Improving infrastructure of metro cities in India is giving an exponential rise to the property market and its value. The evaluation of property prices mentioned below is given according to the infrastructure of metros in India
1. DELHI & NCR Real Estate
Development of infrastructure in Delhi is providing right of entry to places where even now people produce two first-class crops on an annual basis.
Delhi Metro: Metro connection in Dwarka, a region of west Delhi, has set the price in motion by about 70 per cent and a further increase of 20-30 per cent is expected by the end of 2008, especially in sectors 2, 5, 8, 9, 10, 11, 12, 13 and 14. The eastern part, adjacent to Noida, which will get connected by the end of 2009, according to the statement of government officials, is witnessing shooting up of property prices along the Metro. Sectors, which will accommodate Metro stations – 15, 16, 18, 32 (city centre), the botanical garden and the golf course – are expected to see a rise of nearly 25-30 per cent.
Taj Expressway: The road that connects Noida to Agra will reroute traffic approaching from the south and going north and north-west from going through the city. After the completion of work on this project, prices have gone up from Rs 2,000-2,500 per sq. ft. to Rs 2,500-4,000 per sq. ft. in Greater Noida.
Now the price is expected to go up by 30-35 per cent. In the mean time, Greater Noida is not behind to witness a rise of population from 1, 50,000 to 4, 00,000 by the coming year. In addition, developers like the Ansals, Eldeco and Unitech are coming up with a number of residential projects there.
NH8 Expressway: The completion of this project, which links Dhaula Kuan in Delhi with Gurgaon, has given a huge rise in property prices near it and surrounding areas of the Expressway.
2. MUMBAI Real Estate
Trans Harbour Link: An ambitious project linking Uran with Shivri across the harbor will become operational by the end of 2015. This project is expected to push up the property price in mumbai by 30-40 per cent in southern part of Mumbai, eastern suburbs and the SEZs planned around the area.
Mumbai Metro: The link connecting Versova to Ghatkopar will give a rise in property prices by 40-50 per cent in some areas.
3. BANGALORE Real Estate
Outer Ring Road: At present, the prices are set between Rs 3,000-3,500 per sq ft on the Outer Ring Road that connects KR Puram to Hosur Road. The price is expected to shoot up be 15-20 per cent.
Airport: This project in Devanahalli, in the northern region, is to be completed by the end of this year. The prices there are pegged at Rs 2,000 per sq ft now. In the next two to three years, a rise to Rs 3,500-4,500 per sq ft is predictable.