The Real Estate market of Gurgaon is going to take a surge and this time it is due to the Latest GMRC Metro Route, connecting important sector and business hubs.
Gurugram, initially Gurgaon, is going to see another surge in its property prices due to the upcoming metro projects. This project will not only increase property prices but will also transform the city’s infrastructure. The government has established a separate body, GMRC(Gurgaon Metro Rail Corporation) with DMRC and NMRC (Delhi and Noida). GMRC will solely be responsible for the city’s Metro Project.
Some sources reveal that the Government of Haryana has said that the central government will arrange important finances for the upcoming metro project. This support will also expand the metro network of the city. Thus looking at the magnitude of the project ensuring clear management of funds, and overlooking the ongoing project, the GMRC has been formed as a separate entity.
Many developers and channel partners exclaimed that this development is big real estate news. These metro projects that are to be developed in Gurgaon will also increase the property values along its route. Those who are eying growth opportunities to invest should maintain a keen eye over the development along the route of the metro. This metro development will catalyze further growth in the area. GMRC if focusing on the development of the metro in the city. This development is going to completely transform the landscape of the city. The ROI in the area is going to be huge so the investors must keep a close watch. There are some of the most important sectors and business districts of Gurgaon along the route.
The project was already passed by the union cabinet in June this year, the metro will link the Millennium city center with the renowned Cyber City. The length of the metro link is going to be 28 kilometers covering almost 27 important locations of Gurgaon. The project is going to cost around Rs 5452 Crore. The project will take almost 4 years to complete from the date of the start. This metro will be an important mode of transport for Gurgaon connecting old Gurugram and new Gurgaon.
The Future of Real Estate with Gurgaon Metro
Metro Project in Gurgaon will highly increase the potential of the commercial real estate along its route. The Global Foyer Mall near the metro line will benefit from the line. This development will be a keystone for the development of Gurgaon.
The new metro line will connect many important places in Gurugram. It starts from Sector 45 and goes through places like Cyber Park, Sector 46, Sector 47, Sector 48, Technology Park, Udyog Vihar Phase 6, Sector 10, Sector 37, Basai, Sector 9, Sector 7, Sector 4, Sector 5, Ashok Vihar, Sector 3, Krishna Chowk, Palam Vihar Extension, Palam Vihar, Sector 23 A, Sector 22, Udyog Vihar Phase 4, and ends at the lively CyberHub.
The survey further showed that the ridership will be around 534000 in 2026 and this number will grow up to 726000 by 2031. The numbers might also cross the mark of a Million by 2051.