The eagerly anticipated metro line connecting Challaghatta and Whitefield is set to commence operations on October 9th, according to officials at Bangalore Metro Rail Corporation Limited. This development will provide transportation to an area that was once suburban but has now become part of the city.
The Purple Line, which connects Kengeri in the southwest to the IT hub Whitefield, has passed a safety audit after completing the Krishnarajapuram-Baiyappanahalli and Kengeri-Challaghatta stretches. These stretches form part of the Purple Line, which will significantly improve connectivity in the city.
One of the critical benefits of the Purple Line is that it will connect the western parts of Kengeri township and the eastern IT corridor to the central business district of MG Road. Real estate brokers predict that this boost in connectivity will have a knock-on effect on apartment rentals and capital prices, with increases of 10-15 percent expected along the metro route.
The completed metro corridor will link Kengeri in the western part of the city to the eastern IT corridor of Whitefield. The stretch, which was inaugurated by Prime Minister Narendra Modi on March 25, measures 13.7 km, and the maximum travel time is about 25-30 minutes, with a maximum fare of Rs 35. The line travels across Old Madras Road, connecting most of the major tech parks in Whitefield.
Affordable areas will no longer ve affordable once Metro is in place
Several areas along the metro line, such as KR Pura, Mahadevapura, Kundalahalli, and Adugodi, have seen a significant surge in real estate prices since the line was announced. According to local brokers, real estate prices in prime areas along the route have jumped by 10 percent, and with the news of the complete line being operational soon, landlords and apartment owners have started hiking the prices again. For instance, in KR Pura, a property that was listed for Rs 1 crore is now being offered at Rs 1.2 crore, whereas units that were selling at Rs 1.3 crore in the same area are now being listed at Rs 1.7 crore.
Furthermore, Kengeri township, known for being the most affordable real estate market in the city, is expected to start seeing appreciation in both real estate and capital values. Apartment prices that were fixed at Rs 4,800 per sq ft are now being sold at Rs 6,200 per sq ft. In Whitefield, which is already one of the prime areas, the inventory available has decreased sharply, and a villa that was listed at Rs 3.9 crore four weeks ago has more than 20 buyers waiting to freeze the deal, and some are willing to buy at a higher price.
Moreover, according to experts, the metro connectivity will have effects beyond the line’s immediate catchment area, and the outskirts of KR Pura and Whitefield will start seeing more demand. Real estate prices in areas like Hoskote and Budigere Cross are expected to increase in the next few quarters. Other micro-areas like Hoodi, Nallurahalli, and Hope Farm, close to the metro line, have become growing real estate pockets in the eastern suburbs. Experts suggest that the micro-market offers relocation and expansion opportunities, as the rents here are about 30 percent lower than the Bengaluru average.
Finally, brokers recommend investing in the stretch between KR Pura and Mahadevapura, which is a promising location. Narasapura, close to KR Pura, abuts the new Chennai-Bengaluru Expressway. Hoskote, which is witnessing major plotted development, is also close to this area. In suburban areas like Hoodi, close to Mahadevapura and Kundalahalli, the purchase price of a premium property has already touched Rs 1.3 crore and is expected to see further appreciation. Likewise, in Kundalahalli, the monthly rent for a property starts at Rs 60,000, and rates are lower in places like Kadugodi, where rent for a property starts at about Rs 25,000.
