Metro will change the real estate landscape of Jaipur
Unparalleled connectivity and around-the-clock infrastructure development are the two undeniable parameters of growth and development in a city which stirs its real estate prices, and Jaipur is no exception. With the advent of metro, the Pink City has ranked itself as one of the hottest destinations of urban living in the country, riding high on road connectivity, coupled with rail and air.
As per the proponents of the real estate market of Jaipur, the functioning of metro will turn the tables for this hot tourist destination, and craft is as the second-fastest group town in India after Bangalore. Furthermore, connectivity to NH8 and affordable real estate prices (compared to Gurgaon and Delhi) and upgrading of the Jaipur Airport to international standards will bring the city into spotlight as the rising star in real estate.
Metro network to change the transportation system
With the announcement of metro, infrastructure development in the city has hit a jet speed with BRT and road improvements. This, in turn, has enthused local investors and buyers to end their hunt for good deals in Jaipur the trial run for the first phase-East West Corridor for the Metro line was inducted in inducted in 2013 and its commercial run will see the light of the day in 2014.
The Phase 1(A) of the Metro will go through the New Aatish Market, Mansarovar, Ram Nagar, Vivek Nagar, Railway Station, Chand Pole,Shyam Nagar, Civil Lines and Sindhi Camp, which are quite developed. As per market reports, the Phase II-North South Corridor is likely to be functional by the year end of 2017.
Impact on real estate and property prices
Metro services are expected to have direct influence on the property values of Jaipur. To be more specific, localities such as Vivek Vihar, Mansarovar and Shyam Nagar etc. which are adjacent to the metro route, are the areas which will make the most of the infrastructural development, with a rise in property rates. As per experts, the metro second phase will influence the region between Tonk Road and Sitapura Industrial Area.
With the announcement of the metro plan, the real estate market of the city registered huge activity. Functioning of the metro is expected to give the much-needed spur to the outer and suburban areas like Durgapura and Sitapura, reducing the time-travel significantly and luring investors to buy properties in the areas. Furthermore, with the functioning of metro, Jaipur will gain upper hand over Delhi NCR market, in terms of realty. Less pollution and decent population of the city makes it a preferable abode for investors and end-users, in comparison to Delhi-NCR.
