The new Metro line will undoubtedly facilitate faster connectivity and easy accessibility to peripheral locations. Completion of the 2.50 km stretch from Peenya Industry to Nagasandra on Reach 3B by August will further extend connectivity to far-flung areas in the west, opening them up for development in Bangalore West
Real estate activity
With the initiation of the Metro work construction, the region has already witnessed significant real estate activity with projects of major developers coming up in the region.
According to research of Vestian Global Workplace Services, this region currently supports a capital value for Grade A apartments in the range of Rs 2,800-5,000 per sqft.
The Green Line consists of 24 stations from Hesaraghatta Cross to Puttenahalli Terminal. Although, currently 10 stations are operational on this line, it cuts through the heart of the city connecting the peripheral suburbs of the northern extreme to the southern limits of the city. The biggest advantage with the Metro network becoming operational is reduction in the travel time as well as cost of commuting.
Peripheral locations beyond – Bangalore West – Peenya, which till date relied only on road transport to commute to the Central Business District (CBD). It will now have another convenient, cost-effective, time-saving option. As a result, this corridor is expected to witness enhanced real estate activity.
Shrinivas Rao explains, “Since the Bangalore-Mumbai Industrial Corridor also extends from this region of India’s IT capital, more mid-segment and budget housing projects. They are sure to flourish in this micro-market.