The need for apartments in Bangalore’s northern part rises

The capable infrastructure and proximity to the airport are the factors that pull the demand for both commercial and home alternatives.

The northern part of the Bangalore city is continually attracting home buyers because of its closeness to the Airport. The infrastructure too is speedily catching up to serve the realty expansion in this vicinity.

Ravi Vadhavkar, the Director of Valuation and Advisory, Colliers international India commented that Northern Bengaluru is the subsequent residential and commercial hot spot. It is among the fastest growing micro-markets in the metropolis. Good infrastructure, easy connectivity, closeness to the international airport and availability of land are the drivers of growth in this vicinity. Now this area needs a significant anchor in form of tenant to move if it has wants to unlock its capability. Excessive land prices and huge sizes property in Bengaluru have catapulted residential charges to new highs on this location. Given the constrained availability of best workplace area in the different markets around and the extent of infrastructure within the north of the city, this vicinity is poised to be the most outstanding property marketplace inside the town.

luxury homes in bangalore

The region is observing a blend of both all Real Estate property in Bangalore-residential, retail and office space development. The tourism department is also showing eager interest inside the improvement of this place to construct hotels so as to serve the population right here and to the International Airport.

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Shrinivas Rao, the CEO of APAC, Vestian Global place of business services explained that the real property boom in the northern vicinity of Bengaluru has a famous and tremendous correlation among nearby economic system and airport. The six-lane freeway over Bellary road toward the airport is not any much less than a lifeline and in flip has progressed both the intra-city and regional connectivity manifold. It seamlessly hyperlinks the crucial enterprise District via Hebbal to the International airport. other routes in North Bengaluru which have discovered commercial growth inside the vicinity consist of Hennur street and Thanisandra avenue connecting from old Madras road. The presence of the global airport, suitable bodily infrastructure and attractive leases are reasons for heightened Business interest inside the location. All main real property gamers have obtained land banks in North Bengaluru, as a result there is no dearth of viable commercial office space alternatives for company give up-customers.

Excessive-tech industries corporations specializing in statistics and communication technology usually discover their facilities around the airport as their specialists are in all likelihood to travel through the air as a minimum 60% extra frequently. Closeness to the airport also offers these corporations excessive visibility to their manufacturers.

The builders in Bangalore are now focusing more on this region and developing properties that would attract several buyers.

Major Hotspots fuel the Demand of real estate in Bangalore

Bangalore is known as the Silicon Valley of the country mainly due to the presence of a number giant IT/ ITES.  Moreover, the city houses some of the best institutes of India which pull number of students from every corner. Bangalore enjoys an amazing cosmopolitan culture which directly impacts real estate in Bangalore. The burgeoning industrialization, increasing population and other favorable conditions have promoted the number of Residential projects in Bangalore.

Captured below are few hotspots in Bangalore that invites for a lucrative investment.

Sarjapur

Sarjapur is one of the fastest developing locations in Bangalore as of now. The major highlight is its excellent connectivity to some of the prominent localities such as Whitefield, Electronics city and Koramangala. Several reputed educational institutions, shopping centers and other fun and entertainment avenues add to its attractiveness.

 

Hennur

Thanks to the BIA, Hennur and other locations in Northern Bangalore are emerging as the new epicenter of Bangalore’s commercial and cultural life. Located on the northern most tip of the city, Hennur is directly connected to BIA through Hennur Road. It also boasts connectivity to major tech parks in North Bangalore such as Manyata Tech park. Like other localities in North Bangalore, property in Bangalore, Hennur has been a late entrant in the purview of Bangalore’s realty landscape. Property prices are still moderately priced with ample scope for future appreciation.

 

Hennur and its nearby location have a healthy blend of both lifestyle living as well as affordable housing assignments. Though over 70% of the property purchases are done with a purely investment oriented intention, these days’ end users are also actively looking to the area. The property prices have appreciated by 16% in the last two years. With an increase in demand, higher appreciation could be expected in the coming time.

 

KR Puram

Strategically located in East Bangalore, KR Puram seems to have excellent investment prospects. Located at the intersection of the Old Madras Road and the Outer Ring Road on NH 75, KR Puram is well-connected. It also enjoys proximity to two major IT hubs-Whitefield and Manyatha Tech Park, which makes it most sought after destination for IT professionals.

 

Hoskote

Located in East Bangalore on National Highway (NH) 4, Hoskote till recently has been an industrial suburb. However, its proximity to Whitefield and other IT parks in Eastern quadrant of the city along with better road connectivity to other parts of the city and the Bangalore International Airport (BIA) has resulted in increase in residential activities. A home to over 200 industrial units, its pace of residential activities is further enhanced due to presence of large parcel of land available at moderate price. Upward movement is expected in the coming time.

 

Whitefield

Whitefield is one of the self-sufficient micro markets in Bangalore, located in the Eastern quadrant. The emergence of Whitefield as a key residential micro market in Bangalore has taken place on the backdrop of a robust IT/ITES industry. The arrival of a robust IT industry has been simultaneously associated with emergence of world class schools, hospitals and malls.

