35-year old, Vinay Pratap, a software engineer by profession is a resident of Prakash Nagar Hyderabad. Hailing from a middle-class background, he works in an IT firm in Hi-tech city which takes almost three hours of work commute daily. With the commencement of the new metro line, he saves travel time, cost and is soon planning to buy a residential property in Hyderabad near the metro.
Hyderabad’s recently inaugurated metro line between Ameerpet and HITEC City is one of the city’s infrastructural developments, benefitting not only the commuters but also the city in all. The start of this line has helped ease the traffic on the roads and given a boost to the realty sector especially in the key areas falling on this route.
Ameerpet station is developed as an interchange station for the green and red line metro respectively. The line between Ameerpet and Hi-tech City comprises nine stations namely- Ameerpet, Madhura Nagar, Yousufguda, Jubilee Hills Road No. 5, Jubilee Hills Checkpost, Peddamma Temple, Madhapur, DurgamCheruvu, Hitec City.
Impact on the Real Estate Market
One of the busiest stretches, this route includes some of the key realty hotbeds of Hyderabad city. The real estate market of these areas has already gained impetus among the home buyers due to connectivity and well-developed infrastructure and is only expected to rise with further development.
Let’s understand about the benefits of investing in residential property near metro rail corridors.
- The capital values of residential properties in Hyderabad along the metro corridor is only expected to appreciate in the coming years. In Miyapur and Kukatpally, the capital values increased by 4-6% in the year 2017 compared to 2016.
- The rental values in Kondapur and Hitec City areas in also went up by about 6-8% Quarter ending Dec 2017 as compared to Quarter ending Sep 2017.
- Residential properties that launch around the metro corridors have massive offers and discounts running, which gives the buyer an advantage, and many options to choose from.
- With further development of the metro line, the value of properties only appreciates, and the buyers get a good return on investment.
- For buyers looking for residential properties in Hyderabad for personal use, the areas along the metro corridor can prove to be a great investment due to excellent connectivity.
- The metro rail project encourages multimodal public transportation with urban spaces making the city clean and green cities.
- Beyond the reasonable cost of living, developing urban infrastructure, and less crowded than other metros, the strategic connectivity provided by metro rail boosts the image of the city.
- The metro rail connects offices, retail and residential areas. This has encouraged many of builders and new buyers to get a residential and commercial property around the metro corridors.
For many like Vinay Pratap, are avoiding the company cabs and other public transport and switched to the Metro. This development in the city is a huge boon and has largely benefitted the commuters as well as the Real Estate market.