Bangalore is witnessing an alarming increase in floating population. The city is overburdened and the infrastructure is challenged. Traffic congestion and inadequate means of public transport is the biggest problem of the city. To ease the roads and to reduce the commuting time Metro Rail is coming to Bangalore and by 2011 the first phase is expected to complete.
Bangalore Mass Rapid Transit Ltd (BMRTL) has initiated the project. Amount of Rs 6,325crore is invested to complete first phase of metro which will cover 33 km of distance. The metro rail is going to connect east-west and north-south of the city, included both underground and elevated tracks.
The project would link Kempegowda and BMTC bus stands and main Railway stations. The track would be underground in the vicinity of Vidhana Soudha, to preserve heritage sites.
Upcoming metro project will cover the bustling commercial and residential areas of the city. Bangalore real estate is discovering new growth avenues for development.
The East-West corridor will be 18.10 km. long, starting from Byappanahalli and terminating at Mysore Road terminal, going via Old Madras Road, Indiranagar, C.M.H. Road, Ulsoor, Trinity Circle, M.G. Road, Cricket Stadium, Vidhana Soudha, Central College, Majestic, City Railway Station, Magadi Road, Hosahalli, Vijayanagar and Deepanjali Nagar.
The 14.90 km. North-South corridor will begin at Yeshwantpur Terminal and terminate at R.V. Road terminal going via Mahalakshmi, Rajajinagar, Kuvempu Road, Malleswaram, Swastik, Majestic, Chikpet, City Market, K.R. Road, Lalbagh, South End Circle and Jayanagar.
Bangalore Real Estate values are escalating and the above mentioned areas are experiencing 15-20% rise in capital and rental values as compared to the others.
The State Government is further considering extending the metro rail to areas like whitefield and Madivala. Areas such as Whitefield and Madivala are cashing high on real estate values and are experiencing lot of real estate traffic. The real estate market is further going to witness a drift when the transport system will be spruced up.