December 6, 2023 |
Gurugram’s real estate to get a boost with the advent of Metro project
Gurugram’s property values are expected to surge with the metro route covering pivotal sectors and business districts.
Gurugram, the bustling satellite city of Delhi, is gearing up for a transformative boost in its real estate sector with the impending metro rail project. Similar to the successful models of DMRC and NMRC in Delhi and Noida, Gurugram is set to establish its dedicated entity, GMRC (Gurgaon Metro Rail Corporation), which is exclusively focused on the city’s metro projects.
Sources from the Haryana government reveal that the Central government will provide vital financial support for the proposed metro expansion in Gurugram. To ensure equity in the project and efficient management of funds, creating GMRC as a separate entity became imperative, necessitating the formation of GMRC.
“The establishment of GMRC and the impending metro project in Gurgaon signal a real estate revolution. Property values are expected to surge with the metro route covering pivotal sectors and business districts. Investors looking for growth opportunities should closely monitor developments along this route, as the metro promises to be a catalyst for appreciation,” says property consultant.
property consultant says, “We see immense potential in Gurgaon’s metro project. The exclusive focus of GMRC on Gurgaon’s metro development is set to transform the cityscape. Buyers and investors can anticipate attractive returns as property values are poised to rise along the metro route, especially in key sectors and business hubs.”
The eagerly-anticipated metro project, approved by the Union Cabinet in June, outlines a crucial link from HUDA City Centre to Cyber City, covering an expansive 28 kilometres and passing through 27 strategically-located stations. The estimated cost of this ambitious venture is around Rs 5,452 crore. The anticipated completion date is four years from the project’s sanction. It promises seamless connectivity between old and new Gurugram.
“The proposed metro corridor will pass through Palam Vihar and enhance the area’s connectivity, which will benefit commercial projects like Global Foyer Mall near the metro line. It is poised to be a game-changer for Gurgaon’s real estate landscape. As development progresses, the commercial prospects of strategically-located projects along the metro route are expected to soar, presenting an attractive prospect for investors,” says property consultant.
“In essence, the Gurgaon Metro Project promises enhanced urban mobility and positions itself as a catalyst for substantial returns on real estate investments, making it a compelling opportunity for discerning buyers and investors alike,” says property consultant.
The proposed metro route is an extensive network covering Gurugram’s key sectors and business hubs. Commencing from Sector 45 and extending through Cyber Park, Sector 46, Sector 47, Sector 48, Technology Park, Udyog Vihar Phase 6, Sector 10, Sector 37, Basai, Sector 9, Sector 7, Sector 4, Sector 5, Ashok Vihar, Sector 3, Krishna Chowk, Palam Vihar Extension, Palam Vihar, Sector 23 A, Sector 22, Udyog Vihar Phase 4, and culminating at the vibrant CyberHub.
The daily ridership projections add another layer of optimism, estimated to be around 5,34,000 by 2026, growing to approximately 7,26,000 by 2031. Looking further into the future, the numbers are anticipated to escalate to an impressive 8,81,000-10,70,000 daily riders by 2051.
Source : FE
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