Cabinet nod to Huda City Centre-Cyber City Metro Project to Boost Demand & Prices of Real Estate in Gurugram

Cabinet nod to Huda City Centre-Cyber City Metro Project to Boost Demand & Prices of Real Estate in Gurugram

The Cabinet’s recent approval of the Metro Connectivity from HUDA City Centre to Cyber City, Gurugram, with a Spur to Dwarka Expressway has sent ripples of excitement throughout the real estate market in Gurugram. The announcement has sparked a wave of anticipation as developers, investors, and homebuyers have recognized the immense potential this infrastructure development holds for the city’s overall economic growth and real estate sector.

With a distance of 28.50 km and 27 strategically located stations along the route, this elevated metro line was set to connect New Gurugram to the old city, bridging the gap and facilitating seamless travel between the two parts of Gurugram. The inclusion of key stations such as HUDA City, Cyber Park, Subhash Chowk, Hero Honda Chowk, Basai Village, Palam Vihar, and Udyog Vihar phases 4, 5, and 6 would bring convenience and enhanced mobility to residents, workers, and visitors alike.

The project, with an estimated completion cost of Rs 5,452 crore, is a testament to the government’s commitment to improving infrastructure and fostering economic development. The entire metro line would be elevated, ensuring a smooth and efficient mode of transportation for the growing population of Gurugram. The spur from Basai Village, specifically designed for connectivity to the depot, has further demonstrated the thoughtful planning and attention to detail invested in the project.

The news of this transformative development reverberated across Gurugram, generating a buzz in the real estate market. Industry experts predict that the Metro Connectivity project would lead to a significant rise in the demand and prices of real estate in Gurugram.

Commenting on this development, Ravish Kapoor, Managing Director, Elan, said, “The approved Metro Connectivity from HUDA City Centre to Cyber City, Gurugram, with a Spur to Dwarka Expressway, redefines Gurugram’s real estate market. Covering a distance of 28 km and seamlessly connecting Cyber City to various parts of Gurugram, this upcoming elevated section will enhance residents’ mobility and fuel a surge in demand for residential properties. With the nearing completion of Dwarka Expressway, the added metro connectivity further positions it as the most promising micro market in Gurugram, attracting homebuyers and investors seeking a vibrant and well-connected community.”

Real estate prices in Gurugram have started to reflect the growing anticipation and demand generated by the upcoming metro line. Property values began to climb steadily, prompting investors to seize the opportunity and secure their investments before prices escalated further. The once-underdeveloped areas along the metro route are now in the spotlight, with developers and homebuyers eyeing them as potential hotspots for future growth and appreciation.

Santosh Agarwal, Executive Director and CFO, Alpha Corp, said, “The new announcement of metro connectivity, 28.5 km long, connecting HUDA City Centre to Cyber City and Basai Village, will enhance operational functionality and minimize congestion. With 27 elevated stations, the line will bridge old and new areas, enhancing connectivity and development. The line’s connection to the Indian Railway network and plans of integration with the IGI airport further enhance convenience and connectivity which will ensure efficient transportation, and will boost the potential of areas like Dwarka Expressway which have a mix of residential and commercial set-ups, which will further see a high rate of appreciation because of the seamless connectivity of that area.”

“With the extension of the Gurugram metro system, the surrounding areas are poised for significant growth and investment opportunities. Improved connectivity and seamless integration resulting from this expansion will not only benefit commuters in Gurugram and Dwarka but also give fillip to the investment opportunity in the burgeoning areas near Dwarka Expressway and is likely to increase the region’s appeal to both homebuyers and companies alike. These developments are likely to spur infrastructure development and unlock new avenues for real estate investment, making this an exciting time for those interested in the real estate market. Spearheaded by the Haryana Mass Rapid Transit Company, this project’s implementation is expected to fuel demand, resulting in the escalation of property values and ushering in a comprehensive transformation of the urban landscape,” said Gurugram Vivek Singhal, CEO, Smartworld Developers.

This development holds tremendous potential, particularly for the real estate sector around the Dwarka Expressway and New Gurugram, as it will receive a significant infrastructure boost.

“The commencement of this metro connectivity will create numerous investment opportunities and generate employment, thereby fostering growth in the real estate sector of Gurugram. It will interconnect the various areas of the city like a beautifully-crafted garland, leading to the overall development of Gurugram, with a particular focus on New Gurugram and the surrounding locations along the Dwarka Expressway. This positive step is expected to drive progress and development in the entire Gurugram region, benefitting residents, businesses, and the economy as a whole,” said Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd.

The metro connectivity will not only transform the physical infrastructure of Gurugram but will also act as a catalyst for economic development and job creation. As connectivity improves and transportation becomes more efficient, businesses would found it increasingly attractive to establish their operations in Gurugram, further boosting the city’s overall growth and prosperity.

Source : FE

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