Gurgaon, March 6: The Gurgaon-Manesar stretch is set to get a major boost with the upcoming metro project. According to experts, the project would result in both corporate and rental development in the region, resulting in appreciating rentals and capital property rates.
The Haryana government has approved a proposal to set up Mass Rapid Transport System (MRTS) between Gurgaon and Bawal. The proposed metro line will extend from Huda City Centre in Gurgaon to Bawal in Rewari and will pass through Industrial Model Township (IMT) in Manesar. According to authorities, the first phase of the project is likely to be launched by March 2017.
The proposed Metro project is expected to improve connectivity between commercial and industrial hubs of Gurgaon alongwith residential areas.
“The metro line will be the biggest boon for the Gurgaon-Manesar belt. It will not only reduce commuting time and provide relief to lakhs of commuters in this zone, but also greatly decongest the roads in the area,” says Harinder Dhillon, Vice President- Sales, DLF.
Vivek Singhal, President, Corporate Strategy, M3M Group agrees with the view. “The upcoming Metro corridor will also smoothen the connectivity of the Southern Peripheral Road (SPR) sectors 70, 71, 74A to other parts of Gurgaon,” he says.
The project would also boost the property prices, and benefit the suburbs with multiple transport systems such as bus networks, railways and metro.
“The Gurgaon-Manesar metro line will have a positive impact on the residential and commercial developments in the vicinity. Since MRTS will increase accessibility in that region, it will also help induce a sense of credence among the end-customers and help circulate stalled investment,” says Vineet Taing, President, Vatika Business Centre.
Dhillon says the metro line is expected to result in increase in capital values. Even the rental market stands to benefit as the buyers are going to clamour for apartments near the metro line.
The metro project will also have a positive impact on prices of commercial property. “Commercial office spaces and retail hubs will mushroom around the metro line. This would lead to significant increase in rentals of commercial spaces in the vicinity of the metro,” says Dhillon.
The Metro project would also drive infrastructural development and employment along the Southern Peripheral Road besides addressing traffic woes in the region.
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