Localities like the Raja Garden, Rajouri Garden, Tilak Nagar and Janak Puri had lost their sheen as the commuting time from central parts of Delhi, like Connaught Place and Central Secretariat, to these places, had gone up to more than one and a half hours during peak hours, due to heavy traffic. Now, through the Metro Rail one can travel the same distance in 40 minutes.
Also, with the advent of Metro Rail, the load on road transport has reduced and the condition of road traffic has improved further. This has rejuvenated the entire West-Central Delhi, East-West Delhi and North-Central Delhi corridors. The potential of economic activity in these areas have improved substantially, which is reflected in the price of hotels and other commercial plots, auctioned recently by the DDA. Some of the hotel plots in Dwarka and Rohini peaked over Rs 3 lakh per sq m in the auction.
Areas located farthest from the central areas have benefited most by the improved connectivity due to Metro Rail. A case in point is Dwarka which has benefited most with the start of Metro Rail services. Till the announcement of the construction of Metro Rail line, there were hardly any takers for apartments. But, with announcement of the Metro project the price in the area has sky-rocketed from around Rs 13 lakh, for a three bedroom flat in 2003, to Rs 65 lakh at present . Rohini and Pitampura are other areas which witnessed price hike.
Similarly, better road connectivity of Noida, Indirapuram, and Greater Noida also had a salutary effect on the property prices, which is a reflection of the increased economic activity in the area. The region attracted huge inflow of IT and ITES offices, which fuelled the demand. High growth in IT and ITES has created demand for office space which is met by the development of the new areas. But, only those areas which have better connectivity are developing.
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