Transport being the major factor that decides the stature of any city’s connectivity, meanwhile Bangalore is all set to welcome the metro rail, this October. The ever expanding boundaries of Bangalore are now all set to be connected through the 1st phase of the Bangalore Metro Rail Corporation Limited (BMRCL) and this brings in whole new prospects of revenue in the city. Undoubtedly, metro has chugged in a whole new form of real estate. With the completion of the 1st phase around the corner, there is a steady rise in the value of commercial buildings around the M.G road to Byappanahalli and is speculated to increase as the metro comes perfectly into place. Metro has not only raised the demand for commercial office spaces but even the demand for living spaces like apartments and sites, around the same area. Here are few real estate factors listed below that would be affected with the commencement of the BMRCL metro:
Rentals:
Existing rentals are going to a drastic rise due to the increase in demand. This would be a little lesser in the case of residential plots when compared to commercial spaces but the price increase is sure to take place.
New buildings:
The demand for empty space around CMH road and Indiranagar are set to increase due to the linear increase in the demand for commercial shopping spaces like malls and shopping complex. Real estate dealers are already negotiating on places around the old airport road and striking interesting on plum deals for old buildings that are set to be torn down. To make way for newer, more sophisticated buildings.
Land Prices:
Areas around north Bangalore like Malleshwaram and Vijayanagar which are mostly considered as residential areas are seeing a slow increase in revenue rates and many investors are keen on investing into commercial plots in these areas as well due to the metro construction that has picked up considerable speed in these areas.
Malls:
The metro that passes through Malleshwaram has a special stop being assigned for the Mantri mall that has been constructed in 2010 by the Mantri builders on Sampige road which gives shoppers direct access to the mall. The space for the construction of the station is supposedly provided free of cost by the Mantri builders, to the Government, to aid in the construction of the station. Advantages like these are bound to attract investors to invest in commercial spaces.
Long term investments:
Places like Puttenahalli and other remote places in Bangalore are likely to be connected through the Phase I of the metro project. Investing in places surrounding these areas is affordable now and will start to rise by the end of year 2012. Meanwhile, real estate companies are keen on acquiring empty plots in these areas.
Connectivity in the city is ready to take a drastic changes by the end of 2012 and every person is ready to invest on the changes. With very few risk factors involved and guaranteed returns, investing on real estate that will boom along with the infrastructural development in the city seems to be a wise idea.
