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IMPACT OF NAMMA METRO ON BANGALORE'S REAL ESTATE MARKET
In many parts of Bangalore, the Namma Metro, the city's metro system, has been a major success. This Bangalore metropolitan area is an excellent illustration of how the development of metro lines changed urban infrastructure amenities and its inhabitants' need for transportation.
The Namma Metro is one of India's second-largest metro systems. Phase 1 of the Bangalore metro was finished in June 2017, which was a noteworthy accomplishment. When the Majestic interchange between the East-West and North-South lines was finished, the amount of time required to travel along these lines was reduced by half when compared to other forms of transportation. During peak hours, it is anticipated that the frequency of one train every five minutes will increase ridership. However, Phase 1 has only been beneficial in specific areas of the city. Bangaloreans are eagerly awaiting the completion of the next phases because they will be connected to important economic hubs like Electronic City, Whitefield, and the Outer Ring Road.
Impact in Bangalore Real Estate
Urban growth has increased many areas' value and yield of planned lands dramatically. The enhanced Metro link delayed the opening of schools, hospitals, banks, and supermarkets in this neighborhood. The Namma Metro has been successful in a number of Bangalore neighborhoods, especially West Bangalore. Due to recent metro connectivity, West Bangalore, once thought of as an industrial area, is now home to some of the best commercial and residential complexes. On Tumkur Road, there are magnificent apartment buildings, first-rate infrastructure, and furnished offices. Today's Mysore Road real estate market is reputable. The value and yield of the plotted lands have significantly grown as a result of metro development.
Given that East Bangalore is now more popular, nearby residential and commercial developments including Whitefield, Hostoke, ITPL, Marathahalli, and Kadugodi are in high demand. Nearly every significant homebuilder has bought land in these locations. Despite the current traffic snarls brought on by the ongoing subway construction, this area's nature only offers fantastic rewards. The proposed metro lines will link all significant neighborhoods in north Bangalore, such as Yelahanka-Kogilu, Jakkur, and Nagawara, among others, to the airport. Hennur Road has proven to be incredibly desirable due to its proximity to Bangalore's core business sector and metro line. Recently, Hebbal and HBR Layout hosted some of the luxurious residential projects.
Many of Bangalore's leading IT parks, including RMZ Ecospace Business Park and Global Village Tech Park, are located towards the south of the city. Since it was built, the metro has become more and more popular among the city's working population. Property is seen as a desirable investment opportunity in regions like Electronic City, Koramangala, BTM Layout, Bannerghatta, Kumaraswamy Layout, Arekere, and Bommanahalli where prices have climbed by more than 50%. The metro route's construction has increased activity at Kodathi on Sarjapur Road, an area renowned for its residential neighborhoods. The real estate market in this neighborhood has grown as a result of the opening of the Kanakapura Road metro line. better accessibility to main highways.
The increasing demand for homes close to metro stations has eventually been one of the biggest effects of namma metro on the real estate sector. Many individuals enjoy using the metro since it has made travelling quicker and more convenient. Due to this, there is an increase in demand for flats, villas, and parcels of land that are close to metro stations. Best Builders in Bangalore are utilizing this pattern by concentrating their construction efforts on recently constructed as well as upcoming metro stations. Property close to metro station and apartments close to metro stations are now more expensive than they were in the same micro market a few years ago. To maximize the return and take best advantage form the namma metro , real estate experts are also strategizing with their best real estate portfolio management solutions ideas to increase the investment return
Within close proximity to metro stations, both new launched homes and apartments for rent; and ready to move units close to metro stations into are in high demand. The Bangalore Metro is expected to continue to have an effect on real estate demand and pricing in the future. As the Metro expands to new areas and lines, more opportunities for real estate development and investment will present themselves. The Metro is predicted to have a significant impact on housing demand in the following years.