How will the Bangalore Metro Phase 3 impact the city and its property market?

The Union Cabinet, chaired by Prime Minister Narendra Modi, on August 16, 2024, approved the Bangalore Metro Phase-3 project. The project includes two elevated corridors spanning a length of 44.65 km, comprising 31 stations. This major expansion of the Bangalore Metro rail network is expected to bridge the connectivity gap between several key localities. Further, the project has become a key growth driver for real estate developments across different areas. As a result, property prices are expected to rise.

See also: Yellow line Bangalore metro route details and real estate impact

Bangalore Metro Phase 3 to add 44.65 km to the existing metro network

Phase 3 of the Bangalore Metro Rail Project represents a significant advancement in the city’s infrastructure development. Once operational, this will add two additional elevated corridors of 44.65 km, resulting in around 220.2 km of the active Bangalore Metro Rail Network. It has a completion cost of Rs 15,611 crore.

The work on the metro project will start in 2025 and continue into the mid-2030s. The project is expected to be completed by 2035. The detailed project report (DPR) of the Bangalore Metro Phase-3 project received approval from the Karnataka government in February 2018. The public sector consultancy company RITES took charge of the project in July 2020.

Bangalore Metro Phase 3 routes

The Bangalore Metro Phase 3 project is being developed in two phases – Phase 3A and Phase 3B.

Phase 3A: This phase will include two metro sections of 43 km, comprising 40 stations.

• Corridor-1 from JP Nagar to Kempapura, Hebbal: The route will start from JP Nagar Phase 4 (Orange Line) and move along the Outer Ring Road West and reach up to Kempapura in Hebbal. The metro line will cover a length of 32.15 km and include 22 stations.
• Corridor-2 from Hosahalli to Kadabagere (Dark Blue Line): The Hosahalli to Kadabagere, referred to as the Dark Blue Line, is a 12.5 km section that will move along the Magadi Road and comprise nine stations.

Phase 3B: This phase of Bangalore Metro Phase 3 will include the Red Line section from Sarjapur to Hebbal. The stretch will span a length of 36 km, including 17 km underground and 19 km above ground. This metro section will include 29 stations – 14 underground stations and 15 above-ground stations.

Bangalore Metro Phase 3 project map

Source: themetrorailguy.com

Bangalore Metro Phase 3 to connect far-flung localities and major commercial hubs

Phase-3 of Bangalore Metro aims to boost connectivity to various commercial centres, industrial hubs, educational institutions and healthcare facilities, enabling improved access for residents.

The Namma Metro Phase-3 project will connect the western peripherals of Bangalore with the Outer Ring Road and prominent localities in the Secondary Business District, including JP Nagar and Bannerghatta Road. The metro lines will integrate key commercial and industrial hubs such as Peenya Industrial Area, IT industries on Bannerghatta Road and Outer Ring Road, Textile and Engineering items manufacturing units on Tumkuru Road and ORR, Bharat Electronics Limited (BEL), major educational institutions such as PES University, Ambedkar College, Polytechnic College, KLE College, Dayanandsagar University, ITI, etc.

Phase-3 corridors will boost connectivity by linking the southern part of the city, Outer Ring Road West, Magadi Road and various neighbourhoods.

The upcoming metro project will offer direct connectivity to the airport and Outer Ring Road East as a continuous ring linking major IT clusters and various parts of the city. Commuters will have access to an affordable and environment-friendly mode of transportation. Once operational, the metro lines under Phase-3 will significantly reduce traffic congestion on arterial roads, including the Outer Ring Road West and Magadi Road.

Deepu, vice president, Full Basket Properties, shares “The Bangalore Metro Phase 3 project will have a huge positive impact on the connectivity. The roads in many parts of the city are congested and the metro is expected to ease the traffic situation for the residents.”

Multi-modal connectivity planned under Bangalore Metro Phase 3

According to the government, multi-modal integration has been planned at 10 locations – JP Nagar 4^th Phase, JP Nagar, Kamakya, Mysore Road, Sumanahalli, Peenya, BEL Circle, Hebbal, Kempapura, Hosahalli. The metro lines will provide interchanges with existing and under-construction metro stations, BMTC Bus stands, Indian railway stations and the proposed suburban (K-RIDE) stations.

