Cabinet’s approval of two Delhi Metro corridors to impact real estate markets

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The Union cabinet’s approval of two new Delhi Metro corridors will not only provide improved connectivity and address the growing congestion in the city, it is also expected to reinvigorate the real estate markets along the Lajpat Nagar to Saket G-Block and Inderlok to Indraprastha routes.

The Union cabinet’s approval of two new Delhi Metro corridors will not only provide improved connectivity and address the growing congestion in the city, it is also expected to reinvigorate the real estate markets along these routes. (Picture for representational purposes only) (Photo by Sakib Ali /Hindustan Times)
The Union cabinet’s approval of two new Delhi Metro corridors will not only provide improved connectivity and address the growing congestion in the city, it is also expected to reinvigorate the real estate markets along these routes. (Picture for representational purposes only) (Photo by Sakib Ali /Hindustan Times)

Also Read: Union Cabinet approves two new Delhi Metro corridors

Real estate experts say that improved connectivity has the tendency to make locations more desirable for redevelopment as well as investments, both commercial and residential. Property values may increase further in the vicinity of the metro stations which in this case are established markets.

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About the two Metro corridors

The Union Cabinet on March 13 approved two new corridors of Delhi Metro’s Phase-IV project – Lajpat Nagar to Saket G-Block and Inderlok to Indraprastha, Union Minister Anurag Thakur said. The total project cost of the two corridors is estimated at 8,399 crore, which will be sourced from the Union and Delhi governments, and international funding agencies. These two lines will comprise 20.762 km.

Also Read: Gurugram Metro: Here are the sectors which may see the maximum price impact

The Lajpat Nagar to Saket G-Block Metro corridor will be about 8.4 kilometer. The entire corridor will be elevated and will have eight stations. The corridor will connect the Silver, Magenta, Pink and Violet Lines of Delhi Metro Rail Corporation(DMRC). The eight stations include Lajpat Nagar, Andrews Ganj, Greater Kailash – 1, Chirag Delhi, Pushpa Bhawan, Saket District Centre, Pushp Vihar, Saket G – Block.

The second metro corridor is from Inderlok to Indraprastha. This stretch of metro line will be about 12.4 kilometers. The 11.35 kilometer of this corridor will be underground and 1.028 kilometer of elevated stretch will comprise 10 stations.

These include Inderlok, Daya Basti, Sarai Rohilla, Ajmal Khan Park, Nabi Karim, New Delhi, LNJP Hospital, Delhi Gate, Delhi Sachivalaya and Indraprastha. The Inderlok – Indraprastha Line will provide enhanced connectivity to the Bahadurgarh region of Haryana as commuters from these areas will be able to travel on the Green Line to directly reach Indraprastha as well as various other areas of central and east Delhi.

Eight new interchange stations will come up on these corridors at Inderlok, Nabi Karim, New Delhi, Delhi Gate, Indraprastha, Lajpat Nagar, Chirag Dilli and Saket G Block. These stations will significantly improve the interconnectivity among all the operational lines of the Delhi Metro network.

The Delhi Metro is already constructing a network of 65 kilometers as part of its fourth phase of expansion. These new corridors are expected to be completed by March 2026 in stages. Presently, the DMRC operates a network of 391 kilometers consisting of 286 stations.

Improved connectivity to make real estate markets desirable for investments

“The established real estate markets in Delhi NCR stand to be greatly impacted in a number of ways. Improved connectivity has the tendency to make locations more desirable for investments, both commercial and residential,” said Santhosh Kumar, Vice Chairman – ANAROCK Group.

“Property values tend to soar in the vicinity of metro stations because of the ease of access and shorter commutes that come with being close to public transportation. This can cause a domino effect, with rising demand pushing up real estate costs not only in the immediate area but also in the areas around it,” he said.

Improved accessibility and foot traffic in these Metro links will boost economic activity and draw stores and companies to these neighborhoods. The real estate market will gain from this commercial growth and may also witness residential demand in areas close to places of employment, he said.

Gentrification and urban regeneration in the surrounding neighborhoods are frequently the results of infrastructure developments such as these because they improve people’s quality of life overall, drawing in affluent residents and promoting the development of luxury residential and commercial projects, he added.

Expected to reduce commute time to adjoining office market hotspots within Gurugram and Noida

This decision will revitalize the real estate landscape of catchment areas in the long term. Once operational, the corridors stretching from Lajpat Nagar to Saket G-Block and Inderlok to Indraprastha will reduce commute time to adjoining office market hotspots within Gurugram and Noida.

This in turn will further improve the ability of MNCs to tap skilled talent across Delhi NCR region. Furthermore, average residential capital values in prominent localities of Lajpat Nagar, Saket, Rohini and Pitampura will witness healthy growth in the next few years making them attractive for investors with strong affinity for residential assets, said Vimal Nadar, Senior Director & Head, Research at Colliers India.

Lead to redevelopment activity

Also Read: Here’s how metro projects in multiple cities will impact real estate markets

According to Hitesh Vaidya, formerly with The National Institute of Urban Affairs (NIUA), construction of the new metro connectors are expected to lead to redevelopment activity in these already established real estate markets.

Agrees Mudassir Zaidi, Executive Director – North, Knight Frank, India. “With the green light given to the two metro connectors in Delhi, progress is not just on the tracks but in the landscape of opportunity. As these lines weave through the city, they are set to redefine not just transportation but also the skyline. The real estate sector nearby stands poised for a transformative boom. These connectors will travel through established markets and are expected to open up opportunities for redevelopment,” he said.

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