 

 

These major hotspots have fueled the value of real estate in Bangalore and also has also significantly raised its demand.  A number of promising residential projects in Bangalore are in the pipeline that offer state of the art infrastructure and top notch amenities.

 

 

Real estate in Bangalore is expected to grown exponentially in near future.

Bangalore is known for amazing cosmopolitan culture, awesome and tranquil weather and equally good and trendy lifestyle. Owing to these attributes, the city holds a magnetic charm and attracts a good number of investors every year. Real estate in Bangalore has a vibrant market due to various reasons. The city has also earned the name of  ”Silicon Valley of India, ” as it incorporates the largest number of Information Technology (IT) and Information Technology Enabled Services (ITeS) companies such as Infosys, ABB, Convergys, HCL, IBM, Cisco & many more. In fact the city is recognized for being the pioneer of IT revolution in India and is a home to many leading public sector undertaking companies from the defence, aerospace and biotechnology domain. According to the report revealed by Forbes magazine, Bangalore. The city is on a continuous growth spree with many projects are on the threshold such as Devanahalli Business Park, Embassy Knowledge Park & Manyata Embassy Business Park & many more. The city not only enjoys the reputation of being a vogue and high-tech city but also has a rich cultural, historical & archaeological ethos.  One can explore many places such as Bengaluru Palace, The Fort, Lal Bagh, Tipu’s Summer Palace, Attara Kacheri & many more. All these factors have significantly contributed in the growth of Real estate in Bangalore.

Apart from this one of the major reason that has pushed the Real estate in Bangalore is the development of proposed Peripheral Ring Road (PRR) that will connect Hosur Road & Tumkur Road via K R Puram and Bellary Road, once functional. It will increase the accessibility to various realty markets such as Hebbal, Marathahalli, HRBR Layout & Yeshwanthpur etc. This had led to positive sentiments among the buyers as many real estate developers are shifting their focus to these markets. Another major development that is lined up is the under construction Bangalore-Mysore Infrastructure Corridor (BMIC), that is a four to six lane expressway connecting Bangalore and Mysore. With many proposed townships entering into the space, the Residential projects in Bangalore is envisaged to grown exponentially in near future   and expects to reduce travel time between Mysore and Bangalore from 3 to 1.5 hours. The 22-km stretch between Hebbal flyover and the Kempegowda International Airport, has opened and is a signal free gateway. This has led to decongestion and cut down the commuting time from 60 to 20 min, from Hebbal to Kempegowda International Airport. The Government has initiated the a slew development especially targeting the Northern hemisphere of Bangalore such as planned Information Technology Investment Region (ITIR), Aerospace SEZ and Devanahalli Business Park- All at Devanahalli. In the coming time, it is expected to unlock the value of the place and boost real estate in Bangalore to the next level.  As these developments are likely to create at least 300,000 white collar jobs in & around Devanahalli in the coming time, it would not be wrong to say it also mark the golden period of Real estate in Bangalore as it will also push the demand for residential units .

 

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Real estate in Bangalore – The Lonely and Only Shining Star

Bangalore the city of angels has grown from strength to strength over the years. The city is a perfect example of what a metropolitan should be. The Real estate in Bangalore has grown at an unprecedented rate in the past few years. The city has the highest per capita income of INR 9200/- among all cites in India. It has 91% urban population. Bangalore has not only been a pioneer in the IT sector but also has to credit other sectors like Biotechnology, nano-technology, manufacturing, services and is also the Mecca for Startups. It is also the ‘Skill Headquarters’ of the Country. Out of the 2400 recognized IT firms operating in India, 950 have base in Bangalore. From the real estate perspective one of the main reason for Bangalore’s success has been the low rentals of office space, the table below highlights the average rentals for office space in Bangalore in comparison to NCR and Mumbai.

 

These are very shocking figures as the rentals are more than 50% lower than those of Mumbai and NCR. Further the rental market in Bangalore has grown by 14% whereas NCR has been steady with Mumbai going through a correction of 8%. This highlights the success story real estate in Bangalore.

 

Ser No City 2011

(rent/sq.ft/month)

2015

(rent/sq.ft/month)

1 Bangalore 95 108
2 NCR 295 295
3 Mumbai 270 250

 

Let’s go through another set of data, the table below highlights the stock profile and absorption rate of office space in three major cities. It is clearly evident that Bangalore is on the top, from the point of view of stock as well as the absorption rate. Another highlighted fact is that properties in Bangalore has still maintained its tempo during the times of a slow-down and market correction.

Ser No City 2011

(million sq. ft.)

2015

(million sq. ft.)

Stock Absorption Stock Absorption
1 Bangalore 88 9 127 12
2 NCR 67 6 95 9
3 Mumbai 62 3 87 4

 

Bangalore real estate sector has been on the top right through 2015and the first quarter of 2016. Bangalore accounts for 33% of completion rate of the total developed office space in India and 32% of the total transactions. These figures in themselves are demonstrative of real estate sector’s stability in Bangalore, during the toughest phase the sector has been going through. With this strong potential and performance, the coming years are going to rewarding for real estate in Bangalore. With a steady flow of capital due to desired sales, the top builders in Bangalore has not had to look back and will see a steady progression in future.

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