While discussing modular forms associated to different subgroups $\Gamma$ of $SL(2,\mathbb{Z})$, there appeared to be a heuristic relationship between the index $[SL(2,\mathbb{Z}) \colon \Gamma]$ and the area of the Riemann surface $\Gamma/\mathbb{H}$, where $\mathbb{H}$ denote the hyperbolic plane. Specifically, it appears that when the hyperbolic area of the fundamental domain of $\Gamma$ is infinite, then $\Gamma$ has infinite index in $SL(2,\mathbb{Z})$.
Are any results that describe such a relationship? And if so, can we say anything for more general subgroups of $SL(2,\mathbb{R})$? (That is, for subgroups not necessarily contained in $SL(2,\mathbb{Z})$.) Specifically, I'm wondering about subgroups $G(\lambda) < SL(2,\mathbb{R})$ generated by the isometries $z \mapsto z +\lambda$ and $z \mapsto -1/z$, for $\lambda \in \mathbb{R}$.
Edit: @hunter has answered in the case where $\Gamma$ is a subgroup of $SL(2,\mathbb{Z})$. However, it is still not clear how this may generalize to subgroups of $SL(2,\mathbb{R})$.
In general given discrete subgroups $\Gamma_2 < \Gamma_1 < PSL(2,\mathbb{R}) = \text{Isom}(\mathbb{H}^2)$, there is an equation $$\text{Area}(\mathbb{H}^2 / \Gamma_2) = [\Gamma_1:\Gamma_2] \cdot \text{Area}(\mathbb{H}^2 / \Gamma_1) $$ So if $\text{Area}(\mathbb{H}^2 / \Gamma_1)$ is finite, as is the case when $\Gamma_1 = PSL(2,\mathbb{Z})$, then $\text{Area}(\mathbb{H}^2 / \Gamma_2)$ is finite if and only if $\Gamma_2$ has finite index in $\Gamma_1$. On the other hand if $\text{Area}(\mathbb{H}^2 / \Gamma_1)$ is infinite then $\text{Area}(\mathbb{H}^2 / \Gamma_2)$ is also infinite.
The reason for this equation is that the inclusion $\Gamma_2 < \Gamma_1$ induces an orbifold covering map (a branched covering map) from $\mathbb{H}^2 / \Gamma_2$ to $\mathbb{H}^2 / \Gamma_1$ of degree equal to the index $[\Gamma_1:\Gamma_2]$.