This study focus on analyse the impact of Mass Rapid Transit system (MRTS) on residential and commercial property of Faridabad City. The impact of MRTS has been studied by many researchers across the world but there are few studies in India on the effects of real estate. The properties which are in close proximity to MRTS station area are in high demand in real estate market as the location become more attractive and they enjoy benefits from saving in travel time. Even though, the smallest change in the urban development affects the real estate price of residential and commercial property. Faridabad has been witnessing the rapid growth in urban area due to the introduction of Metro Rail system in 2015. It offers the most reliable, safe, and fast option of commuting. The MRTS system enables a high level of commuting from residence to work and other activities for customer and household and employees. Building a MRTS project in any city generally expected to have positive impact on property values.
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December 2022
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