All the stations under the Namma Metro Phase-3 have been planned to have dedicated bus bays, pick-up and drop-off bays, pedestrian paths and IPT/auto rickshaw stands. The Bengaluru Metropolitan Transport Corporation (BMTC) is already running feeder buses to the operational metro stations and these services will be extended to the Phase-3 stations. Parking facilities have been provided at 11 key stations.  The existing metro stations of Bangalore Metro Phase-1 and Phase-2 are integrated with proposed stations of Phase-3. There will be direct connectivity through FoBs/skywalks to two railway stations at Lottegollahali and Hebbal. At Phase-3 metro stations, provision for bikes and cycle sharing facilities have also been provided.

Bangalore Metro Phase 3 to steer economic growth

The upcoming Phase-3 metro project will contribute to the overall economic growth of the city. Faster commuting for citizens and improved access to their destinations will enhance productivity by enabling individuals to reach their workplaces more efficiently. In addition to this, the infrastructure project will steer growth for local businesses, especially along the metro routes. This will attract investments and result in development in the previously less accessible areas.

How will Bangalore Metro Phase 3 impact the property market?

Besides serving as a lifeline for commuters, the Bangalore Metro Phase 3 project is set to transform the real estate landscape of the city. Prominent localities such as JP Nagar, Hebbal, Sarjapur, Hosahalli and Kadabagere have witnessed growth in real estate developments, attracting investors and end-users.

Industrial and employment hubs such as Peenya Industrial Area, Bannerghatta Road, Outer Ring Road, Tumkuru Road, etc. have already seen increased activities in the sector. As the development of the metro project picks up pace, property values are expected to see an uptick in the coming years. The progress of the Bangalore Metro phase-3 project will signal positive growth for the city’s real estate market.

Raja Qureshi, MD, Newdoor Ventures, said “The upcoming Bangalore Metro corridor is one of the main reasons buyers want to invest in properties. The metro project, along with the airport project and other developments, have positively impacted the localities in north Bangalore, especially the Airport Road and KIADB Aerospace in Bagalur. In the recent two years, property prices have increased to about Rs 2,000 – Rs 5,000 per sqft. Properties earlier available for Rs 3,000 per sqft now have a price of Rs 8,000 per sqft. The price increase in some areas has more than doubled.”

Qureshi highlighted another noteworthy trend in the property market, “Buyers prefer compact homes. So, builders are coming up with flats of a maximum of 1150 sqft. New projects are coming up in key neighbourhoods such as Devanhalli and Hoshahalli.”

“The airport line on the Bangalore Metro is driving real estate growth. Several IT companies, manufacturing companies and malls are coming up. North Bangalore is better planned than other parts of Bangalore. The upcoming metro will further enhance the connectivity in the region”, he said.

Talking about the residential properties, Deepu said “There are several apartment complexes coming up along the route. Mysore Road, in particular, has seen tremendous growth in prices. Similarly, the prices in Kanakapura Road have gone up from around Rs 7,500-8,000 per sqft in 2022 to Rs 12,000 per sqft today.”

Top localities near Bangalore Metro Phase 3

Bangalore Metro Phase 3 latest news updates

BMRCL to close finalising land acquisition plan for Bangalore Metro Phase 3

The Bangalore Metro Rail Corporation Limited (BMRCL) is close to finalising the land plan for the bulk of Phase 3.

In the initial stages, 100 acre of land have been earmarked. There are plans for a depot and viaducts on the specific corridor stretches. As per officials, a joint survey of the identified properties is expected to begin.

The finance department recently gave approval for the initiation of land acquisition, emphasising the need for obtaining the state cabinet’s approval before compensating affected landowners. An area of 75 acre of the designated 100 acre will be allotted for building a depot near Byadarahalli police station on Magadi Road. This is set to become the second-largest metro depot after Peenya. Further, 25 acres of land have been identified for viaduct construction.

Housing.com News Viewpoint

Any infrastructure project will likely steer increased economic activities in the surrounding region, generating employment opportunities and attracting new investments. The upcoming Bangalore Metro phase-3 project will have a similar impact on the city while providing enhanced access to commuters. Further, the expansion of the existing metro network will improve connectivity for the residents, who can easily commute to their workplaces. This will attract more home seekers in the localities around the metro corridor, generating more demand for properties. Thus, the coming years present a favourable opportunity for new buyers. Besides, one choose to buy a property near the metro project for investment purpose as the property prices are likely to appreciate in future.

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