+
Namma Metro Phase-3 Project: Property prices to soar
RAILWAYS & METRO RAIL

Namma Metro Phase-3 Project: Property prices to soar

The recent approval of Namma Metro Phase 3 of the Bengaluru Metro Rail Project by the Union Cabinet is expected to lead to a significant increase in property prices in certain areas, according to real estate experts. The project, which will introduce two elevated corridors totaling 44.65 km, is anticipated to boost property prices by over 30%, as reported by HT.

Manoj Agarwal, Founder of Agarwal Estates, predicts an immediate 10% increase in property prices, with an additional 20% rise expected in the medium term. Agarwal pointed out that even the announcement of Phase 3 has already led to a 10% rise in property prices, and developers are likely to raise prices for projects along the new metro lines within the next one to three months.

Bhavesh Kothari, Founder and CEO of Property First Realty, shared a similar perspective, noting that investors often purchase properties in anticipation of the metro's completion, causing prices to rise even before construction begins. Kothari explained that this speculative buying is common in areas where enhanced connectivity and accessibility are expected. Phase 3 of the Bengaluru Namma Metro Rail Project is set to improve connectivity between the city's western outskirts, the Outer Ring Road, and key areas in the Secondary Business District, including JP Nagar and Bannerghatta Road. Once completed, it will provide metro access across the entire ORR and link southern and western Bengaluru to Kempegowda International Airport via Hebbal.

The recent approval of Namma Metro Phase 3 of the Bengaluru Metro Rail Project by the Union Cabinet is expected to lead to a significant increase in property prices in certain areas, according to real estate experts. The project, which will introduce two elevated corridors totaling 44.65 km, is anticipated to boost property prices by over 30%, as reported by HT. Manoj Agarwal, Founder of Agarwal Estates, predicts an immediate 10% increase in property prices, with an additional 20% rise expected in the medium term. Agarwal pointed out that even the announcement of Phase 3 has already led to a 10% rise in property prices, and developers are likely to raise prices for projects along the new metro lines within the next one to three months. Bhavesh Kothari, Founder and CEO of Property First Realty, shared a similar perspective, noting that investors often purchase properties in anticipation of the metro's completion, causing prices to rise even before construction begins. Kothari explained that this speculative buying is common in areas where enhanced connectivity and accessibility are expected. Phase 3 of the Bengaluru Namma Metro Rail Project is set to improve connectivity between the city's western outskirts, the Outer Ring Road, and key areas in the Secondary Business District, including JP Nagar and Bannerghatta Road. Once completed, it will provide metro access across the entire ORR and link southern and western Bengaluru to Kempegowda International Airport via Hebbal.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?