Phase 3 of Namma Metro expected to boost property prices by 30% around connected areas

According to the real estate consultants the phase 3 of the Bengaluru Metro Rail Project will severely boost the property prices in select localities by over 30%.

Manoj Agarwal, founder of Agarwal Estates said, “The news itself will jack up prices by 10%. Developers will increase prices for projects located along the two lines in 1-3 months.”

Another builder Bhavesh Kothari, Founder and CEO, Property First Realty said “Investors may start purchasing properties in anticipation of the metro’s completion, potentially driving prices up even before construction begins. This speculative activity is common in areas where development is expected to significantly improve connectivity and accessibility.”

The realty experts are saying that, Phase 3 of the Bangalore Metro Rail Project added that, the construction of these two elevated corridors spanning 44.65 km will cost an estimated price of Rs.15,611 crore. It is ordered to be operational by 2029.

The first corridor will extend 32.15 km from JP Nagar 4th Phase in South Bengaluru to Kempapura in the North, following the Outer Ring Road West and including 21 stations.

The second corridor will cover 12.5 km from Hosahalli to Kadabagere along Magadi Road in West Bengaluru, featuring nine stations.

Senior Director and Head, Research at Colliers India, Vimal Nadar said, “other than perceptible benefits to the industrial and warehousing segment in Western Bengaluru and commercial real estate in IT pockets along ORR, real estate investors should benefit from significant property price appreciation once metro construction work gains momentum.”

After the successful completion of Phase 3 Bengaluru will have an active metro rail network spanning across 220.2 km.

Kiran Kumar of Hanu Reddy Realty highlighted, localities such as JP Nagar, Hebbal and Kempapura have seen notable development alongside property price appreciation of 15-20% in the last two years. Easy land availability poses a challenge here, going forward.

All the Phase 3 stations are strategically connected with dedicated bus bays, pick up and drop off bays, pedestrian paths and IPT/auto rickshaw stands enable passenger to transport smoothly and seamlessly.