East-West Metro Line 2

KMRC receives Approval of East-West Metro Line 2, Real Estate to boom in Kolkata

News

In a major development, the Kolkata Metro Rail Corporation (KMRC) recently informed that the railway Board has finally given their approval for the East-West Metro Line 2 in Kolkata. The stretch that will run between the Salt Lake Stadium and Salt Lake Sector V spans for a total of 5.5 km. All the routes in between this stretch are elevated.

According to a senior official from KMRC, “The Railway Board has provided the clearance subject to all RDSO (Research Design and Standards Organization) guidelines and conditions being adhered to. The final safety clearance will be provided after the above guidelines are met along with taking inputs from the railway safety commissioner and interim speed certification.”

For the first phase of development, KMRC has already lined up 9 rakes from (Bharat Earth Movers Limited) BEML, a Public Sector undertaking situated in Bengaluru. At present, the trial on the routes is in progress and it is expected to start by the end of April 2019 or early May 2019.

Impact on Real Estate Market

The East-West Metro Line 2 will start from Salt Lake Sector- V, which is a major IT hub in Kolkata. The region is surrounded by many new, emerging as well as popular residential localities like Rajarhat New Town, and Salt Lake, etc. So, it’s clear that once the route will become operational, it will definitely prove to be a game changer for the realty markets of these areas.

Both Salt Lake and Rajarhat in recent times have attracted many leading developers who are developing luxury, mid-segment and affordable projects here. There are many ready to move in housing units present in the area where people are already residing. The areas also have many planned and proposed infrastructural development underway which will further increase property rates in the coming few years. At present, the property price in Salt Lake and Rajarhat New Town is Rs 5,959 and 4,494 per sq.ft. respectively. Apart from this, due to the presence of IT hub, these areas will also see a boom in rental properties as well as become a good investment option to earn rental income.