reside. Distance will just be a number and not a career decider.
Downsides of Namma Metro
1.Prolonged Metro Work:
As they say, every good thing takes its own sweet time to come. And same is the case with Namma Metro. Though promising great returns, Phase 1 of Namma Metro was delayed for many years. Roads are dug up in every nook and corner causing immense pollution. This setback has caused traffic jams and traveling difficulties.
2. Killing the beauty of Bangalore:
Initially, the metro was envisioned as opening up the clogged roads and reducing traffic hassles. But the giant pillars supporting the metro have in turn congested the already clogged roads and have destroyed the aesthetic appeal of Bangalore.
What is the impact of Namma Metro on Bangalore Real Estate?
The implementation of metro in Bangalore will lead to a huge impact on development areas of North, South, East and West. The effect on commercial projects will be much more than residential projects. As per a study from Centre of Environmental Planning and Technology, metro construction leads to 19% increase in land value for commercial properties and 11% for residential properties that are within 500 meters of the metro line.
Here’s an overview of the impact of metro in different regions of Bangalore
Impact on East Bangalore:
With the purple line extending from Whitefield to Kengeri, traffic snarls in the east are expected to scale down. In light of commuting to well-established areas of East Bangalore – Whitefield, Hostoke, ITPL, Marathahalli and Kadugodi have witnessed a rise in demand for commercial developments as well as residential projects. The impact of Namma Metro on the real estate industry is so much that even areas like Narasipura are predicted to emerge as an automobile hub. Keeping this growing demand and increased valuation in mind, almost all top builders have acquired land in these prime locations that are showing a price appreciation of 20-25 percent. Presently plagued with traffic congested due to the ongoing metro construction, the scenery of this region will only promise great returns in the future.
Impact on West Bangalore:
West Bangalore is one such region of Bangalore where the Namma Metro has proved to be a success. This section of Bangalore is a splendid example of how the establishment of Metro lines transformed a quiet, sleepy area into a fully bustling real estate hub. Previously known as an industrial area, West Bangalore today homes some of the finest residential and commercial projects. All credit to the improved connectivity of this location with other prime locations due to the metro.
The three main corridors here are Tumkur Road, Mysore Road, and Magadi Road.
- Primarily, Tumkur Road was categorised as Bangalore’s poor cousin but its outstanding connectivity to South Bangalore through the NICE corridor has changed that forever. Luxurious residential apartments, excellent infrastructure and well equipped office areas is all that you will find in Tumkur Road.
- As for Mysore road, this part is currently witnessing a decent real estate market. The development of metro has gained the plotted areas immense value and great returns. Brigade Panorama by Brigade Group, Rays of Dawn by Provident Housing are some of the admirable ongoing projects along Mysore Road.
- Stretching through the heart of West Bangalore, Magadi Road is said to be one of the earliest flourished real estate market in the entire city. Improved connectivity of Metro guided this locality to open educational institutions, hospitals, banks and supermarkets.
Impact on North Bangalore:
Residential apartments in the North Bangalore gained a huge prominence after the construction of the Kempegowda International Airport. The on going construction of the Namma Metro in this area will further boost the real estate segment. With the metro covering significant locations like the International Airport and areas like Yelahanka-Kogilu, Jakkur, Nagawara and garnered massive popularity. Luxurious residential projects and villas in Hebbal and HBR Layout are attracting phenomenal attention of investors due to the flawless connectivity derived by the metro. The metro has led to increase in construction activity in Kodathi on Sarjapur road- an area known for its residential societies due to the presence of reputed IT Parks. Hennur Road is proving to be extremely beneficial because of its close proximity to the metro line and central area of Bangalore city. Property rates and rental rates are seeing an almost 15% hike here.
Impact on South Bangalore:
This region is home to many of the city’s exceptional IT Parks like Global Village Tech Park and RMZ Ecospace Business Park. Its popularity amongst the working population of the city has only soared with the metro development. Properties in Electronic City, Koramangala, BTM Layout, Bannerghatta, Kumaraswamy Layout, Arekere, Bommanahalli are seen as hot investment opportunities, where the prices have hiked over 50 per cent. Kodathi on Sarjapur road – an area known for its residential societies has witnessed an increase in construction activity due to the development of metro route here. The introduction of the metro line in Kanakapura road has opened up new avenues for real estate in this locality. Improved connectivity to major highways such as Mysore Road, Tumkur Road, Hosur Road, and Old Madras Road has added to its real estate profile.
The future of the silicon city is predicted to be extremely bright for real estate builders and investors due to the well-conceptualized design of the Namma Metro. Commercial and residential areas in the nearby vicinity of the metro lines have already witnessed a spectacular boom in their property rates. And this will only escalate after the completion of Phase 2 and 3 of Namma Metro. Overall, this is an opportune time to invest in 1 BHK, 2 BHK, 3 BHK apartments in close proximity to the metro stations as the prices only seem to rise in the near future. The connectivity promised by the Namma Metro will truly be a game changer for the real estate market of Bangalore.
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