Bangalore: Three years of Namma Metro has also brought about development in the real estate along the route.
According to the Suresh Hari, Secretary, Bangalore chapter of Confederation of Real Estate Developers Association of India, the commercial and retail real estate along the metro route has received a huge fillip as the Floor Area Ratio (FAR) has been increased from 3.2 to 4 in a radius of three kilometres of stations. The completion of important links will have an economic impact, he said in a release.
“Residential properties around metro stations have also seen a huge rise in demand and the resale value of existing residential properties in the vicinity has appreciated by nearly 30 to 35 per cent in the last three years,” said Brigade Group’s Vice President (Sales and Marketing) Viswa Prathap Desu, in the release.
Once the metro is completed, property prices along these corridors would appreciate depending on the proximity, he added.