Metro gives Bengaluru’s Hosur Road new realty life
Some of south Bengaluru’s residential areas are seeing renewed interest because of better infrastructure, while some areas in the north have started gaining prominence due to their proximity to the airport.
Areas such as Yelahanka-Kogilu in the north, and Sarjapur Road, Hosur Road (towards Electronic City) and Kanakapura Road are being touted as emerging areas due to relatively attractive property prices and a wide range of housing options.
Hosur Road, comprising Begur, Kudlu Gate, Singasandra and Electronic City, is drawing attention because of the upcoming Metro rail line, which will improve connectivity to the central business district (CBD).
Major players like Prestige, SNN Builders, Raheja and Salarpuria Sattva are already active in this area. Property consultant Anarock said in a recent report that there are a number of properties here in the less than Rs 40 lakh segment, and also in the mid segment (Rs 40-80 lakh). “Most of the affordable properties are located in Electronic City Phase 2,” the report said.
“Since Electronic City has always been a commercial area and with a lot of new developments, buyers see value for money. Commuting used to be a problem, but with the Elevated Expressway and the upcoming Metro, things will change,” said Farook Mahmood, CMD of property consultancy and brokerage firm Silverline Group.
Sarjapur Road, which has long been a prominent residential area due to the presence of IT parks, is seeing increased construction activity in the area called Kodathi, where Wipro’s new 50-acre campus is coming up. The area is about 4km from the existing Wipro campus. About 30,000 Wiproites are expected to be working from the new campus once it is ready.
Anarock said the area is also attractive in terms of price, at Rs 4,600 per sqft. The BBMP is expanding the 5-km stretch from Iblur junction to Carmelaram junction near the new campus to a 6-lane road.
“An advantage of this new area is that it is under BBMP, and on one side it is open to the Outer Ring Road (ORR),” Sobha MD JC Sharma said. The company is setting up a new project there, in Hadosiddapura. Prestige and Godrej are also setting up housing communities there. Sources said these realtors own huge land parcels in that zone.
Another area that is fast coming up is Yelahanka-Thanisandra-Kogilu area in the north, beyond Hebbal. While Thanisandra is becoming a major area due to its proximity to the Manyata Tech Park, Kogilu, which is near Jakkur and Yelahanka, is close to the airport and not far from Manyata.
The average price for a new launch here is between Rs 3,800 and Rs 4,800 for a mid-sized builder.
“The airport is just 30 minutes from there. And it takes the same time to reach Manyata Tech Park. With hospitals, international schools and a possible mall coming up, the area is getting a facelift,” said Suhail Rehman, MD of CoEvolve Estates, a company that’s establishing a large project there. Phoenix Mills is said to be setting up a 1 million sqft mall in the area.
Kanakapura Road is also an upcoming residential area. Anarock found it had one of the highest number of supplies of new units, at 2,800, from 2017 to the first half of 2018, with average per sqft price of Rs 4,800. “Enhanced connectivity to major areas via Metro is boosting the realty demand on KanakapuraRoad. The advent of IT/ITeS parks in and around the area is also a major reason for high supply of units,” it said.