The commercialization of the east west corridor has increased property rental value in both eastern and western suburbs that are leading residential pockets.
True Shazad, In the past one month, rental values across areas like Indiranagar, Ulsoor and Vasanthnagar or localities close to a metro station have also risen significantly
One year ago, the rent for a 3 bhk apartment in Ulsoor was around Rs 30,000, now which has gone up in between Rs 37,000 to Rs 40,000
According to JJl report, Usually it is observed that property prices appreciate at a faster pace when an infrastructure project is announced and again when it is nearing completion. That's quite strange that the east -west corridor has not yet seen property appreciation.
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It started on 30th of April and the BMRCL official said there were 21 trains for the east-west corridor. BMRCL claims that it will take 35 minutes to reach from one end to the other and it is likely to cost Rs 40 to travel between the two stations.
According to sources, many new establishments are expected around this east west corridor which will upgrade the property prices. It is expected that the property prices will see an upward trend by 10 to 20 % in the coming years.
Now-a-days home buyers and investors are choosing residential areas along the east west corridor. This metro connectivity is now changing the real estate equation in the residential areas which are closer to the metro corridor.
As said by Shazad, the metro line gave a push to the realty prospects in several residential markets along the corridor.
Yes of course this east west corridor is going to see tremendous change in the real estate segment. As all of us know that after the metro line from Baiyapanahalli to MG Road was operational, the property price in that stretch started seeing rise in the property price, that is very obvious.