Metro Rail News Online

Kochi: If all goes as planned the Kochi Metro Rail Ltd (KMRL) will soon enter the city"s realty sector. The Metro agency"s entry into real estate targeting middle class home buyers is expected to redefine the sector. In a recent talk delivered by KMRL managing director Elias George, he firmly stated the Metro agency"s readiness to plunge into the sector. "We are going to do real estate business ," he said, adding, "We are confident that we can give the best possible fittings and flats." KMRL expects to generate revenue of approximately Rs 1,000 crore through the sale of these apartments. Kerala government has provided 18 acres of land to KMRL at Kakkanad, where old NGO quarters are located, and the flats will come up here. The Metro agency intends to develop European-styled apartments which are of 1,000-1,200 square feet. These apartments would cost less than what the front runners in the sector are selling now, he said. The KMRL managing director sa...

New Delhi: The construction sector in the country is expected to witness a boost in its order book due to the strong traction seen in the Metro rail sector, according to rating agency ICRA. The rating agency expects orders from the Metro rail sector to help boost the order book of the construction industry by Rs 75,000 to Rs 90,000 crore over the next three to five years. "The overall cost of expansion of operational and under-implementation Metro projects is over Rs 2.5 lakh crore. This would support the order books of construction contractors.Further, Metro Rail projects (MRP) worth another Rs 2 lakh crore are at various stages of approval and are likely to come up for bidding within the next five years," ICRA said in its note. "Roads and urban infrastructure, including Metro Rails are two key segments that have witnessed robust order inflows for the construction companies. Further, with a sizeable pipeline of projects i...