Suburban railway to boost real estate in Bangalore

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suburban railway

A full-fledged suburban rail network has immense potential to decongest the city’s notoriously traffic-clogged roads. Just like some of the other major cities, the suburban train network in Bangalore is also expected to cater to the demands of the rising population in the city. Additionally, it will also boost the real estate market in Bangalore.

The population of Bangalore, over the years, has increased by manifold. As per the records, there has been a significant rise in the inhabitants of the city from 8.7 million in 2011 to 12.34 million in 2017. With the increase in population and factors such as unplanned road system, the situation of the city in terms of traffic congestion is alarming. Bangalore suburban rail network is great news for all those who are unhappy with the worsening traffic scenario of the city.

Brief details about the project

With an estimated daily ridership of 9.28 lakh, the upcoming rail project is an answer to the persistent traffic snarls of the city. The length of the proposed network is 161 km which will criss-cross the city in six different directions. It will be divided into four corridors which will be as follows:

Corridor 1

Kengeri-Bangalore city-Whitefield (35 km)

Corridor 2

Bangalore city-Yelahanka-Rajanakunte (27 km)

Corridor 3

Nelamangala-Mathikere-Baiyappanahalli (39 km)

Corridor 4

Heelalige-Yelahanka-Devanahalli (60 km)

 

The basic infrastructure for these routes is already in place. However, a few of the stations require platforms to be built while others require an extension, doubling, quadrupling and fencing of tracks. Other than the existing 29 stations, 52 new stations have been proposed under the said project. The projected cost of the entire network is over Rs 19, 000 crore which will be shared between the Indian Railways and the State government.

Impact of the suburban railways

The planned network is expected to cater to the infrastructural growth of Bangalore metropolis and propel demand in the suburban areas, thereby creating an opportunity for the investors. Not only will it enhance the productivity and infrastructure of the city, but will help various micro-markets located on the outskirts of the city. Marathahalli, Whitefield, Indira Nagar, Electronics city, Sarjapur, and Silk Board Junction are some of the areas that will immensely be benefitted in terms of traffic congestion. Consequently, it will help to escalate demand for residential units in these localities. Additionally, Mysore Road will get a significant boost as there are several residential projects on this road, including a multitude of townships.

Sharing important details about the said project, Vishal Parwani, Owner, SSB Properties, Bangalore, avers, “The first corridor of the suburban network will be beneficial for the professionals working in International Tech Park (ITPL). It will also link large IT parks such as Global Village in Mysore Road to ITPL and subsequently increase the housing demand in the locality. The second corridor will be a boost, majorly for the students. There are several prominent educational centres on this route. Moreover, it will provide opportunities to those working in the Textile Park, located in Doddaballapur. There are a number of residential societies along Doddaballapur Road which are likely to witness a rise in rental and capital values”. Currently, the average capital rates in Doddaballapur range from Rs 3, 500-Rs 4, 800 per sq ft. A mid-sized 2BHK unit is available on rent for Rs 10, 000-Rs 11, 000 per month.

Talking about the third and the fourth corridor, Vishal says, “The third corridor, i.e., Nelamangala-Mathikere-Baiyappanahalli will benefit the residents of Tumkur and Nelamangala. Tumkur is a large district comprising of several villages. The said route will benefit the youngsters and encourage them to explore residential and employment opportunities in these areas. The fourth route, which is the largest of all, will connect the North and the South corridors. It will provide a major boost to the IT parks, right from Electronics city, to ITPL, and Manyata Tech Park. It will also propel real estate in Bellary Road, Devanahalli, and Nandi corridor. Additionally, Carmelaram, which is a small station on Sarjapur Road will witness high footfall owing to the presence of a large number of companies on Sarjapur Road”.

In a major move, the railways has recently agreed to give 650 acres of land for the project at Rs 1 per acre. With persistent initiatives to fast-track the pending work, the suburban network is likely to become a realty soon. Meanwhile, the residents have kept their fingers crossed in search of a sustainable answer to the rising traffic and pollution levels across the city.


Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.


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