Metro Rail to fuel property rates?

Terioney

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posted on 13 years ago — updated on 1 second ago

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BANGALORE: While commuting in Namma Metro is still far from reality, the wait for its launch, however, is expected to boost the re..

BANGALORE: While commuting in Namma Metro is still far from reality, the wait for its launch, however, is expected to boost the realty rates by 15 to 20 per cent in the surrounding areas of Byapanahalli and M G Road.
The Reach 1 of Bangalore Metro rail starts from Byappanahalli and passes through Old Madras Road, Indiranagar ,Ulsoor, Trinity Circle and MG Road. Hence, property experts forecast this will rise property prices around CMH Road, 100 Feet Road, HAL II Stage, Jeevanbhima Nagar and Ulsoor."At present, the rates for commercial properties in the vicinity of Metro stations is `10,000 per sq ft. With the arrival of the Metro rail, the prices of properties is expected to go up by 1520 per cent," said Ganesh Vasudevan, a senior official at an online property portal.

Further, the demand for both purchase and rentals in commercial spaces in areas surrounding Byapanahalli Metro Station and depot such as Kasturinagar, Kalyan Nagar, Banaswadi and Kammanahalli will also increase, said Ganesh.

Travel time to come down

"Many customers come to us enquiring about rental spaces in close proximity to the metro station. Even before metro has started, there is a huge demand for houses in these areas, which landlords are anticipating to make use of," he added.