Metro drives property boom in Bengaluru Premium

The recent introduction of the metro line to Whitefield and Yeshwantpur, and beyond, has significantly increased the market value of properties in those areas, attracting more interest from potential homebuyers. Connectivity from Mysuru Road to Whitefield via metro has improved pricing along west Bengaluru corridors. The airport metro line has led to a surge in demand for residential and commercial properties in north Bengaluru, particularly in plotted developments and Grade A office spaces.

For Rushank D., a marketing employee of a firm in Whitefield in east Bengaluru, proximity to the city’s metro rail stations was an important criterion while looking for a house to buy.

“Driving every day is a nightmare. Buses are unreliable and usually crowded during peak travel hours. The metro is the only good option as it has a fixed schedule and is dependable. I also did not want to depend on an additional platform (bike, cycle, auto or cab) for last-mile connectivity. So, living close to a metro station was my best bet,” he said. He is ready to move into his new house, which is a walking distance from Krantivira Sangolli Rayanna Railway Station metro station.

In a city that is often infamous for being traffic-choked, the expanding metro network is making commuting easy. Namma Metro is now turning out to be a significant deciding factor in the real estate space in Bengaluru. Players in the sector say with traditionally popular areas and the Central Business District (CBD) mostly saturated and with the metro reaching new corners of the city, new real estate hotspots are emerging.

Digbijay Das, Director, Valuation Services, Colliers India, said real estate development — both commercial as well as residential — is expected to be concentrated along metro lines.

“The Gottigere to Nagawara, Silk Board-K.R. Pura, and K.R. Pura to international airport lines are under various stages of construction and will be commissioned in the coming years. The concepts of ‘Walk to work’ as well as ‘Transit Oriented Development’ will become a reality. Real estate development activity is witnessing traction in the stretch from the city centre towards the international airport in the north of the city. Thereby, a new micro market is in the making. Ease of commute is expected to become a reality once all metro lines are operational,” he said.

While acknowledging that core residential pockets, such as Indiranagar and Jayanagar, have become saturated over the years, these two locations are very well-connected by road as well as metro rail, he pointed out. “Travel time has shrunk due to metro connectivity. Therefore, buyers have the option to stay close to hubs like Jayanagar and Indiranagar at locations that are 10 to 20 minutes away,” he added.

Akhil Gupta, co-founder and chief product and technology officer, NoBroker.com, said the development of the metro project not only enhances public transport infrastructure but also boosts the overall development of the area.