The East-West Metro railway project has been an eagerly awaited one that is expected to give a massive boost to real estate in Kolkata. As per the latest reports, the East-West metro route may commence operating commercially with the first phase of 6 kilometres which is between the Salt Lake Stadium and the Sector-V IT hub. This may become operational by the end of April, 2019, as per reports in case of a timely approval from the CRS (Commissioner of Railway Safety).
This clearance is needed from the CRS since it is the final safety approval required to start the very first phase of arguably the biggest and most unique infrastructure project in Kolkata. The CRS operates independently under the aegis of the ministry of civil aviation. The entire metro railway network spans 16.6 kilometres between the Howrah Maidan and Sector V in Salt Lake. This also covers a stretch underwater in the River Hooghly and should be fully operational by the year 2021 according to reports.
Key steps for the East-West Metro till now
The East-West Metro project has already completed several major steps en route towards commencement of operations in the first phase. These include the following:
- The RDSO (Research Design and Standards Organisation) has already issued its safety certificate back in January 2019 and is a research and development entity housed under the Union Railway Ministry.
- There will be tests conducted in mid-March 2019 by a French certifier independently for releasing the ISA (independent safety assessment) report.
- The CRS (Commissioner of Railway Safety) on the behalf of the Railway Board, has already executed its preliminary investigation early in February 2019.
- CRS will be holding several other tests by the end of March 2019 and also in early April 2019 according to reports. On the basis of CRS reports, the final approval will be obtained from the Railway Board.
- The light rail network will have to go through strenuous testing along with commissioning procedures in order to ensure its overall safety and total functionality prior to starting commercial operations.
- The extensive CRS tests will include track checking and also synchronization when it comes to passenger safety gates. There will be tests covering other aspects like the stations, electric traction signalling, station lifts, fire safety, telecom systems and also whether staff members are suitably equipped and trained for handling metro operations smoothly.
- The East-West Metro may start operations in the first phase in April itself in case the approval comes on time from the CRS.
- The RDSO had given its safety certification on the 21st of January, 2019 and was the nodal body nominated by the Union Railway Ministry for holding oscillation trials. The Railway Board is the next major body whose approval is required for the metro corridor.
- KMRC (Kolkata Metro Rail Corporation), the SPV (special purpose vehicle) executing this mega project worth Rs. 8,575 crore, has already submitted several documents to the CRS at the headquarters in Lucknow post the preliminary inspection carried out by the latter one week earlier. A preliminary report will be forwarded accordingly by the CRS along with these documents to the Railway Board for rolling stock sanctioning.
- The French certifier is a third party body for appraisal that has been given authorization for doing a double check of the safety levels of the trains and metro network. The ISA (independent safety assessment) report will have to be obtained from this body prior to the commencement of trials by the CRS. The team from France is expected to arrive by mid-March 2019 itself for the inspection of the signalling setup, train system and platform screen doors for providing the ISA certification. The CRS will require this prior to beginning trials.
According to reports, around 50-60% of necessary safety approvals and clearances have been obtained till now and there will be safety trials done for several aspects including power cables, tracks and stations among others. The pace of developments in March will determine whether the first phase can start operating in April 2019. The Managing Director of the Kolkata Metro Railway Corporation, Parashuram Singh, has reportedly stated that if the CRS can issue its certification within 7-10 days in either the end of March or early April, then the KMRC will be notifying the Ministry of Railways that operations can commence anytime as per its wishes. The metro corridor has been developed as per international standards and 10.8 kilometres will be the underground corridor to Subhas Sarobar in east Kolkata from Howrah while 520 metres will run through the tunnel under the Hooghly River. The roof of the tunnel will be approximately 30 metres from ground level.
The 12 stations will be Howrah Maidan, Howrah Station, Mahakaran, Esplanade, Sealdah, Phoolbagan, Salt Lake Stadium, Bengal Chemical & Pharmaceuticals, City Center 1, Central Park, Karunamoyee and Salt Lake Sector V.
How will real estate markets benefit?
As per reports, real estate projects in Kolkata which are being developed within one kilometre of any metro line/route/corridor will have the eligibility to have 20% higher floor area as compared to the floor area that was allowed previously. The Kolkata Municipal Corporation (KMC) has already amended its building regulations sometime earlier and this will be a major boost for real estate micro markets located in close proximity to metro routes. Apartments facing roads with width ranging between 15-24 m can apply for added floor area ratio to the tune of 15%. In case of road width exceeding 24 m, this can go up to 20%. The floor area ratio is the ratio of the gross floor space of a building to the plot size.
The new amendment will be a major boost for new real estate projects and big complexes which are being developed or in the works along the entire New Garia-Airport route including Rajarhat New Town and several parts of the EM Bypass in tandem with the East-West Metro network and the upcoming Joka-BBD Bagh metro route. The Corporation has amended the regulations in the wake of huge real estate demand forecasted along new metro corridors including the East-West metro route. Prior to demand increasing, enabling extra floor area will naturally help the Corporation get higher revenues while also benefiting customers.
Rajarhat New Town is the hub of the future
Rajarhat New Town is definitely poised to be the next big real estate hub in Kolkata. It is well connected to Sector V which is a major station for the East-West metro route while being part of the Airport-New Garia metro corridor. Already, a metro station is being built in close proximity to the New Town bus stand and this will be a part of this New Garia-Airport route. The Majherpara project site near the EM Bypass has already been cleared as per reports and will be ready within the next 6 months. This site faced a hurdle previously on account of 8 structures. Rajarhat New Town is witnessing rapid real estate development with premium projects like Mani Artista and Tata Avenida coming up in the area.
Rajarhat New Town has also been witnessing rapid development including several connectivity improvements like flyovers and wider roads. It is already a major IT and ITeS hub with several top companies shifting base here along with being a hotspot for corporates, MNCs and government organizations as well. There will be several other IT Parks built in the future and this will naturally boost the real estate market further. Rajarhat New Town is being built as a city of the future or a super city and will be home to several transportation hubs, plants for water treatment, amusement and recreational zones and other measures like e-clinics as per reports. It will also have measures like LED streetlights for saving power and panic buttons and also cycling tracks and solar panels for buildings.
This entire township is larger than Salt Lake and there is a 10.5 kilometre Wi-Fi zone as well, linking the key arterial road to Sector V and the Airport on two flanks. This is the first Wi-Fi road in the country and the entire stretch has been made into a green corridor as well. There are several reputed educational institutions and hospitals in Rajarhat New Town as well. It is set to become one of the biggest education and healthcare hubs of the future while restaurants, shopping malls, recreational zones like the Eco-Tourism Park, Mother’s Wax Museum, Arts Acre and Kolkata Gate and other hang-outs are major draws already. There are several parks, supermarkets, star hotels, private clubs, cultural zones, spas and other facilities in the entire zone. Rajarhat New Town will also benefit from the dedicated business zones and clusters that are being set up like the proposed Silicon Valley. All these factors make it a great option for investing in residential real estate at the moment. Commercial growth coupled with connectivity improvements and high-tech infrastructural development are set to transform Rajarhat New Town into arguably the hottest realty market in Kolkata over the next few years.
