Property Market in Banglore offers value for realty investments thanks to its forte in the IT sector, influx of skilled manpower, pleasant weather and upcoming infrastructure facilities. Many regions in the city will be more investor-friendly in the coming years. This is mainly due to the fact that these locations have the ability to become micro-markets and make way for more development.
The main factors that make this possible are connectivity, the probability of huge infrastructure projects coming up in the vicinity and potential special economic zones generating opportunities for employment.
Here are a few locations spanning across the four corners of the city that you need to watch out for:
The Outer Ring Road (ORR) that first cut across Kanakapura Road from Bannerghatta Road to touch Mysore Road was the beginning of development in this region. Today, the ORR has seamless integrated with the other roads. This region has developed much beyond this junction that connected it to Banashankari. Realty development spreads as far as 20 km from here as well as along its perimeter.
What makes this locality a buzzing potential suburb is the connectivity with the Metro Rail project, the NICE corridor that intercepts it as well as the ORR.
Yeshwanthpur is a well-developed locality. The Metro will be a major boost here. There are many housing projects coming up at the Rajajinagar-Magadi Road junction. Huge retail outlets have already earmarked space for their upcoming stores. The availability of residential units will mean people looking at closer proximity to the Central Business District and Majestic coming here to stay. The residential catchment is extending up to Mysore Road.
Many retail outlets are planning to invest here. This area has the potential of high-spending customers and a high number of households.
Whitefield is a thriving micro-market. By the end of this year, many more malls and hypermarkets will open up here and the region will have over 15 lakh sqft of developed area. Most of the big names in the realty industry have a presence in Whitefield. This is due to the availability of land parcels, because of which it is expected to witness further real estate growth. Currently, there are many under-construction projects in the mid-segment residential space. For the high-end residential segment, gated developments and villas are also coming up.
There are three main industrial associations functioning in this region – the Whitefield Export Promotion Park Industries Association (WEPPIA), The Greater Bangalore Industries Association (GBIA) and the Hoskote Industrial Area. These belts
have tremendously broadened the scope for growth here. The upgradation of the Old Madras Road and expressway to Chennai by the National Highways Authority of India are some of the connectivity projects that will give a boost to this area.
The highly-valued and fast-growing suburb in the northern region with its close access to the international airport, Devanahalli is definitely a micro-market to stay invested in for the long term. With plans of an aerospace, IT and BT special economic zone and a definite growth trajectory owing to the expansion plans of the international airport, this region is in demand for realty development.
Some of the key factors driving the growth of the office market in the city include the improving residential catchment in the region with numerous residential projects being developed across Bellary Road, Yelahanka, Sahakaranagar, Amruthahalli, Jakkur, Hennur Road and Thanisandra Road. A number of infrastructure projects currently underway which when completed will vastly improve connectivity, including the elevated highway to the international airport and extension of the Metro to the airport through Nagwara junction on the Outer Ring Road.
Alok Kumar Upadhayay
Real Estate Professional