by THO
With Bengaluru’s metro red line linking Sarjapur to Hebbal getting the Karnataka cabinet approval, rentals in areas in and around southeastern Sarjapura and Hebbal in the northern part of the city are likely to increase by 10 to 30% over the next couple of years, said local brokers.
The state cabinet’s nod allows the Bangalore Metro Rail Corporation Limited (BMRCL) to initiate pre-construction activities, including land acquisition, utility shifting, and design work. However, civil construction can commence only after receiving union cabinet approval.
The Karnataka cabinet approved Phase 3A of Namma Metro, also known as the Red Line, on December 7. This 36.59-km corridor will link Bengaluru’s important IT corridors, Sarjapur in the southeast and Hebbal in the north, further enhancing the city’s connectivity.
Also Read: Bengaluru metro’s red line linking Sarjapur to Hebbal gets state cabinet approval: Report
While Sarjapur remains one of the important corridors in southeastern Bengaluru, Hebbal connects three major locations—the international airport, KR Puram in the east, and Tumkur Road in the west—thus commanding strategic investments.
Which areas will the red line cover?
With 28 stations, the line will feature five key interchange stations at Iblur, Agara, Dairy Circle, KR Circle, and Hebbal — thus decongesting major choke points in central Bengaluru.
The project, estimated to cost ₹28,405 crore, is set to move to the union cabinet for approval, as the central government holds a 50% equity stake in Namma Metro. Approval from the union cabinet is expected by December 2025 or earlier. Following that, the project will have a completion timeline of five and a half years, targeting 2031 for operation.
The per-kilometer construction cost, at ₹776 crore, makes it the most expensive phase in Namma Metro’s history.
Metro connectivity may lead to migration of techies to south Bengaluru
Experts say metro connectivity will affect locations beyond the line’s immediate catchment area. Manoj Agarwal, director of sales and leasing at Agarwal Estates, said that while real estate in Sarjapur has been looking up post-pandemic, it does not have any metro connectivity.
“This will majorly impact real estate in and around Sarjapura. However, as the line connects other areas across central Bengaluru and Koramangala, we may see a migration of techies away from Sarjapura Road, where real estate prices are already high. On the other side, we may now also see people from other parts of the city moving closer to southeastern parts of Bengaluru due to the available infrastructure,” he said.
As rentals soar across the city, people are constantly looking for affordable, larger homes with convenient transport facilities. According to experts, the Red Line metro, which is expected to link the north and southeast, may offer the ideal migration opportunity.
Generally, over the next 3-4 years, real estate rentals in southeast Bengaluru will rise by at least 10-20%. “However, now that the metro is being announced within the next five years, we may as well see an additional appreciation of 10%,” Agarwal said.
Parts of south Bengaluru have a 2BHK available for rent at ₹30,000-35,000 per month. Sarjapura commands rentals that can go as high as ₹40,000 per month for a 2BHK.
Also Read: Average property prices rise two-fold along Bengaluru metro’s 3 km green line extension
Impact on North Bengaluru
North Bengaluru started as an industrial area about two decades ago. However, the construction of Bengaluru International Airport and the Manyata Tech Park were game changers that led to the development of several micro markets, such as Hebbal, Yelahanka, and Thanisandra Main Road.
Today, several parts of north Bengaluru form a key part of the launch portfolio of prominent developers like Puravankara, Shriram Properties and Brigade Group. Areas in north Bengaluru, like Yeshvanthapur and Hennur, also have 2 BHK apartments available for ₹25,000 to ₹30,000 monthly. Areas like Hebbal has a 2BHK available for over ₹30,000 per month.
Manjesh S Rao, Chief Real Estate Officer at BrokerInBlue, said metro connectivity could boost rental prices in north Bengaluru by at least 20% to 30%.
“We are already committing 28% of rental appreciation to investors investing in the north within 12-24 months. The metro will be the icing on the cake for the opportunity. Additionally, the metro line is along the Ring Road, thus providing a major opportunity to declutter traffic along the route,” Rao said.
