Nov 18, 2013

Gurgaon Rapid Metro bolsters Commercial & Residential Property Prices



Gurgaon: The first privately funded Rapid Metro in India commenced its journey on Thursday in Gurgaon. The celebrations are not just for commutes but also for those residing close to the route or those who have property in the vicinity.

Of course, the Rapid Metro is a blessing for the residents of MG Road, DLF Phase II and III. Also, the metro route has bolstered prices of residential property in the areas between 35% and over 100% since the construction of the train began in 2010.

It is known that commercial property rates in DLF Cyber City have appreciated by 40% in the past three years. It is believed by various property traders and dealers that the bourgeoning of prices shall continue in these locations now owing to better connectivity.

If consultants are to be believed, not alone travellers but the companies lying in the vicinity of Rapid Metro shall reap benefits of the latest mode of transport in the area. The companies who were earlier incurring huge expenses pertaining to cab services will not provide their employees with metro card. This shall help the companies save from Rs. 2,500 to Rs. 3,000 per employee a month.

The connectivity within Cyber City is now boosted with first phase of Rapid Metro running on route Sikanderpur–DLF Phase III. The 5.1 km long track stretched though 6 stations is expected to cater 50,000 passengers daily.

SOURCE..RAIL NEWS

Maha Govt determined to fast-track CST-Panvel Rail Corridor



MUMBAI: The Maharashtra government is eager to fast-track the high-speed railway network from CST to Panvel as the decks slowly clear for the Navi Mumbai international airport and the Churchgate-Virar rail corridor gets pushed to the brink of abandonment.

The state wants to provide connectivity to the planned Navi Mumbai airport from south Mumbai through the CST-Panvel corridor by building an 8.5-km loop line via Seawoods. “The project is very much on the agenda of the government,” said Mumbai Railway Vikas Corporation (MRVC) Managing Director Rakesh Saksena.

MRVC officials met the state chief secretary and urban development department bureaucrats on Friday to discuss the status of various proposals for Mumbai. During this meet, they received “positive feedback” on the CST-Panvel project, the officials said.

The MRVC has already submitted a draft of the State Support Agreement, which once signed will clear the way for the invitation of project bids. “The government is keen to sign the State Support Agreement for the CST-Panvel corridor. We do not mind if this gets priority over the Churchgate-Virar elevated route,” a railway board official said.

The CST-Panvel corridor will be executed by the MRVC, which is a joint venture of the Maharashtra government and the Union railway ministry; this means that the state would have a significant say in the project’s planning and execution.

By contrast, the Churchgate-Virar corridor was to be executed by the railway board with the state playingfacilitator. The government was to allocate FSI to allow the concessionaire to commercially exploit the space above railway land. It was also required to ensure that the concessionaire gets the right of way in time-bound manner by shifting utilities, removing encroachments and managing traffic.

In any event, the Churchgate-Virar project is now on the backburner, with the state seeking a fresh traffic survey for it in view of the fact that the MMRDA has invited bids for Metro-III, whose alignment is similar to the elevated corridor on a significant stretch.
SOURCE..RAIL NEWS

 

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