Gurugram metro expansion to accelerate demand in real estate

The Union Cabinet approved the expansion of metro connectivity in Gurugram. The metro line project is from HUDA City Centre to Cyber City, with an additional 1.5-km spur line connecting to the Dwarka Expressway. The total distance will be 28.50 kilometers, incorporating a total of 27 stations along the route.  

• The project, with an estimated cost of Rs 5,452 crore, aims to enhance transportation infrastructure for efficient public transportation in the city.
• The Haryana Mass Rapid Transport Corporation Limited (HMRTC), functions as a 50:50 Special Purpose Vehicle (SPV), which is a joint venture between the Centre and Haryana government.
• The project is expected to be completed within four years from the date of sanction.
• The initial phase of this project will connect Old Gurugram, including the Gurugram Railways Station.

Image Credit: Pexels

The much-awaited project of expanding metro connectivity from HUDA City Centre to Cyber City in Gurugram has been approved. Enhancing the transportation infrastructure in the city, the new metro line will cover a distance of 28.50 kilometers. In addition to this, there will be a 1.5-kilometer spur line connecting to the Dwarka Expressway.

Existing metro network in Gurugram

Gurugram is presently linked to the national capital through the 49.019-km Yellow Line of the Delhi Metro. But, only a 7.05-km stretch falls within Guurgram, comprising five stations such as Guru Dronacharya, Sikandarpur, MG Road, and IFFCO Chowk. The HUDA City Center Metro Station is currently the last station on this route. Additionally, Gurugram also boasts an internal rapid metro system, which is interconnected with the Delhi Metro.

Metro Connectivity from HUDA City Centre to Cyber City

The proposed metro connectivity project, including a spur to Dwarka Expressway, is estimated to have a total completion cost of Rs. 5,452 crore. The metro line will be constructed as a standard gauge line with a width of 1435 mm (5 ft 8.5 inches) and will be entirely elevated.

To ensure connectivity to the depot, a spur from Basai village has been included in the project design. The implementation of the project will be overseen by the Harayana Mass Rapid Transport Corporation Limited (HMRTC). This corporation will be established as a 50:50 Special Purpose Vehicle (SPV) jointly owned by the Government of India and the Government of Haryana, following the issuance of the sanction order.

The project is scheduled to be completed within four years from the date of project sanction. The HMRTC will be managing and executing the construction and operational aspects of the metro line.

Image Credit: Ministry of Housing & Urban Affairs

Proposed Gurugram Metro Corridor: Expected to Boost Real Estate

The unveiling of the Gurugram metro has generated hopes among real estate developers, who anticipate a strong surge in both residential and commercial property demand.

1. Increase in property prices: The metro project is anticipated to lead to an increase in property prices, particularly in areas close to the proposed metro stations. This is due to the enhanced connectivity and improved accessibility that the metro system will provide.
2. Real estate appreciation: Existing real estate projects that are already under construction or in the planning phase in the areas near the proposed metro stations are likely to benefit from increased demand and experience appreciation in their value. This presents an opportunity for property owners and investors who have already invested in Gurugram.
3. Economic development & business prospects: The Gurugram metro project is expected to contribute significantly to the economic development of the state. It aims to enhance connectivity, generate new business prospects, and create investment opportunities for various stakeholders.
4. Improved connectivity and commercial activity: The improved connectivity offered by the metro system is likely to stimulate commercial activity in Gurugram. This can lead to a rise in property prices in areas situated close to the metro stations. Developers anticipate increased sales and demand for residential and corporate complexes in these areas.
5. Overcoming traffic flow issues: Gurugram has faced challenges related to heavy traffic flow, which discouraged daily commuters and potential property buyers. The introduction of the metro system is expected to address this issue by providing efficient and environment-friendly transportation options.
6. Attraction for buyers: Convenient transportation options in close proximity to residential and corporate complexes have been a significant driver of sales for real estate developers. The availability of the metro network is expected to attract potential buyers and investors who seek improved connectivity and ease of commuting.
7. Impact on nearby areas: The metro extension would not only benefit Gurugram but also facilitate buyers who have invested in areas near Dwarka Expressway. The metro system is expected to make commuting more feasible and enhance connectivity for residents in these areas as well.

The introduction of this metro project is expected to have a positive impact on property prices, economic development, and connectivity in the Gurugram region. It is going to improve the daily commute for residents, boost the real estate market, and drive economic development in the region. The project signifies a strong commitment towards enhancing public infrastructure and creating a more livable and connected city for the people of Gurugram.