Monorail to Support Real Estate Growth in Indian Cities

The monorail, which is a rail-based mass rapid transit system (also called mass transit system) is set to change the real estate market in many of the Indian cities. The monorail is being built to provide connectivity across different locations within a city and support the metro rail in most of the cities. The transit system is being built in different phases with each phase consisting of different lines. Each of these lines will be connecting different parts of a city.

Due to improved connectivity, the monorail will reduce traffic congestion on roads and highways, and reduce commuting time significantly between different points of a city. As such, this will have a significant effect on the real estate market growth in various cities across India. Following are some cities in India with proposed and upcoming monorail lines.

Mumbai Monorail improves connectivity

Mumbai monorail is the first monorail system being built in India since Indian monorail was shut down in 1927. The project is being implemented by MMRDA in collaboration with a consortium of Larsen & Toubro (L&T) and Scomi Engineering. The project will connect the western suburbs of Mumbai to south Mumbai through Jacob Circle and Chembur via Wadala. It will also connect Thane to Mumbai suburbs.

The monorail will be built in two phases. The first line of Phase-I will connect Chembur and Jacob Circle via Wadala. The stretch between Chembur and Wadala has neared completion and is awaiting final clearance.

The Mumbai monorail will have significant effect on the city’s real estate market. Due to the first line, the commute time between Chembur and Wadala will be reduced by almost 20 minutes. Direct connectivty and reduced commuting time between these two points has already attracted demand for residential units and will continue to do so in these areas.

Kozhikode monorail decongests city traffic

Kozhikode, commonly known as Calicut, is a tier 2 city situated in Kerala. The city experiences heavy traffic congestion due to narrow roads. Widening of roads in the city to accommodate mass transit systems is a challenge due to various factors. Considering the economic feasibility and geographic attributes of the city, the state government has opted for a monorail. The Kerala Monorail Corporation Ltd (KMCL) and Delhi Metro Rail Corporation Ltd (DMRC) will be jointly responsible for the construction of the monorail.

The Kozhikode monorail will be constructed in only one phase and will have 15 stations on one single line. The line covers a 14.2 km stretch from Medical College Hostel to Meenchanda. It will pass through major areas such as Mavoor Road, Mananchira, Palayam and Kallai. The project is currently in the planning stage. With the emergence of the monorail, the areas affected may witness growth in infrastructure.

Thiruvananthapuram monorail caters to city’s traffic needs

The monorail in Thiruvananthapuram is an alternate to the shelved metro rail. The project was planned by the Kerala government to handle the traffic needs of the capital of Kerala. The total length of the monorail system is approximately 22.5 km. It will have three routes and a total of 19 stations. The first route is between Technocity and Kariavattom. The second route is from Kariavattom to Kesavadasapuram and the third route will be from Kesavadasapuram to Karamana.

The cost of the project is an estimated Rs. 3,590 crores. KMCL and DMRC are again responsible for the construction of the monorail. The monorail is currently in the proposal and planning stage. DMRC has also suggested a light rail transit system as an alternative to the monorail. Either of these projects will result in the growth of real estate in the affected areas.

Delhi monorail to augment Delhi metro

The Delhi monorail system is planned to augment the metro rail in the city. The monorail system will be initially built in one phase consisting of three lines. Apart from this, there are other monorail lines expected to be built. The first proposed line that will be worked on is from Shastri Park to Trilokpuri passing via Nirman Vihar. The distance of this stretch is 11 km. The work on this stretch was supposed to commence in mid-2013 and complete in by 2017. However, the proposal has just cleared the feasibility stage and the work is yet to commence. Once the line is complete, areas along this stretch will see positive growth.

Bengaluru Monorail will be a feeder railway network

Bengaluru monorail is a proposed monorail system for the city of Bengaluru (popularly known as Bangalore). The proposed network will connect JP Nagar to Hebbal and the Peripheral Ring Road to Magadi road toll gate. A UK-based consultancy firm appointed by the Karnataka government has proposed the Light Rail Transit (LRT) as a more advantageous alternative to the monorail. The nodal agency that will be implementing the proposed project is The Bangalore Airport Rail Link (BARL) Ltd.

With either of these projects, areas along JP Nagar and Hebbal stretch as well as Magadi Road and Peripheral Ring Road will hugely benefit.

Chennai monorail will reduce traffic congestion

The Chennai monorail system is planned to reduce traffic congestion and increase the share of public transport in the city of Chennai. The aim of the monorail system is to increase the share of public transport from 27% to 46% by the year 2026.

The first phase of the Chennai monorail will have three elevated corridors spanning a total distance of 57 km. The three corridors will be from Vandalur to Velachery via Tambaram East, Poonamallee to Kathipura via Porur and Poonamallee to Vadapalani via Valasarawakkam. There may be other phases planned at a later stage. Phase 1 will have 34 stations. Easch station will be in a particular locality along the stretch. Once the monorail is complete, these areas may expect rapid growth. The estimated project cost of phase 1 is approximately Rs. 80.5 million.

The following table provides an idea about the different proposed and upcoming monorail projects in India.