InvestMan would like to introduce our readers to the Yellow Line Train Project, from Lat Phrao – Samrong currently under construction. The project is at the centre of public attention due to progress which is said to be ahead of schedule. Residents who live in the neighborhood of Bangkapi and Lat Phrao 101 stand to benefit from better public transportation and the increasing property values which tend to draw in investors and developers.
The route of the MRT Yellow Line Project, Lat Phrao – Samrong has a starting point at connection point of Chaloem Ratchamongkhon Line (Blue Line) at Ratchada – Lat Phrao Intersection along Lat Phrao Road by connecting to the MRT Gray Line Project at Chalong Rat Intersection and the elevated Chalong Rat Expressway until Bang Kapi intersection. The route will then turn right to the south and continue along Srinakarin Road, until connecting to the Orange Line Project at Lam-Sali Intersection. After that, the route will be elevated across the Rama 9 Intersection, by connecting to the Suvarnabhumi Airport Rail Link Project (Airport Rail Link) and passing through Pattanakarn Intersection, Si-Nuch Intersection, Sri-Udomsuk Intersection and Si-Iam Intersection. Then the line will turn right again to the west along Thepharak Road through the connection point with the Green Line Project, Bearing – Samut Prakan Section at Samrong Station. The end of the route is at Pu Chao Saming Prai Road.
Total project distance – 30.4 kilometers
The project consists of 23 stations
“Park and Ride” buildings located at Si-Iam Station
Located on the east side of the Srinakarin Interchange with Bang na – Trad Road. The facility consists of
- Bus control center
- Maintenance building
- Service and management office
- Train garage
Land prices around a radius of 1 kilometer from the station increases!
Our team had conducted a survey in the several areas we had determined the estimated prices of land in 2017-2019 before the official announcement of the project. By selecting the 2 stations that we have data to analyze and compare before and after (from 2017-2019) the announcement of the project. Let’s see how much prices have gone up.
In 2017, a land located on Lat Phrao Road was appraised at 150,000 – 200,000 baht / square wa. Currently, the proposed selling price has been raised to 350,000 – 400,000 baht / square wa, increased by 50%.
Land located next to the main road around the station was appraised at 60,000-80,000 baht / square wa. Currently, the offering price now ranges from 90,000-100,000 baht / square wa.
In 2017, new condominium sales prices located on Ladprao Road, started from 65,000 – 75,000 baht / square meter. At present, the price has increased to 80,000 – 90,000 baht / square meter, 16% increased. Meanwhile, the selling price of new condos located in the main alley around the station has not yet been launched, however according to other stations nearby, the launching price should be around 60,000 to 75,000 baht / square meter, depending on the distance from the train station.
Now let’s try analyzing the potential of the land in 2 parts.
Firstly, land located on Lad Phrao Road can be developed into a condominium project for residential purposes. It is located in the orange urban city zoning, which is classified as a medium-sized housing with FAR ratio of 4.5:1, OSR 6.5%. With the road width of 30 meters, a condominium project with a building area of more than 10,000 square meters can be developed, which would likely command a selling price of 350,000 – 400,000 baht / square wa.
Second part is the land located in the main alley. With a road width of 8 meters or more in the orange zone, condominiums of not more than 10,000 square meters in area with a height of not exceeding 23 meters can be developed. The development cost is currently estimated at 100,000 baht / square wa, compared to the possible offering price of 100,000-130,000 baht / square wa. Nevertheless, it is noted that some plots of land in the alley do not have development potential, due to the width of the road zone which does not comply with the regulations. Therefore, investors should verify the potential of the land before making investments.
At present, there is only one new condominium project being launched. This is due to the over-supply of the condominium market, in which we have seen many condominiums built around the stations – from outskirts to the city area. Thousands of units remain available for purchase. Hence, existing projects are offering serious promotions in an attempt to sell. Therefore, the current market price of land for sale is still a negotiable one. Land prices are expected to surge even higher as the construction of the Yellow Line is close to completion.
Thank you Google Map
Thanks to our followers and
Thank you for information from: Mass Rapid Transit Authority of Thailand