Metro corridor a golden goose for builders
BANGALORE: The key infrastructure projects in the city today are guiding the course of growth of the real estate market. The metro corridor, the most lucrative among such projects, has attracted investments to the tune of Rs 4,500 crore in the last six months.
Experts claim that this is only going to improve as the work on the Metro project speeds up and the operations begin.
Be it new, old, small or big, developers from all categories are increasingly investing their money in the Metro corridor because this holds profits worth double their current price in the future.
“Today, the Metro corridor is the only area in the city that can be used more effectively. Zonal restrictions of any kind do not apply on the Metro corridor. So a builder can construct a residential, retail or even commercial project along the corridor without any hassles. The corridor will have a higher premium and will generate higher FSI, which means they can build more along the corridor,” said CEO-Asia Pacific of Vestian Global Srinivas Rao.
Further, once the Metro operations begin, the activity on this corridor too will improve dramatically. “Developers are investing heavily in the Metro corridor and the reason is that it will bear fruit soon. Also, the project has been criticised for not being able to provide end-to-end connectivity. This problem will be solved as residential projects soon start cropping up along the corridor.
Commercial establishments and offices too are looking at attracting more business around the Metro stations,” said Prof Rajmurthy, a town planning expert.
Experts are further claiming that the corridor will continue to draw more than 80 percent of the total investment in real estate in the city, in the next six months.