In a recent development, Bihar CM Nitish Kumar has asked all the officials to expedite work on the Metro Rail project. On February 17, 2019, PM Narendra Modi laid the foundation stone of Patna metro project. It is said that the commencement of metro will not only boost the public transportation system of the city but will also transform the real estate market.
About Patna Metro
The project will be developed by the Patna Metro Rail Corporation and will be constructed on PPP mode. The project will be developed in two phases. Recently, urban development and housing department have given their presentation on the first phase of the project for which the CM has given its approval. The estimated expenditure of the phase-1 of the project will be Rs 13000 crore approx. CM has given a five-year deadline to complete the project.
Patna Metro: Phases
As said, the metro project will be developed in two phases:
Phase-1 will have two routes. The first route will have 11 stations starting from Danapur to Mithapur Bus Stand. The second route will start from Patna Junction and end at ISBT and will have 12 stations.
Phase-2 will have 10 stations that will start from Mithapur Chowk and end at Guru Ka Bagh.
Patna Metro: Phase-1 Routes
Route 1: Danapur- Mithapur corridor
This route will be 16.94-km-long and will connect the eastern and western areas of the city. The corridor will have a total of 11 stations of which 3 will be elevated and rest 8 will be underground. This metro corridor will pass from some of the most highly populated localities of the city like the Secretariat, Law University railway station, Raza Bazaar and High Court.
Route 2: Patna Junction- ISBT corridor
With a total of 12 stations, this corridor will boost connectivity between north and south parts of the city. The 14.45 km long route will have 9 elevated stations and 3 underground stations. The route will smoothen up connectivity between the city’s railway station and the bus station. Apart from this, the corridor will also connect the city’s major localities like Patna Medical Collage and Hospital (PMCH), Gandhi Maidan, Mahatma Gandhi Setu, and Patna University.
Impact on Real Estate Market
With the development of a thriving metro corridor, the property prices in the surrounding and adjacent localities will take a steep jump. The metro will pass from some of the prominent areas of the city thereby making a positive impact on the infrastructure and leading to an increase in prices of land as well as property.