The arrival of any transportation infrastructure propels the price of the properties in its proximity, and the Delhi Metro is the quintessential example of this. Besides from providing convenience and ease of connectivity to commuters, the proposed metro station at Mandi will also have a huge bearing on prices of the real estate properties in the vicinity.
The potential of the proposed metro station at Mandi skyrocketing and boosting the real estate values is immense. The impact of a Metro station on the real estate along its corridor is immediate and forceful. That’s a given as residential real estate areas benefit on account of improved accessibility as well the lessened travel expenses, which attracts home buyers to those localities close to the Metro. Moreover, the commercial properties also see an upsurge which results in employment generation in the area, which in turn results in greater demand for living spaces. In other words, improved transit ease draws up more employment possibilities, which in turn leads to amplification of demand for homes in the area.

This is backed by science, the relationship connecting ease of accessibility and land value is in the very spirit of urban economic theory. The theory foretells that cost of land is significantly determined by the connection between accessibility and transport cost. Infrastructure development also plays an influential role in the acceleration of land values. Accessibility improvement, in the form of public transportation, is found to have played a particularly substantial role in boosting the value of the land.

Nirman Vihar, Delhi a prominent residential area was one the real estate locations which benefitted on account of a metro addition to the area. The metro was introduced to the area on 27 th January of 2010 and price of the properties in that area arose from approx. Rs 4000 / sq. ft. in 2010 to Rs 7200 / sq. ft. in the middle of the year 2011 and kept on appreciating to reach Rs 8100 / sq. ft. in 2012. As you can see in less than just two years the price of the property in Nirman Vihar, Delhi doubled. Though a number of other factors can also be attributed to the price escalation, the impact of the metro line cannot be ignored.

Those pieces of land nearest to the stations fare higher in terms of value appreciation, especially ones within walking distance. In fact, the land within walking distance but not directly next to the station is valued higher.

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