The Union Cabinet approved Phase-II of Bangalore Metro, which was launched as Namma Metro project. The project is designed with 72 km of Metro network that would cost about Rs.26, 400 crore. In which Central government will offer at least Rs.6, 000 crore, while most of the investment will come from the state government to the agency handling this project.
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The Phase-II of Bangalore Metro line will have six lines, 61 stations 12 of which will be underground. One of the main passages is the trunk line about 14 km underground stretch between Gottigere and Nagavara. The second line will be between RV Road to Bommasandra.
Karnataka Chief Minister Siddaramaiah and Union Railway Minister Mallikarjun Kharge launched Bangalore’s second metro stretch that connects the city’s North Western Suburbs in Peenya to Sampige Road. Additionally, 2.5 km stretch from Peenya to Nagasandra and 4 km of underground channel work that connects Sampige Road and National College will be completed by September to October of this year.
The launch of Phase II of Bangalore Metro will have significant influence in the growth of Bangalore real estate and an increased demand could be witnessed in the Metro corridors, says one of the real estate experts who have an upcoming project near the Peenya Metro Station.
The metro will reduce the connectivity issues and will give a facelift to the locality that will increase the demand for properties for sale and helps in price appreciation.
A large number of residential projects, commercial projects, retail malls, schools, hospitals, and other social infrastructures are coming up in the Metro corridor that is likely to change the entire real estate setup. Most of the professionals working the Central Business District (CBD) areas are buying homes that are located close to the Metro Line as it will reduce the commuting time. With the government taking an initiative to increase the Floor Area Ratio (FAR) in the surrounding of Metro stations up to 4 from 3.2 will surely boost the development in commercial segment as well, says the president of CREDAI, Bangalore.
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With the metro in Bangalore, the traffic will be reduced. After metro Bangalore became one of the best prime city in India.
ReplyDeleteHi amarnath, Garden city is becoming the metropolitan city with the services of Metro rail. Traffic problems in Bangalore may reduce tremendously with this namma metro.
DeleteAnother mile stone of Bangalore's Growth. It covers almost all the areas of the Bangalore.
ReplyDeleteBut in the other side, BMTC had cut so many trees in building this Metro, which is not at all good in our future. With the Metro Bangalore is becoming the fastest growing city in India.
ReplyDeleteMetro is going through all the IT parks and residential areas. It is connecting all the schools, Malls and prime locations. With the Metro rails We can reach the any area of the Bangalore with in 10 mins.
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