Could property in Bangalore which has been blessed by construction of metro line in the city appreciate further due to the creation of other newer and more advanced means of transport? Already when much of the rest of the world is developing plans to construct transportation systems that are right out of a science fiction movie, we in India as always seem to be playing catchup.
The popularly coined phrase that “it is not the country that builds the roads but roads that build the country” may already be facing steep challenges by disruptive technologies which are likely to turn much of what has been learned during the past century on its head. Greater connectively within a country leads to wealth and prosperity, yet at a time when much of India is debating the prospective merits and drawbacks of the country’s first and yet to be constructed bullet train, other nations seem to bursting ahead at light speed and embracing technologies which may make the bullet train seem as quaint as the current Indian railway network appear with respect to the prospective bullet train.
Technologies such as Hyperloop have the potential to move passengers from one side of the world to the other in hours, faster than can a commercial airliner today. At speeds nearly 4 times greater than a bullet train such a network of trains effectively renders a bullet train obsolete. The impact of such a network upon residential projects in Bangalore as well on other cities all across the country would be tremendous to say the least.
The Hyperloop technology has the potential to connect cities across India like never before, people could own luxury apartments in Bangalore which would be their primary residence but commute every day to New Delhi for work using Hyperloop. However once constructed such transportation system would not be only for the benefit of the wealthy, even those of more modest means who live in affordable housing in Bangalore could very well use the Hyperloop as a part of their daily commute. Once constructed in the country, a Hyperloop system would transform the vast Indian subcontinent into a village where living in Guwahati and working in Cochin is as common as traveling from Powai to Goregaon for work is today.
Such a network could be developed by cooperation between the top builders in Bangalore for the state of Karnataka and by builders in other parts of the country for their respective regions. Although to have a smoothly constructed system one may require the greater control of a centrally planned construction. Such a network would be very expensive, yet the price of even the most affordable 2 BHK flats in Bangalore is likely to skyrocket once such a Hyperloop system is operational connecting cities across vast distances in country.
The investment in the creation of a Hyperloop transport system is likely to be far greater than that required in a bullet train network yet the paybacks too would be far greater, why construct a new transportation system that will be obsolesced by a newer technology within a decade or two when the opportunity to construct the latest transportation system exists today.
The wealth effect of such a system would trickle across property in Bangalore and other real estate markets in the country. Flats for sale in Bangalore which today cost tens of lakhs could cost tens of crores once a Hyperloop system negates distances between cities in the country. In fact property all across the country even in small towns would see significant appreciation, anyone who owns a home may likely become affluent rather than just well off or middle class.