The most transformational infrastructure project for the Chandigarh capital region, the metro rail network promises to radically improve connectivity across the Tricity, comprising Chandigarh, Panchkula and Mohali. With Phase 1 spanning over 82 kms and 67 stations covering key locales, the metro aims to decongest traffic and enhance livability.

As we analyze metro route alignment details, it becomes evidently clear that areas set to gain metro access hold strong potential for real estate growth. Whether due to heightened physical connectivity or growing investor interest, property markets usually see an upswing around mass rapid transit corridors globally. As execution gathers steam in Tricity as well, let us examine key areas that shall transition into real estate hotspots.

Beginning with the Chandigarh municipal limits, the 12-km route with 11 stations connecting Sectors 39 and 26 shall allow the southern parts increased access to the CBD and North zones. Demand for residential plots and floors in condominium projects is likely to rise around stations like Transport Chowk, Dudhera and Industrial Area Phase 1. In fact, regions south of Madhya Marg may even see more integrated township projects now, given the upcoming metro linkage.

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The over 14-km underground route from the Sukhna Lake station near Sector 1 passing through key institutional centers like PGIMER, Panjab University and ISBT 43 holds major promise to ease East-West connectivity woes through intermediate stations like Rose Garden and Sector 42. As travel convenience between educational hubs/healthcare facilities and satellite towns rises, student housing and rental demand could see an inflection point.

The Chandigarh airport metro station on this line shall allow smoother access from not just Mohali but even Zirakpur and shall impact asset prices in proximity accordingly.

In effect, Sukhna to Airport stretch is set to emerge as a benchmark transit-oriented development corridor. For realty in Mohali near the metro, besides the airport station, highlights include the Quark City station near Longowal enroute to the airport and sectors like 71, 86 and 90 in later phases. Already an evolving residential hub, sectors adjoining metro stations should now see more plotted developments and premium condos from organized players. Likewise, stops like New Chandigarh and Transport Nagar shall boost attractiveness of their respective vicinities.

In similar vein for Panchkula, besides committed routes of Mansa Devi Complex to Sector 5 and 24, strong property development is envisaged around latter phases like Pinjore and Kalka. Expected commercial development around metro stations even beyond Phase 1 like IT Park, shall ultimately expand the breadth of cybercity into new micro-markets.

Thus, it becomes amply evident that metro access shall dramatically boost attractiveness of key corridors spanning Chandigarh’s urban spread into its peripheral towns. Increased livability and connectivity to employment hubs holds potential for an uptick in end-user demand while also piquing investor interest. Factoring in proposed route extensions, emerging locales beyond established pockets start showing serious promise to transform into self-sustaining micro-markets. Early spotting of such regions including through data analytics shall be crucial to identify growth trajectories.

So, for developers as well as land owners, factoring in the metro variable becomes pivotal not just to capital allocation but also designing projects aligned to future infrastructure. As mobility redefines accessibility parameters and regulatory changes like single-window clearance catalyze integrated developments, the metro heralds opportunities to activate new catchments with demand-centric planning. From township projects to premium condominiums, product orientations shall require recalibration to ride the next growth wave on the metro rails!

The big picture suggests that as metro phases progress, they shall truly unlock real estate’s next frontiers across the entire capital region!

(By LC Mittal, Director, Motia Group. Views are personal)