Open, building, or still on paper

Every project brochure in this market leans on infrastructure, and almost none of them distinguish between a corridor that is carrying passengers and a corridor that has a detailed project report. The difference is usually five to ten years and, if you are wrong about it, a good part of your return. This is where each one stood in September 2026.

Open. The full 82 km Delhi to Meerut Namo Bharat corridor was inaugurated on 22 February 2026, completing a Rs 30,274 crore line with sixteen stations and a 180 kmph design speed. In May 2026 it carried 2,910,205 passengers, a daily average of 93,877. On Delhi Metro Phase 4, the Janakpuri West to Krishna Park Extension stretch opened in January 2025, and on 8 March 2026 two further corridors opened, Majlis Park to Maujpur Babarpur on the Pink Line, completing India's first ring metro at 71.56 km, and Deepali Chowk to Majlis Park on the Magenta Line.

Under construction. The Golden Line from Aerocity to Tughlakabad, 23.62 km and fifteen stations, has no operational section; trainsets began arriving at Sarita Vihar depot in April 2026 and partial operations are expected around the end of 2026. The Gurugram Metro runs 28.5 km from Millennium City Centre to Cyber City in two phases; phase one is 15.22 km elevated with fourteen stations, and a 2.2 km stretch between Hero Honda Chowk and Umang Bhardwaj Chowk is held up by utility shifting, with a 1,600 mm water pipeline, a 66 kV overhead line, seventeen electrical feeders and ten building demolitions still to clear. GMRL has set November 2026 as the deadline for that stretch. Phase two, 13 km at about Rs 2,700 crore, has a World Bank loan approved and its tender under evaluation.

Approved only. The Delhi to Alwar RRTS has had DPR approvals since 2018 and 2019, an approved length of 164 km and an estimated Rs 37,000 crore, and not one kilometre under construction. The Delhi to Panipat RRTS, 103 km and Rs 21,627 crore, is approved and not started. The Ghaziabad to Jewar corridor is at DPR stage. The Rithala to Narela to Kundli metro corridor, 26.5 km at Rs 6,230 crore, received Cabinet approval in December 2024 and is at civil tender stage.

The one that should change a Gurugram conversation. The Southern Peripheral Road elevated corridor, roughly 5.3 km linking Sohna Road with NH-48 at about Rs 750 crore, has re entered the planning stage, with GMDA seeking a fresh detailed project report. A great many pitches for Sectors 70 to 79 treat that corridor as funded and imminent. It is back at DPR. Separately, HSVP has begun procuring around 17,000 acres in Gurugram through the e-Bhoomi portal, its first large land procurement in roughly two decades, though sectors, rates and timelines are not yet published.

On water, which decides more about a Gurugram sector than any metro line, GMDA is adding 100 MLD at the Chandu Budhera treatment plant to take city capacity to 770 MLD, and is laying a master sewer network across Sectors 99 to 115 along the Dwarka Expressway belt. Whether the Chandu Budhera unit was actually commissioned on its March 2026 target we could not confirm, and the authority has missed treatment plant deadlines before.

The rule we apply, and would suggest you apply. A corridor counts towards value when it is carrying passengers, discounts heavily when it is under construction with a contractor on site, and counts for nothing when it has a DPR. Sanction is not construction. A foundation stone is not a station.