World Bank approves Rs 1,409 crore loan for Gurugram Metro Phase 2
By Naveen Kumar, Director at Triverse Homes
The World Bank has approved financing of Rs 1,409 crore for the second phase of the new Gurugram Metro, a project with a total cost of Rs 2,700 crore. Phase 2 is a 13 km corridor from Sector 9 to Cyber Hub with 14 stations, including Sectors 7, 4, 5 and 3, Ashok Vihar, Palam Vihar, Sector 22, Udyog Vihar Phases 4 and 5 and Cyber City, plus a spur to Gurugram Railway Station.
The tender was under evaluation by GMRL and HMRTC at the time of reporting, with major civil works to follow. Phase 1, from Millennium City Centre to Sector 9, runs 15.22 km, and both phases are being taken up together.
For buyers, this is good news for older Gurugram, Palam Vihar and the Udyog Vihar belt, where metro access has long been missing.
Source: Metro Rail News ↗
Naveen Kumar
Naveen Kumar is a Director at Triverse Homes with more than 16 years in real estate. He has an in-depth understanding of the market, from how projects are priced and launched to what drives their value on resale.
He is especially strong on HUDA (now HSVP) regulations and RERA: licences, approvals, allotment and transfer rules, and the rights buyers have when timelines slip. In his updates he explains what each change in the market or the law means in practice for anyone buying, selling or investing in Gurgaon.
