The metro has proven to be one of the city's most valuable resources in Bangalore Real Estate. The real estate industry has gradually impacted the micro-markets in Bangalore where the metro track runs. Property values in metro-connected areas have risen significantly. Real estate prices in Bangalore have risen by 20% since last year, and many infrastructure improvements have been implemented. The metro project will cause significant changes in Bangalore's north, east, and south. Bangalore's recent metro expansion has had a significant positive impact on the real estate market, with prices for both residential and commercial properties rising significantly. .
Bangalore metro phase 1 was completed in June 2017 as part of the city's expanding infrastructure, and it was an incredible accomplishment. Travel time along the East-West and North-South lines was cut in half when the Majestic interchange between these lines was completed, compared to other modes of transportation. Ridership is expected to increase during peak hours with one train every five minutes.
Namma Metro is one of India's second-largest metro systems. Namma Metro in South India is the region's first subterranean metro. This Metro's three phases are Phase 1, Phase 2, and Phase 3. Phase 1 is 42 kilometres long and is made up of the Green and Purple lines. Phase 2 covers 72 kilometres and includes yellow, red, and blue lines. Phases 2 and 3 should be completed in 2022 and 2030, respectively.
The Namma Metro does an excellent job of economically connecting not only neighbouring districts, but also East and West Bangalore and North and South Bangalore.
However, Phase 1 only benefited the central and outskirts of Bangalore. The arrival of Phase 2 is highly anticipated because it will connect Bangaloreans to important economic areas such as Electronic City, Whitefield, and the Outer Ring Road.
The Namma Metro has been a huge success in many areas of Bangalore, including West Bangalore. This Bangalore neighbourhood is a great example of how the construction of Metro lines transformed a sleepy, uninhabited area into a humming real estate centre. West Bangalore, once considered an industrial area, is now home to some of the best commercial and residential developments. All hail the metro for improving connectivity between this location and other desirable destinations. Tumkur Road is home to opulent residential complexes, first-rate infrastructure, and well-equipped office spaces. Mysore Road now has a respectable real estate market.
Because of metro development, the value and yield of plotted lands has greatly increased. Magadi Road, which runs through the heart of West Bangalore, is thought to have been one of the city's first real estate development areas. The improved Metro link influenced the opening of schools, hospitals, banks, and supermarkets in this area.
Commuting to well-established neighbourhoods in East Bangalore has increased demand for residential and commercial constructions in Whitefield, Hostoke, ITPL, Marathahalli, and Kadugodi. Almost all of the major homebuilders have purchased land in these sought-after areas, where prices are increasing by 20-25 percent due to rising demand and valuation. Despite the current traffic congestion caused by the ongoing subway construction, the landscape of this area will only provide tremendous returns.
The metro area, which includes important facilities such as the International Airport and neighbourhoods such as Yelahanka-Kogilu, Jakkur, and Nagawara, has grown in popularity. Because of the metro's faultless connection, luxurious residential developments and villas in Hebbal and HBR Layout are capturing investors' attention like crazy. Kodathi on Sarjapur Road has seen an increase in construction activity as a result of the presence of reputable IT Parks. This area is well-known for its residential societies. Hennur Road has proven to be extremely valuable due to its proximity to Bangalore's core business district and metro line. Rent and property values in this area have risen by about 15%.
South Bangalore is home to many of the city's top IT parks, including RMZ Ecospace Business Park and Global Village Tech Park. The metro's appeal to the city's working population has only grown since its construction. Properties are viewed as appealing investment prospects in areas where prices have increased by more than 50%, such as Electronic City, Koramangala, BTM Layout, Bannerghatta, Kumaraswamy Layout, Arekere, and Bommanahalli. The construction of the metro route has increased activity at Kodathi on Sarjapur Road, a region known for its residential communities. The opening of the Kanakapura Road metro line has expanded the real estate market in this area. improved access to major highways.
The thoughtful design of the Namma Metro bodes well for the future of Silicon Valley's real estate developers and entrepreneurs. Property values in nearby commercial and residential neighbourhoods of metro lines have already risen dramatically. And once Phases 2 and 3 of the Namma Metro are completed, this will only increase in popularity. Overall, it appears that now is a good time to buy residential flats near metro stations because prices appear to be rising. Because of the connection that the Namma Metro promises, Bangalore's real estate market will see a significant game changer.