Monday, July 6, 2015

Real Estate Growth in North Bangalore

Bangalore which is known as Silicon Valley of India continues to attract techies, NRIs and other skilled professionals from all over the globe. According to recent reports, there has been an increase in number of Indians returning back from abroad to the city. Bangalore is also attracting expats from other countries; these facts have become important for making Bangalore (which is an IT Hub) a preferred real estate heaven across the country. Bangalore hot areas like Jayanagar, Malleshwaram, and Koramangala, Indiranagar or Basavanagudi and other famous locations were the only choice of realty investors a decade ago. However, change of real estate trends and continuous expansion of the city has attracted buyers because of competitive price points and the growing infrastructure and the cosmopolitan culture which is spreading across the outskirts of Bangalore. All these changes have made the investment safe and guaranteed in Bangalore. In midst of all Bangalore locations, North Bangalore has shown tremendous growth in real estate and has become one of the greatest developing areas as compared to other locations.

We explain below the ‘key factors’ for potentiality of North Bangalore

  • Location: 

Inauguration of Kempegowda International Airport has made North Bangalore as a hot spot of IT city. Major infrastructure developments like flyovers and road widening, malls, and major IT hubs like Manyata Tech Park and proposed SEZ parks in Devenahalli are the major key factors for the growth of North Bangalore.

Importance of north Bangalore will definitely increase as the present projects and new launches are comparatively more and the supply of more residential apartments which is going to be delivered in the next 2 years will see a major infrastructure development.

The projects after hebbal to devenahalli covering doddaballapur, hennur and outer ring road and you can find all the big players in these roads with their unique conceptual lifestyle designing projects. And the prices are starting from 70 lakhs to 7 crores, where you can find majority of millionaires and all the top management bureaucrats residing in these areas.

  • Available land bank: 

North Bangalore offers huge land banks due to the major developments and future developments in these areas compared to any other locations, all these factors are attracting many realty players to come up with large residential projects and commercial complexes, which can go well with the needs of investors from various categories. According to the latest research from various sources, North Bangalore market is going to turn into ‘Greater Bangalore’ when compared to the other locations of Bangalore.

  • Connectivity: 

North Bangalore has a great connectivity. Entire north Bangalore is well connected with larger part of the city through rail and road. Moreover, expressway joining Hebbal and Yelahanka has decreased the travel time to airport. Upcoming projects in north Bangalore will even make its connectivity better; some of them are High Speed Rail Link, which will connect city center and the international Airport; Monorail project connecting Hebbal, JP Nagar, and Peripheral ring road that will link Tumkur Road, Old Madras Road, Sarjapur Raod and Hosur Road. Good connectivity is required in making smart investment decision, since it provides great prospect, high income, and capital gains for investors in long term.

  • Infrastructure: 

Infrastructure growth in north Bangalore has gained breathtaking drive due to Kempegowda International Airport, which became South India’s busiest airport and Manyata Embassy Business Park in Hebbal has biggest MNCs like IBM, Cognizant, Target, etc; larsen & Turbo, GKVK, Jakkur flying club. This part of Bangalore has seen numerous hospitals, educational institutes, and shopping malls in recent years. After analyzing the growth of North Bangalore in all sectors, the State Government has made a decision to increase a number of projects, which includes planned aerospace SEZ, Rs 1,000-crore financial city and the Information Technology Investment Region (ITIR).

  • Overview:

As per analysts, it is evident that North Bangalore’s real estate growth is basically driven by new infrastructure developments, land availability, greater connectivity, IT parks, and airport. Real estate market in North Bangalore’s offers diverse products for all types of requirements. Both premium and affordable villas along with apartments, row or town houses, villas, and presidential villas are available at all prices suiting to everyone’s budget. Also Karnataka government has promised to take care of basic infrastructure in north Bangalore, it is certain that investment in real estate will surely show potential return in long term. All these aspects will force real estate growth in North Bangalore region and will bring profits for anyone looking at real estate investment.

This is a guest post by Asharani C


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