Kolkata’s property market is expected to benefit as Prime Minister Narendra Modi is scheduled to inaugurate new stretches of the city’s metro network on August 22. The expansion covers three key corridors, the Green, Orange, and Yellow lines,connecting major commercial, residential, and airport areas. Industry experts anticipate that this development will have a significant impact on real estate demand and property values, particularly along IT and commercial hubs.
The new stretches include Sealdah to Esplanade (2.45 km), Noapara to Jai Hind Bimanbandar (6.77 km), and Hemanta Mukhopadhyay to Beleghata (4.39 km). The Noapara-Jai Hind Bimanbandar section will provide direct access to the Netaji Subhas Chandra Bose International Airport, enhancing connectivity for both residents and business travelers. The Sealdah-Esplanade stretch is projected to reduce travel time from nearly 40 minutes to just 11 minutes, according to Kolkata Metro authorities. The Beleghata-Hemanta Mukhopadhyay link will improve accessibility to IT and business hubs in the city.
Real estate analysts note that infrastructure projects, particularly metro expansions, often drive residential and commercial property activity by reducing commute times and improving overall connectivity. Private sector developments, such as schools, hospitals, and retail spaces, complement this growth, but public investments in transit typically generate larger-scale market momentum.
Kolkata’s commercial real estate sector has seen steady growth over the past three years, and the new metro corridors are expected to accelerate this trend. Salt Lake, Rajarhat, and New Town are projected to benefit the most, given their modern infrastructure and proximity to key business areas and the airport. Third-party IT service firms accounted for approximately 45% of office transactions in H1 2025, highlighting the city’s growing appeal as a technology hub, according to Knight Frank India data.
Joydeep Paul, Senior Director – Occupier Strategy and Solutions at Knight Frank India, observed that peripheral districts like Salt Lake City and Rajarhat are recording high office transaction volumes and rising rental premiums. He noted that this trend indicates Kolkata has successfully developed new business hubs rivaling traditional city centres, driven primarily by genuine business expansion in the technology sector rather than speculative activity.
Green Line Extension: Howrah Maidan to Salt Lake Sector 5
The Green Line extension will connect Howrah Maidan to Salt Lake Sector 5, creating a key east-west corridor linking Howrah railway station with Kolkata’s IT and commercial hubs. This route, touted as India’s first underwater metro segment, is expected to reduce travel dependence on road transport and boost residential demand in Salt Lake, New Town, and surrounding areas. Real estate activity in these localities is already increasing, with capital values for high-end residential properties in Salt Lake ranging from ₹7,000 to ₹9,000 per sq. ft., recording an 8% year-on-year growth, according to Cushman & Wakefield. Average monthly rents range between ₹38,000 and ₹68,000, also growing 8% annually. New Town and Rajarhat have seen mid-segment residential prices rise to ₹5,200–8,000 per sq. ft., with rents between ₹22,000 and ₹32,000 per month, reflecting similar annual appreciation.
Orange Line: Hemanta Mukhopadhyay to Beleghata
The Orange Line stretch links Hemanta Mukhopadhyay Metro station at Ruby Crossing to Beleghata. This corridor will strengthen connectivity in southern and eastern Kolkata and is expected to drive residential and retail growth along the EM Bypass, a dynamic corridor with ongoing developments. Q2 2025 data from Cushman & Wakefield indicate 9% year-on-year rental growth and 8–9% appreciation in capital values along EM Bypass. High-end residential properties in the area range between ₹8,000 and ₹14,000 per sq. ft., while mid-segment homes are priced ₹5,000–7,000 per sq. ft.
Yellow Line: Noapara to Jai Hind Bimanbandar (Airport)
The Yellow Line stretch, covering 6.77 km, will provide Kolkata’s first direct metro access to the airport. This link is expected to boost property demand in northern suburbs such as Dum Dum, reducing travel times to the airport and central Kolkata. The North Kolkata submarket, which includes Jessore Road, Ultadanga, Shyambazar, Bagbazar, Manicktala, and Dum Dum, has shown stable mid-segment property growth. Capital values are currently between ₹4,200 and ₹6,500 per sq. ft., with a 4% annual increase, while average monthly rents are ₹15,000–25,000, up 5% year-on-year.
Urban experts suggest that the inauguration of these metro lines will provide long-term value for both investors and residents, making peripheral areas more accessible and attractive. Improved connectivity is expected to accelerate commercial expansion and enhance the appeal of IT-focused districts. With Kolkata entering a phase of infrastructure-driven growth, the expanded metro network is poised to strengthen the city’s position as a competitive real estate hub in eastern India, benefiting both the residential and commercial sectors.
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