“Patna” well-known capital city of Bihar. Talking about difficulties in Patna city. Transportation and communication problem is always there in Patna. But soon this problem will be solved. As the Patna Metro rail project officially started The Patna Metro rail project will be completed by 2021 as per the announcement. The total cost of the Patna Metro Rail project is 13,365. And the prime minister of India Mr, Narendra Modi set the foundation stone on February 17, 2019, to ensure its speedy completion. Patna Metro Project is constructing on PPP (Public-Private Partnership) mode. However, In September 2011, the planning commission of India gives the approval for the project of Patna metro rail. And the Impact of Patna metro on Real Estate Patna we will read further. The metro rail will be travel on two corridors by approx 2024. The first phase – East-West corridor and North-south corridor. In detail Danapur to Mithapur bus stand and Patna railway station to proposed ISBT.So, the Impact of Patna metro on real estate Patna is also important.
Patna Metro Project: Affect On Real Estate Patna.
All About Patna Metro Rail
The project is based on Public-Private Partnership. At first, On June 11th, 2013, The Bihar cabinet, approved the proposal to prepare a detailed project report (DPR) for the metro train service in Patna. According to the planned report project will be started.
On 17th June 2014, the planned Patna metro project received the green light. And The Metro Rail is expected to run on two corridors by 2024. They are East-West corridors and North-South corridors. Because Patna has a population of over 20.4 lakhs. so, it is eligible for the Metro rail service. Metro rail service will impact the people of Patna on a daily basis. And the problem of transportation will become history.
Details Of Corridors
The metro rail is expected to run two corridors by 2024. And they are East-West corridors and North-South corridors. So, In the first phase metro rail will travel from Danapur to Mithapur bus stand and Patna railway station,
Stoppage of First Phase Route
Route 1– Danapur-Shatabdi smarak – Rupaspura-Raja Bazar- Golf Club – Patna Zoo – Visvesvarayan Bhawan – Vidyut Bhawan- Patna Junction- Mithapur Bus Stand.
Route 2- Patna Junction -Aakashwani- Gandhi Maidan- Patna medical college and hospital- Patna University – Premchand Rangshala- Rajendranagar terminal- NMCH – Kumharar- Gandhi Setu Zero Mile ISBT.
Stoppage Of Second Phase
Again, In the second phase, metro rail services will be travel between Bypass Chowk Mithapur to Deedarganj via Transport Nagar. Along NH 30 Bypass (13 km) Elevated along Bypass Road.
Route 3: Mithapur Chowk – Lohia Nagar- Kankarbagh- Income Tax Colony- Zero mile- Choti Pahari – Ranipur- Ranipur Chak- Check Post – Guru Ka Bagh
Stoppage of The Third Phase
In the third phase from Bypass Chowk Mithapur to Phulwari Shariff AIIMS.
Route 4 : Bypass Chowk – Jay Prakash Nagar – Dasratha -Setu Nagar – Chitkohra – Patna Secretariat – Anishabad – Haroon Nagar (Khoja Imali) – Patna Airport – Phulwari Sharif – Hadaspura – Nosha – AIIMS Patna – Kurji.
Affect Of Metro Rail In Real Estate
After the completion of the metro in Patna, the means of transportation will increase. Because of the increase in transportation, the demand for Real estate property will increase automatically. And We can take the example of a few cities also like Delhi, Kolkata, Chennai, etc. And due to the metro facilities, the price of the property will also increase. Because of fast transportation, Mostly people Purchase the property near the metro so that they may not face the hindrance of traveling. And can enjoy the ride.
All About Affect of Metro Rail In Real Estate Patna
After the completion of Metro Rail in Patna, the value of the property will fastly increase. Because of the fast transportation facility. As many other projects are also on hold. which will also increase the value of properly. The lifestyle of Patna city people will totally change after becoming a metro city. Metro city will also attract many investors from outside so that they can invest and increase their business. The government of Patna has already announced various projects which will soon start after the completion of Metro Rail. The government will also pay the high price to the landlords for various upcoming projects. Which will also attract the people from outside.so, the return of investment from the real estate will be high.
After the official announcement of the metro rail project, most of the other projects are also in the pipeline.which will also increase the value of properties in Patna. so, if you are planning to buy the real estate property in Patna, then this is the correct time to invest. so, that you will get a good amount of return.