Undoubtedly, the Delhi Metro is an exemplary thing about the Capital City of India. It is the luxurious ride for the common man and carries more than around 24 lakh commuters on a daily basis. It has a total of 8 operational lines that connect different areas of New Delhi, Noida, and Gurgaon. Currently, there’s a brouhaha about the forthcoming Grey Line. DMRC is all set to expand the cobweb by officially operating the Grey Line in the forthcoming months. Its final work for connecting Dwarka-Najafgarh-Dhansa began in the month of January 2019. Apart from providing convenience to commuters, it will also have an impact on Delhi real estate. Read on and find out.
Dwarka-Najafgarh Metro Corridor
DMRC’s Grey Line is an extension of 4.295 km long Dwarka-Najafgarh metro corridor. It was to be commenced in the year 2016 but, due to land acquisition issues, the construction work was delayed to December 2017. It is aimed to be completed by December 2020. The tunneling of up and down lines of Dwarka-Najafgarh section is 90% complete and most probably, it will be officially inaugurated for the common public by September 2019. As per the reports, two out of three stations on Dwarka-Najafgarh metro corridor, will be elevated and one will have an interchange facility at Dwarka metro station on the Blue Line.
Impact on Delhi Real Estate
The construction of any transit infrastructure hikes the price of the properties in its vicinity, and undoubtedly, Delhi Metro is the classic example of this. Not only the commercial and industrial, but the residential sector of Delhi real estate witnesses a powerful impact due to improved connectivity. Moreover, better connectivity brings up more employment opportunities and increases demands for homes. The development of the vacant lands and spaces gains pace as the profit implication wings its way up. Let’s take a deep dive and excavate in detail.
Impact on Najafgarh Realty
In the year 2018, a route rationalization study was conducted by the transport ministry. It was conducted in order to gain a deeper insight into the connectivity provided by the feeder bus service in the Najafgarh area. It was an initiative taken to ensure that all remote areas are connected with a public transit facility at a distance of 500 meters at a frequency of 15 minutes. With the completion of the Grey Line metro, the rural area of Najafgarh will have improved access to the rest of New Delhi.
Impact on Dwarka Realty
Dwarka is cynosure to activities related to Delhi real estate. Since the Blue Line metro is already active in serving the population of West Delhi, its augmentation with the Grey Line will be an added advantage for boosting housing demands further.
It is assumed that when fully operational, Delhi Metro will make Dwarka sub-city one of the easily approachable locations in New Delhi. Moreover, it will also augment the Delhi real estate, especially in the areas like Najafgarh, Nangli, and Dhansa.