Gurugram Metro will boost realty in new sectors, say developers

Gurugram Metro will boost realty in new sectors, say developers

Developers in the city on Wednesday said the approval to the Gurugram Metro project will help in transforming the city and create more investment and business opportunities. Developers said with Rapid Rail Transport System (RRTS) in the pipeline and Dwarka Expressway almost nearing completion, the move to start constructing a Metro line will give rise to positive sentiments among both buyers and investers.

Vinod Behl, a city based real estate expert, said the recent decision to bring Delhi-Gurgaon-Alwar RRTS under National Infrastructure Pipeline (NIP) to speed up the project, coupled with Wednesday’s Union approval to the Metro project, will significantly boost inter- and intracity connectivity.

“The Metro extension will provide connectivity to Gurugram railway station, the proposed interstate bus terminal and in future with the Blue Line of Delhi Metro from Dwarka. This will significantly enhance the city’s mobility quotient and in turn boost investments in Gurugram,” he said.

Realty experts also said the high potential corridor of Dwarka Expressway, which has already emerged as investors’ favourite , offering attractive returns, will particularly be benefited

Pradeep Agarwal, founder and chairman, Signature Global, a developer, said the Metro approval will boost realty around Dwarka Expressway and new sectors. “Commuting will become easier and it will generate more investments and job opportunities. It will benefit the entire region,” he said.

The developers also said Metro and RRTS will end the congestion and traffic woes of the city and south Haryana, and many companies and corporates, which were expanding only in Noida and Greater Noida will rethink their strategy.

Pawan Kumar, a real estate consultant based in Sector 22, said due to the poor state of transport infrastructure in the city, many companies preferred to expand or open new offices in Noida or Greater Noida. “This Metro project will connect the commercial and residential micro markets in a great way and the government should try to complete the Metro in two to three years,” he said.

Santosh Agarwal, executive director and chief financial officer, Alpha Corp, said, “This Metro line will enhance operational functionality and minimise congestion. With 27 elevated stations, the line will bridge old and new areas. The line will connect to the railway station and plans of integrating it with the India Gandhi International Airport will further boost the potential of areas along the Dwarka Expressway,” he said.

Ravish Kapoor, managing director, Elan, said metro will bring cohesion to Gurugram as a city. It will not only ensure physical connect but also add social connectivity. “The key micro markets will get a major boost as they get connected to larger National Capital Region,” he said.

Real estate players also said prices of properties and rentals along the Metro route and near Metro stations will rise significantly as it happened in Delhi.

“The Metro extension can potentially lead to a rise in property values. Improved connectivity and accessibility often attract investors and homebuyers, leading to an increase in demand for properties,” said Ashwani Kumar, managing director, Pyramid Infratech.

The players in commercial real estate market and those developing office spaces said ease of commute will bring more customers to Gurugram.

“Currently, Fortune 500 companies are established in some particular locations the city but with the Metro coming, it will boost commercial space creation along the Metro alignment and more commercial establishments will expand across Gurugram,” said Pradeep Mishra, a real estate consultant and founder Homents Pvt Ltd.

The developers said the Metro line will resolve traffic congestion to a great extent.

Navderp Sardana, chairman and managing director, Whiteland, said, “By expanding the Metro network, the government is addressing the pressing issue of traffic congestion, which has been a persistent challenge in the city.This will positively impact real estate market by influencing property prices, investment opportunities, and the overall demand for real estate in Gurugram.”

Source : HT

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