The introduction of new metro services in the historical city of Nawabs, Lucknow, is heralding a transformative phase for its real estate sector. Considering that high-quality connectivity is fundamental to development, the surge in property values across various locales in this Uttar Pradesh capital has already begun.
Areas situated along the North-South Corridor, such as Indiranagar, Krishnanagar, and Hazratganj, are already witnessing an uptick in property prices.
Alambagh, known as a commercial nucleus, has been grappling with an accumulation of inventory; however, the anticipated metro connectivity is projected to reinvigorate the area’s market.
While Jaipur is anticipated to be the pioneering Tier-II city to inaugurate its metro rail services, the rapid advancement of Lucknow's metro initiative is nothing short of impressive.
The Metro Railway project is strategically designed to mitigate the congestion currently plaguing the roads, simultaneously facilitating easier access to the Lucknow Airport from any location within the city. This enhancement will significantly improve travel efficiency for all residents.
Commencing in December of this year, the first phase of this ambitious metro venture is slated for completion by December 2016. This phase will span a distance of 24 kilometers, connecting the airport to Munshi Pulia and is expected to incur a budget of approximately Rs 17,000 crore.
Two extensive corridors are proposed: the North-South Corridor, measuring around 27 kilometers, which begins at a station close to Amausi Airport and concludes at Indiranagar; and the East-West Corridor, extending 13 kilometers that starts from Gautam Buddha Marg and terminates at Vasant Kunj on Hardoi Road.