Real estate prices in the cities that have metro connectivity or which are in close proximity to the metro stations are comparatively higher than cities which do not have metro connectivity. In cities like Delhi where majority of middle class people travel by metro, prefer to purchase house in areas that have metro connectivity. The developers of real estate are expecting rise in property rates in the areas which are under the DMRC for metro projects. Every year the city witnesses jump in the rates of property by 5-10 per cent. The experts of the real estate believe that the areas which have metro connectivity or which are under development of metro route will experience jump of more than 10 per cent.
Interestingly in some areas the prices near the metro area where quite low when the construction was taking place and there very fewer buyers of that land but after the completion of metro route the prices of the land started to pick up slowly. The floor area ratio has risen from 3 to 4 which indicate that the construction that falls within 150-250 metres in proximity with the metro station will increase the number of floors; this statement was given by president of Bangalore realtors association of India.
Interestingly in some areas the prices near the metro area where quite low when the construction was taking place and there very fewer buyers of that land but after the completion of metro route the prices of the land started to pick up slowly. The floor area ratio has risen from 3 to 4 which indicate that the construction that falls within 150-250 metres in proximity with the metro station will increase the number of floors; this statement was given by president of Bangalore realtors association of India.
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