The metro route system of the capital city is no way going to end its extension anytime soon. A tremendous amount of development has already undergone and the convenience of travelling has been experienced beyond expectation by the people living in the city. Out of the four-phase network, phases one and two of the metro routes are already operational. These two operational phases consist of six lines that span across the entire city, and additional lines are under-process.
The Commencement of the Grey Line in Delhi Metro
Earlier, phase 3 and phase 4, which were left untouched are now undergoing construction. Phase 3 will be known by the name 'Grey Line'. As per the official reports, 90% of the construction work of the Grey Line has already been completed along with the running of security test and final touch to stations going side by side. Delhi Metro Rail Corporation (DMRC) is all set to introduce its Grey Line with full swing operation from the month of September of this year. This upcoming metro line is aimed to improve the last mile connectivity in the South-west part of Delhi by connecting Dwarka with Najafgarh.
Also Read: Nagpur Metro
Impact on Najafgarh Real Estate with Grey Line
Delhi metro's Grey Line is undeniably going to impact the Real Estate Market on a big scale. Geographically, Najafgarh lies in the outskirts of Delhi, and with not much development in connectivity, the place wasn't impressive enough to attract both property buyers and real estate developers. Till now, Najafgarh majorly comprises of plotted lands in the form of residential developments, available in budget-friendly prices. With the announcement of a new metro corridor, the property prices of these plots are expected to rise as well as developers are eyeing big on constructing flats and other residential projects. Considering the nearby locations such as Dwarka, Uttam Nagar, and Nawada, the blue line metro route in these areas resulted in an increase in the price and demand of the properties. Likewise, Najafgarh is expected to see a similar kind of rise.
Dwarka's real estate will get a boost with Grey Line
Land rates as of now in the Najafgarh and surrounding villages have been priced below 6,000 per sq ft. The commencement of the Grey Line would give a boost to this land rate. The metro connectivity to the residents of Najafgarh will also give improved access to the rest of Delhi. Dwarka is already serving as a significant point to activities related to real estate in the capital region. The blue line metro where Dwarka falls actively serves a huge population of West Delhi. Its inclusion with one more new metro line will give an added advantage to the place by boosting housing demands more than before.
The overall Impact of Metro System in Delhi Real Estate
Delhi Metro Grey Line was originally expected to start in the year 2016. However, land acquisition problems delayed the project. The overall impact of the Delhi Metro has been a classic example of the rise of the real estate industry in the capital region. The commercial, industrial, and residential property in Delhi real estate have witnessed a powerful impact due to improved connectivity with the introduction of the metro system. The Grey Line is surely a boon to Dwarka-Najafgarh real estate.