Though it stretches along merely 6.7 km of the Central Business District, the Reach 1 of the Bangalore Metro seems to have proved to be a boon for the real estate sector. Not only has it boosted residential and commercial property prices by 20 per cent over the last one year, it has also provided the much needed push for the rest of the areas surrounding the Reach 1 stretch.
Areas like M G Road, Indiranagar, Ulsoor and Baiyappanahalli have recorded a price soar by Rs 2,000-4,500 per square feet, but areas surrounding these core areas have also seen a rise of 5-10 per cent in prices.
“This is just the start. Once the entire line opens up there will be a huge boost in the prices of properties and even rents will go up. The standard of living will shoot up dramatically too. Bangalore will become a much costlier city to live in,” estimates Sreeja Karnik, a strategy consultant working with a leading realty firm.
Meanwhile, the lack of parking space outside commercial establishments is visible. Rajesh Sethi, a realty expert, said, “There is absolutely no parking space. That is the reason why many commercial establishments are suffering along Trinity Circle. It has resulted in sudden development of 100 feet road Indiranagar.”