REALITY NEWS DEVANAHALLI:
AN EMERGING INVESTMENT DESTINATION IN NORTH BANGALORE
Devanahalli: A suburb located in North Bangalore, Devanahalli is one the fastest growing localities, housing more than 200 residential projects in its vicinity. Famous for the newly built Kempegowda International Airport, Devanahalli is rapidly developing as an industrial and technology hub in Bangalore.
Devanahalli, situated in the north-eastern part of Bangalore, is experiencing massive real estate growth owing to the presence of the newly constructed international airport. Comprising of a well-established social infrastructure such as schools, hospitals and recreational centres, Devanahalli is one of the most sought-after residential and commercial areas in the city. The projects in the locality are priced competitively, and the land parcels are relatively affordable than rest of the other suburbs in Bangalore such as Kogilu, Sahakara Nagar and Yelahanka. Residential units in the locality are priced in between Rs 4,300-Rs 5,100 per sq ft. Presence of a large number of temples in Devanahalli makes it a popular tourist attraction as well.
Transport and Connectivity: Devanahalli enjoys excellent connectivity to prime areas of the city via NH-7 or the six-lane Bellary road. The Bangalore Metropolitan Transport Corporation (BMTC) further operates several buses in the area to ease the traffic woes of the commuters. In addition to these, the locality is also well-connected to Yelahanka and the main city by railways. Presence of the international airport further adds to the charm of the locality.
Industrial hub: Owing to the presence of some of the leading IT Parks such as Hardware Tech Park, Aero SEZ and International Tech Park, Devanahalli is steadily emerging as a major technological hub in Bangalore. A Science Park and Financial city are also expected to come up in the region soon. Other than these, the locality is also the home to various acclaimed names such as TCS, Infosys, and Wipro.
Presence of adequate social infrastructure: Devanahalli benefits from a well-established social infrastructure comprising of reputed schools, office compounds and medical institutions. Some of these are Akash International School, Columbia Asia Hospital, Akash Hospital, Leena Multispecialty Hospital. Besides these, the locality also brims with recreational centres such as the Phoenix Market Mall, World Market Mall and Elements Mall.
Many reputed companies have now purchased land parcels in Devanahalli. Famed names such as Marlabs have shifted their operations to this region, giving a major thrust to the housing demand in the locality. Further, the massive townships launched years ago in Devanahalli such as Ozone Urbana, Brigade Orchards and Hiranandani, have now become a reality. A 1 BHK apartment in this locality would cost up to Rs 25 lakh, a 2 BHK unit would range somewhere in between Rs 30-65 lakh, and for a 3 BHK apartment, the homebuyers have to shell out somewhere in between Rs 45 lakh-Rs one crore, depending on the amenities offered in the project.”
The upcoming Phase 2 of the Namma Metro, passing through Nagawara in North and ending at Gottigere in South is further expected to boost the connectivity quotient in Devanahalli. Other than this, a new Satellite Town Ring Road (STRR) connecting Doddaballapur, Devanahalli, Hoskote, Sarjapur, Kanakpura, Ramanagaram and Magadi is also expected to be operational in the coming years.
Due to the factors mentioned hereabove, it can be anticipated that this North Bangalore suburb will soon witness a surge in demand for residential units. With an influx of commercial offices and IT Parks, the realty prospect of Devanahalli is expected to soar further in the times to come, hence making it an attractive investment destination for developers and homebuyers alike.
Metro gives Hosur Road new realty life
BENGALURU: 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. Most new units on Kanakapura Road
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 Kanakapura Road. The advent of IT/ITeS parks in and around the area is also a major reason for high supply of units,” it said.
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