How Can Metro Stations Boost Property for Sale?
Experts say that the property value increases by more than 45% soon after metro is operational considering other factors like Location, Land use and Economic potential of the location.
In India Kolkata was the first city to get metro rail in 1984, next was Delhi to get same in 1995. After they became successful metro then came into others cities Bangalore (2011)followed by Gurgaon (2013) and Mumbai (2014) and finally Jaipur (2015).
Some common changes in property prices were observed in every city soon after the metro became operational which kept on increasing .
These property prices were inversely related to distance from the nearest metro station so as the distance increased the prices they decreased. The trend noticed in Real estate was :
Properties for sale in Commercial
- Increase in Retail or Commercial Land prices wherever the metro stations were.
- Commercial Prices appreciated more in comparison to Residential Real Estate
- If the land is within walking distance prices escalate but if the property is right next to the metro station the effect is not that much
- Change of Land use mostly from residential to commercial or mixed land use development were observed
- Density of locations places having metro connectivity increased exponentially
- Traffic problem considerably solved.
Properties for sale in Residential
- Hike in price of Houses since people are ready to pay more for the services they get near a metro station
- After metro connectivity lot of jobs are generated which further leads to increased demand of houses as residents have low travelling costs and more convenience and gradually the rental of houses as well land prices of metro connectivity properties go up
- The Metro effect is reduced as distance from metro station increases
- Increase in FSI(Floor Space Index) for houses.
Realty Changes In Land Use policy after Metro is Operational
The areas which get metro connectivity get into lot of stress leading to shortage of space after which Government gets into action by granting extra FSI(Floor Space Index) by which more area can be constructed on same piece of land thereby increasing land prices and density.
but as rightly said by Rick Warren “Nothing Great is Built Without Sacrifice ” all these benefits impose lot of stress on the infrastructure of that region, which the regulatory authority must take action on failing which lot of hawkers and street vendors can destroy the sanctity of the place .
In Noida Houses in lot of residential projects will get benefit from Metro connectivity chief among them being flats for sale in Ats One Hamlet Resale , Jaypee Kalypso Court Resale, Jaypee Imperial Court Resale,Prateek Stylome and many more
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