PM Modi Launches Kolkata Metro Corridors: Real Estate Market to Benefit

Prime Minister Narendra Modi's inauguration of key stretches of the Green, Orange, and Yellow metro lines in Kolkata is expected to boost the city’s real estate sector, with experts projecting a 5% rise in property values.

Real EstateKolkataMetroProperty ValuesConnectivityReal Estate NewsAug 22, 2025

PM Modi Launches Kolkata Metro Corridors: Real Estate Market to Benefit

Real Estate News:With Prime Minister Narendra Modi inaugurating key stretches of the Green, Orange, and Yellow metro lines on August 22, experts say Kolkata’s real estate sector is set for a boost. The metro expansion is expected to drive at least a 5% rise in property values in the eastern and southern regions in the short to long term, they say.

Launched just ahead of Durga Puja, the extended network will improve connectivity to the airport and IT corridor while making citywide travel more convenient, further fuelling housing demand and price growth, they say.

The new stretches cover Sealdah to Esplanade (2.45 km), Noapara to Jaihind Bimanbandar (6.77 km), and Hemanta Mukhopadhyay to Beleghata (4.39 km) across three different Kolkata Metro corridors.

The Green Line extension will connect Howrah Maidan to Salt Lake Sector 5, forming a key east-west corridor that links Howrah railway station with Kolkata’s growing IT and commercial hub in Salt Lake Sector 5. Experts say this line will significantly cut travel time, reduce reliance on road transport, and boost residential demand in Salt Lake, New Town, and nearby areas.

The Orange Line stretch will run from Hemanta Mukhopadhyay Metro station at Ruby Crossing to Beleghata, enhancing connectivity in the city’s southern and eastern regions. For real estate, this line is expected to spur new interest in areas along the EM Bypass, where residential and retail projects are already expanding.

The Yellow Line covers a 6.77 km stretch with four stations: Noapara, Dum Dum Cantonment, Jessore Road, and Jai Hind Bimanbandar. It provides Kolkata’s first direct metro link to the airport, a development for both commuters and tourists.

Kolkata’s metro expansion may lead to real estate growth, with its impact becoming increasingly visible as key corridors begin to connect the city’s peripheries, experts pointed out. Saket Mohta, managing director of Merlin Group, said the new lines will catapult residential sales to new highs, particularly in the suburbs where homes are more affordable. He said that connectivity will not only link Howrah, North Kolkata, the Airport area, and EM Bypass to central Kolkata but also open up opportunities in far-off locations where people can now easily access healthcare, education, and other facilities.

Experts suggest that the price of peripheral areas in the southern bypass and beyond is also likely to go up. “It will especially see growth in the launch of new projects in North Kolkata. However, availability of suitable land in North Kolkata will be a question. But the greater part of Kolkata, like Sodepur, Kamarhati, and Titagarh segment, will be impacted with this new metro line connectivity through Noapara and up to the existing metro line to Dakhnieswar,” Mohta said.

Most of these areas were earlier dotted with medium and large industries, many of which are closed and are lying unutilised; a suitable government policy can make these lands available for the development of housing and commercial real estate, he pointed out.

“Metro projects in Kolkata have been under construction for nearly 15–16 years, and while the image of the city’s potential was always there, the real impact will only be felt now as the lines become continuous and operational,” Biplap Kumar, president at NK Realtors, said. “Within a 2–3 km radius of metro stations, we can expect strong development activity.”

Howrah, traditionally considered on the far side of the city, is expected to see a major boost with direct connectivity to Sector V through the new east–west metro link. The new metro line is expected to cover a distance of about 20 km in just 12 minutes.

This will make Howrah far more accessible, and adjoining localities within 3–4 km will now witness real estate traction, Kumar explained. Premium residential projects are already emerging, with developments such as Ganga Riverfront apartments priced in the ₹2–3 crore bracket. “Where there is a distance from the riverfront, properties are trading closer to ₹1 crore,” he said.

The airport zone, long plagued by congestion and traffic bottlenecks, is also likely to transform with new metro connectivity. “Kaikhali, Jessore Road, and adjoining areas have significant land parcels available, and these will emerge as new growth pockets,” Kumar said.

Property prices in these locations range between ₹1–2 crore, with certain projects still available for under ₹1 crore, making them attractive for both mid-segment buyers and investors, he said.

Experts said the expansion of Kolkata’s metro network may lead to a 5% rise in property values near new corridors, with better connectivity linking the airport to key hubs like Salt Lake Sector V, New Town, Howrah, and Ruby Crossing.

According to Shrinivas Rao, FRICS, CEO of Vestian, these corridors will make suburban areas more attractive for both residents and businesses. “Better connectivity will encourage more people to live in emerging areas like New Town, Salt Lake, and North Kolkata, driving up property values. Commercial centres will also see greater absorption of office and retail space, while shorter commute times will accelerate the growth of mixed-use projects,” he noted.

In the city’s northeast, New Town and Rajarhat are evolving as organic growth corridors, supported by strong airport connectivity, road networks, and quality healthcare infrastructure.

“New Town is now positioning itself as a luxury housing hub, with projects starting at around ₹2 crore. In Rajarhat, homes on Rajarhat Road are available from ₹75 lakh onwards,” Kumar said.

Prashant Kumar Chaturvedi, city head, Kolkata at ANAROCK Group, said that metro access will help suburbs evolve into self-sustaining hubs. “These corridors are very important and fast-growing in terms of activity. Residential prices in Kolkata have been rising steadily at around 5–7%, while commercial price growth has been stronger, in the range of 8–10%. While property appreciation here may not be as steep as in some other metros, the momentum is clearly building,” he said.

Vivek Rathi, head of research at Knight Frank India, stressed that infrastructure plays a pivotal role in shaping real estate growth. He said the new metro lines would not only ease access to established centres like Salt Lake and Rajarhat but also unlock new opportunities in peripheral areas, establishing Kolkata’s position as an increasingly competitive real estate market.

Frequently Asked Questions

What are the new metro stretches inaugurated by PM Modi in Kolkata?

The new stretches inaugurated by PM Modi include the Green Line from Sealdah to Esplanade (2.45 km), the Orange Line from Hemanta Mukhopadhyay to Beleghata (4.39 km), and the Yellow Line from Noapara to Jaihind Bimanbandar (6.77 km).

How is the metro expansion expected to impact property values in Kolkata?

Experts project a 5% rise in property values in the eastern and southern regions of Kolkata, driven by improved connectivity and reduced travel times.

Which areas are expected to see significant real estate growth due to the new metro lines?

Areas like Salt Lake, New Town, Howrah, and the airport zone are expected to see significant real estate growth, with new projects and increased property values.

How will the new metro lines affect commercial and residential properties?

The new metro lines will likely increase the absorption of office and retail space, making suburban areas more attractive for both residents and businesses, and driving up property values.

What is the expected impact of the new metro lines on Howrah and the airport zone?

Howrah will become more accessible, and the airport zone will transform with reduced congestion and traffic bottlenecks, leading to the emergence of new growth pockets.