BENGALURU: The connectivity boost that the Metro network will provide in the choked Whitefield area by linking it with the heart of the city is likely to make real estate more expensive in the area and its surroundings, an industry expert said. Prices could shoot up as much as 10 per cent in the first three months of the launch.
Chairman of CREDAI Bengaluru, Suresh Hari told TNIE, “With the Metro line coming up, there will be an enormous impact. I can see a minimum of 10% jump in prices in the first three months of the launch of the Whitefield Kadugodi-KR Pura Line,” he said. “There will be a definite uptick in real estate prices due to this,” he added.
Sachin Vora, CFO, of Assetz Property Group bills the Metro line “a game changer.” “Any infrastructure project like a Ring Road or a Metro line would transform an area completely. Commuters prefer Metro to any road project as timings are maintained accurately. In North Bengaluru for instance, was a dead area earlier.
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“The possibility of a Metro line to the airport via the place has converted it into a huge real estate market,” he said. In East Bengaluru, Vora felt the area has already cashed in on the proposed Metro. “A year earlier, it became clear that the Metro line would be operational which created momentum. I have two projects in Whitefield, and one of them has already been sold 90%. We had already hiked our prices by 10%,” Vora said.
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A senior government official said that property values skyrocket in an area after a Metro line is operational.
