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The Gurugram Metro declaration made during the Haryana budget is expected to significantly increase demand for residential and commercial space, according to real estate developers.
With 27 stations, including a stop at the Dwarka highway, the projected 28.8-km-long corridor that will connect the Huda City Centre to Cyber City via Old Gurgaon is anticipated to feature 27 stations.
During the year 2022, the real estate properties in Gurugram experienced extraordinary growth. According to Ravish Kapoor, Managing Director of the ELAN company, “the metro project is anticipated to increase the connectivity of the area, leading to a rise in demand for residential and commercial buildings.”
The region’s appeal to both homebuyers and developers is likely to grow as a result of the increased connection. Property values will rise as a result, especially in locations adjacent to the proposed metro stations.
The increasing demand is likely to benefit real estate developments that are currently under way or in the planning stages in these areas, and their value may rise, according to Kapoor.
The proposed network will connect some of Gurgaon’s well-known neighbourhoods, including Cyber Park, Subhash Chowk, Hero Honda Chowk, and Udyog Vihar.
The Gurugram Metro Expects To Generate Significant Revenue Growth
The 28.5 km long metro project between HUDA city centre and Cyber City in Gurugram has been included in PM Gati Shakti projects and is now in the advanced stage of final approval from the Union government.
There are three metro projects announced by Haryana Chief Minister Manohar Lal Khattar that are in various stages of implementation after reviewing the performance of mass rapid transit in Gurugram and the progress of ongoing metro projects in Haryana.
The projects in question are a metro link from Rezangla Chowk to New Delhi’s Indira Gandhi International Airport (via Dwarka Sector-21), a metro link from the southern peripheral road to Panchgaon via Global City and Manesar, an extension of the Bahadurgarh metro up to Asaudha to connect with the Haryana orbital rail network, and the Kundli-Manesar-Palwal (KMP) motorway.
The other project, from Rezangla Chowk to Dwarka, to connect IGI Airport, has also been sent to the Union Ministry of Housing and Urban Affairs for approval, according to the chief secretary.
He stated that metro connectivity between Faridabad and Gurugram will be considered for a double-decker viaduct in collaboration with NHAI.
Source: Hindustan Times