Metro corridors led to 15-20% rise in land prices in cities: JLL report
The deployment of the metro corridor directly impacts real estate sector as it increases land value, land use change and densification alongside the metro corridor. Also, mass transit systems such as metros and monorails significantly contribute towards solving traffic problems
NEW DELHI: Metro corridors led to a 15-20% rise in land prices, within 500 metres of such facilities, as per a report from JLL. A fall in cost of commute and improved job opportunities led to a 20-25% increase in commercial property prices, the report added.