Prime Minister Narendra Modi laid a foundation stone for the Gurugram Metro Rail Project, a project that will revolutionise the urban and economic landscape of Gurugram.
Elan Group MD Ravish Kapoor said: “The Prime Minister’s foundation stone-laying ceremony for the Gurgaon Metro project extension marks an important milestone in bolstering infrastructure and connectivity in the region. This is a crucial development for urban expansion and unlocks immense economic potential. The metro system is a powerful force that helps to drive the success and growth of commercial real estate in Gurgaon and the National Capital Region.
This project is a joint venture between the Haryana and Indian governments. It features a comprehensive 26,65-km loop metro extension that connects Huda City Metro Station (now Millennium City Centre Metro Station) with Cyber Hub. The project includes a vital 1.85-km spur leading to the Dwarka expressway. Total investment is Rs 5,452 Crore.
Vivek Singhal is the CEO of Smartworld Developers. He stated, “The convergence between economic activities, connectivity, and infrastructural developments has propelled Gurugram’s rapid growth, and urbanization and established it as a focus for national and multi-national corporations, industry leaders, and retail spaces. This development is complemented by the Gurugram Metro extension which will integrate different parts of Gurugram into the existing metro system, providing commuters with an efficient, environment-friendly transport system. The extended metro corridor is also expected to redefine urban travel and promote inclusivity, as well as spark demand for residential property and revitalize the commercial and retail sector, especially in previously underserved areas in Dwarka Expressway.”
The project was approved by the Union Cabinet on June 20, 2023. It demonstrates the government’s commitment to enhancing infrastructure and supporting Gurugram’s rapid urbanization. Gurugram Metro Rail is responsible for overseeing the transformational project. It will ensure its effective execution and contribute to Gurugram’s urban development.
Rahul Singla of Mapsko Group commented: “The foundation-stone laying ceremony for the Gurgaon Metro project extension signifies an important step forward in improving connectivity and infrastructure in this area. This is a major step forward for urban development and economic growth. The metro system is a catalyst for the growth and development of commercial real estate in Gurgaon and the surrounding areas. Its integration into the Delhi NCR network makes it a vital part of the city. It also improves urban life in Gurgaon for residents and tourists. This highlights the importance of connectivity.
Anarock’s recent report shows that residential property sales will increase by 13% in Gurugram, to 36,970 sold units, in 2023. Gurugram Metro Rail will likely accelerate this trend, drawing more buyers to areas like New Gurugram and Dwarka Expressway.
Kunal Rishi (COO of Paras Buildtech) said: “The Gurugram Metro Project is expected to contribute substantially to the economic growth of the state. This large-scale infrastructure project is not just about improving connectivity, but also about creating new business opportunities and investment prospects. We are excited about the growth and expansion of the region as Haryana becomes more popular for real estate investment. We are developers and we’re excited to see the impact the Gurugram Metro has on demand for residential property in the city. We expect a price increase in the areas near metro stations due to improved connectivity and increased commercial activity. Investors and property owners in Gurugram who already have invested are well-positioned to benefit from this. “We strongly believe that the Gurugram Metro is going to play a key role in the transformation of the region’s economy, new employment opportunities, and the growth of the infrastructure.”
Daily ridership is projected to increase to 7,26,000 by 2030, from 5,34,000 in 2026. By 2051, the number of daily riders is expected to reach 8,81,000-10.70,000.
Sorab Agarwal executive director of ACE added: “Gurgaon as the economic hub of Haryana attracts 70% total annual investment in Haryana.” It has been the catalyst of major infrastructure investment in Gurgaon, to meet rapid economic growth and population increase. A new metro link, with an investment exceeding Rs 5k crores, will build an efficient public transport system to meet the rapidly growing socio-economic base of the city. Ace has led the way in India’s infrastructure building for almost three decades. The metro extension in Gurgaon represents a significant step in the nation-building process.
“PM Modi’s opening of the new Gurugram metro line represents a major leap forward for urban development. Gurugram is a top destination for real estate investment because of its improved connectivity and transportation. This initiative will not only improve the quality of living for residents but also demonstrate the commitment of the government to infrastructure development. We expect a boom in demand for properties near the metro route. This will present lucrative growth and investment opportunities. The project is in line with Aman Sharma’s vision to create vibrant, accessible communities that cater to modern lifestyles.
This project promises to revolutionize urban connectivity and infrastructure. It will also open up new avenues for investment in real estate and growth. Gurugram will become a sought-after destination for homebuyers as well as investors with the improvement of its transportation networks. We are excited to play a role in defining the skyline of the city and contributing to its growth and prosperity. This transformational venture is in line with Alphacorp’s commitment to building dynamic, eco-friendly communities that meet the changing needs of modern living,” stated Santosh Agarwal.
Abhishek Trehan said that infrastructure has played a crucial role in the evolution of Gurugram into a commercial hub and residential center. The proposed Gurugram Metro Rail is an important development in the upgrade of the city’s existing infrastructure. The project will connect the old Gurugram with the new Gurugram. This will bring two important sides of the town closer together, making it easier for commuters to get around, and improving the public transportation system. The proposed metro project will cover the city’s main business hub as well as key micro-markets. This will be a game changer for Gurugram’s property market. The city’s improving infrastructure is a positive sign for its commercial sector. Demand for Grade-A office space in Gurugram, as well as the emerging corridors, has been increasing each quarter. Leasing activity has also increased. The new metro corridor will likely influence the commercial sector and increase demand for residential properties in the area. This will open up new opportunities for real estate development and transform the face of Gurugram forever.
Ashish Sharma (AVP Operations, Brahma) said: “The launch and completion of the Gurugram Metro project connecting Millennium City Centre Metro Station to Cyber City marks an important milestone in the development of infrastructure in the city. The expansion of the metro system in the city is expected to improve connectivity and accessibility within and around the area. Infrastructure development has a positive impact on both the corporate and real estate sectors. The metro line connecting the two locations has made it easier for commuters to get around and is expected to fuel the growth of the city and its economy. This will also have a positive impact on the growth of the area, resulting in new opportunities for the real estate sector. The region will become more attractive for commercial purposes and attract investment, stimulating growth in the real-estate sector. The upgrade of public transport reflects Gurugram’s commitment to modernizing infrastructure to meet the needs of an ever-growing population, and to strengthen its position as a prominent commercial and economic hub in the area.
The visionary Gurugram Metro Rail Project has laid the foundation for a new era of connectivity and prosperity in real estate.