The relationship between metro connectivity and property values in the capital is strikingly symbiotic, mirroring a train running seamlessly along parallel tracks. The moment new metro lines are announced, property rates tend to follow suit and ascend.
With the Delhi Metro advancing into its Phase III project, which will extend to regions such as Vasant Vihar, Dhaula Kuan, Munirka, Kalka Ji, Lajpat Nagar, and Botanical Garden (Noida), a significant surge in real estate prices is anticipated. The presence of metro lines undoubtedly influences the real estate market, offering residents a reliable and comfortable transit option. Buyers are increasingly inclined towards homes located in close proximity to metro stations. However, given the considerable rise in prices that has already occurred, it can be challenging to predict the full impact of these new metro lines.
Industry experts indicate that the properties near metro stations can expect the greatest appreciation in value. This dynamic can be likened to a U-shaped curve: following the announcement of projects, prices typically rise, dip during the construction phase, and then soar again upon project completion. On average, a property might see a price increase of 20-30% over three years. Notably, homes situated close to metro stations can experience an increase of 35-40%. In light of the escalating property values near metro routes, the Delhi Government's Municipal Valuation Committee has recommended upgrading the residential colonies within half a kilometer of these metro lines, acknowledging the substantial infrastructure developments occurring in these areas.