Realty Prices High Around the Metro Routes in Delhi

A Metro station in a locality in Delhi pushes up prices by at least 22 per cent, according to a study. At the Urban Mobility Conference in the Capital, Professor H M Shivanand Swamy of the Centre for Environment Planning and Technology (CEPT) in Ahmedabad said that he has studied the impact of the Delhi Metro on real estate in three phases. “We researched the pre-construction phase (1990-1996), the under-construction phase (1996-2000) and the post-construction phase (2001-06) in Delhi. We found that property rates jumped significantly after the Metro began operations. There was only a slight increase in value in the two previous phases,” the CEPT’s associate director said. “In residential areas, land value within 500 metres of the Metro line increased by 11.3 per cent on average. In commercial areas, the land value within 500 metres increased by 18.1 per cent. The threshold value for residential properties is approximately up to 500 metres from the Metro line, whereas the limit increases to approximately 800 metres for commercial properties,” the study states.