Real Estate in Bangalore Seeing Commercial Development

The stretch of the area from the Hebbal flyover upto Devanahalli is abuzz with plans for many commercial projects. The recent Global Investors’ Meet, brought this area into focus. Many industries have evinced keen interest in the three industrial parks that are coming up on 3,000 acres of land in this region and will be ready to occupy by the end of this year.

The widening of the Bellary Road and future connectivity through the planned Peripheral Ring Road (PRR) has also made this area a sought-after one. The PRR is aimed to connect Tumkur Road, Hosur Road, Mysore Road, Magadi Road, Bellary Road, Old Madras Road, and improve accessibility to Devanahalli. This is also spurring interest in residential options around these areas. mont botanik residences

According to findings from real estate firms, there are certain locations like north Bangalore that are buzzing with activity. This is because of infrastructure developments like the new international airport, the metro project, flyovers, underpasses and road widening activities, which are encouraging developers who anticipate a growth in demand. “Presently, real estate in North Bangalore is undergoing rapid transformation due to commercialization. Also, it is noticeable that the region has significant residential real estate activity, along with commercial developments.

The availability of land parcels for commercial development is one of the main factors driving development of Real Estate in North Bangalore. The demand is growing with no corresponding supply in the pipeline, apart from the existing tech park here. Other significant factors are the proximity to the airport, road projects and upcoming residential and hospitality developments.

Over 3,000 acres of land, hardware, IT/BT and aerospace parks will be coming up near the international airport. There is also provision to develop residential facility for people working in those industrial plants in about 250-300 acres of land. Some of the leading developers of Bangalore and Karnataka Housing Board (KHB) have been provided land. 100 acres have been allotted to the KHB and 25 acres to private developers. Some of the projects have already been approved and some are under consideration. While 90 percent of the space will be allocated for industrial and commercial activities, 10 percent of the space is reserved for housing.

There are land parcels in excess of 10 acres available in this micro market. The commercial development in Nelamangala and the Greater Peenya project coming up will also have a significant bearing on the development in this region, owing to the connectivity factor. Commuting from Nelamangala has been drastically reduced via the Outer Ring Road and NH 207 that will speed up the commute to Devanahalli.

Along with this, development of infrastructure is taking high priority in this area. For example, there are plans to look at the proposed high speed rail link to the International A i r p o r t, Mono Rail, and development of ring roads on public – private partnership model.

A 4 km-elevated highway will come up between the Hebbal flyover and Yelahanka bypass. There will also be flyovers at Yelahanka bypass and Vidyanagar, two pedestrian underpasses, one vehicular underpass, and a cattle crossing. Totally, there will be 26 bus bays till the airport.

Along with connectivity, the KIADB’s Hardware Park, Aerospace Park, and the ITIR planned here will give a push to residential development around. Localities around Yelahanka, Jalahalli, Doddaballapur Road, and IVC Road along with the BDA’s Dr Shivaram Karanth Layout are some of the areas that will benefit from better connectivity.