Metro throws estate prices off track

Riding the Metro mood, property rates in developed localities in Gurgaon have escalated by 40-55 percent during last 3-4 months. The localities most affected are DLF city, Sushant Lok, Southcity and other HUDA sectors through which the Gurgaon Metro line passes.

Riding the Metro mood, property rates in developed localities in Gurgaon have escalated by 40-55 percent during last 3-4 months. The localities most affected are DLF city, Sushant Lok, Southcity and other HUDA sectors through which the Gurgaon Metro line passes.

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Many investors from India and abroad looking to make big bucks of the Metro boom.

Some of the end users scouting for properties in Gurgaon are those keen to sell off their Delhi lots and settle in Gurgaon, now that the town is better connected to Delhi and NCR.

Trilok Sharma of Basera Properties said that the price of plots in DLF City has shot up from Rs. 70,000 in November 2009 to Rs 1.10 lakh per sq yard in June 2010.

“The steep price hike has taken place in Gurgaon in last 4-5 months despite the fact that there has been no development on the infrastructure front.”