It’s time to be in North Bangalore for great opportunities.
North Bangalore has been the focus in land acquisition and land development from the dawn of new International Airport. It has excelled other Micro markets in Bangalore.
Nandi hills being an area close to Kempegowda International Airport, it has become a realty destination for Investors. North Bangalore is an emerging residential destination and is assured to be the next economic center of Bangalore. It is all set to become ‘Greater Bangalore’ or ‘Hosa Bengaluru’.
Nearly 2 million sq ft of space has been leased in North Bangalore in the last few quarters. JLL reports – the drivers behind the growth of office space are the financial services and IT/ITes sector, these segments account for almost 60% to 70% of the overall demand for commercial space. Aerotropolis-It has been seen that the city always expands towards the airport.
North Bangalore has Aero SEZ on 900 Acres, ITIR– 1,15,000 Cr Project, Spread over 12000 acres in KIAL region, Devanahalli Business Park, Vishweshwaraya Institute of Advanced Technology Project, International Schools and Engineering Colleges, KSIIDC – 309 Acres with International Convention Centre Next to KIAL- one of the first convention center which would meet the needs of both domestic and international business – cum – tourist – clientele for activities including large scale meetings, conferences and performances.
North Bangalore also has Logistic Park- next to BIAL & Nano Park in North Bangalore on 15 Acres, Global Financial District – 150 Acres with 45 banks, Bangalore Turf Club – 350 Cr @ Chikkajala & National Cricket Academy.
It also has Premium hotels – Taj, Marriott, The Oberoi to name a few…
Why North Bangalore will be the most preferred destination?
Just a decade ago, Bangaloreans mostly evoked names like Jayanagar, Malleswaram, Sadashivangar, Koramangala, Indiranagar, Banashankari or Basavanagudi for residential living and shopping always meant M.G road, Brigade road and Jayanagar 4th block and Commercial Street.
However, all that has change for good. While the traditional residential areas have held their popularity, new neighborhoods’ are becoming more appealing, especially for those who live a busy life.
As people realize that they spend most of their urban life in commuting across the city, they are beginning to live closer to where they work. A strong example of this trend is North Bangalore.
North Bangalore, not so fashionable, an address until even a few years ago, is now becoming the neighborhood of the town. It is now a bustling business corridor that is witnessing several corporate players and entertainment industry players heavily investing in the area.
It started with the inauguration of the Bengaluru International Airport (BIA) in Devanahalli a few years back, and since people have been slowly realising the importance of having a major airport very close to their living and workplace. It is a well-known fact that airports have been the major growth driver around most major cities world over and Bangalore will be no exception. With air travel set to grow heavily in the years to come, neighborhoods that are close to the airport will be the ones that will see the maximum growth in real-estate demand.
One of the major IT sector blocks has emerged with the opening of Manyata Embassy Business Park, an IT SEZ located on the Outer Ring Road and close to Hebbal. There are also several IT and major industry players that are planning major facilities in the area, which will also force growth in the area and this alone is a key benefit for anyone looking at either investment prospects or just a great home to live in for years to come.
According to realty experts, with the congestion of other major corporate and residential corridors, the area around the Hebbal Outer Ring Road will become a very lucrative option for the corporates that will in-turn drives the overall growth of the area. Experts say that the real estate options right now are good value pick and one can expect a return on investment in 60 months.
With several glitzy malls and also numerous well-known hotels and restaurants coming up on Bellary Road leading up to Kempegowda International Airport in Devanahalli, the entertainment quotient is also soaring up.
There are State Government plans too, to convert the Hebbal-Devanahalli stretch into a signal-free carriageway by next year under the National Highways Development Project (NHDP) to provide faster access to the airport. There is also the planned aerospace SEZ coming up near Devanahalli. Media reports have also stated that Rs 1,000-crore financial city and the Information Technology Investment Region (ITIR) are other infrastructure initiatives expected to come up.
Some other attractive features are a signal-free corridor from Hebbal junction, a quick 20km hop to the International Airport and just 12kms from M.G. road, and being close to some of the city’s most reputed schools, hotels, hospitals and enduring residential communities easily tilt real estate prospect in North Bangalore.
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