Until a decade ago North Bangalore was not one key residential locality in the Bangalore region. It was generally not considered close to other localities such as Koramangala, Indiranagar, Jayanagar, Malleswaram, Sadashivangar, Banashankari or Basavanagudi for residential living. However, thanks to the development of the Bangalore International Airport (BIA) and subsequent commercial and infrastructure developments thereafter, its fortune changed soon. Mentioned below is the list of five factors that is fueling the North Bangalore residential realty sector.
1. BIA: Located 4 KM south of Devanahalli, the new international airport is one of the busiest airport in the country both in terms of domestic as well as international traffic. The development of the airport has helped North Bangalore to multiply its overall significance.
2. Business Parks: North Bangalore is rapidly evolving as the business and economic hub of the Bangalore city. At present it boasts some of the robust IT parks including the Manyata IT Park near to Hebbal, which are directly fueling the residential market of the region. After all individuals mostly prefer home near to their work station these days.
3. Upcoming Infrastructure: North Bangalore at the moment is one the forefront of a rapid infrastructure development. The range of high profile infrastructure development in North Bangalore encapsulates high speed rail-link connecting MG Road in Bangalore central to BIA , 116 KM peripheral ring road circumventing the city and connecting Old Madras, Hennur and Bellary road etc. and capacity expansion of Yelahanka road. Not to mention business parks such as information Technology Investment Region (ITIR), Devanhalli IT Park and Bangalore Aerospace Park (BAP) which once completed are expected to create massive employment creation.
4. Large Parcels: Due to being a new entrant into the realty bandwagon, North Bangalore still has large parcels of land, which makes it favorite among most of the realty developers of Bangalore.
5. Social Infrastructure: The growth and development of new infrastructure and Business Park is also stimulating growth of social infrastructure in North Bangalore in the form of schools, colleges, restaurants, shopping malls, retail outlets and restaurants etc. , thereby further adding to its glamour quotient.
Due to the blend of the above mentioned reasons, North Bangalore is one of the most sought after residential realty markets in Bangalore at the moment both in terms of luxury realty as well as mid segment realty. Not only is the place a great place to live but also makes a great investment sense. Thanks to the present growth momentum and the upcoming high end infrastructure developments in the region. Internal research at Kin Housing indicates that Properties in the recent past have intercepted an appreciation of 20-30 percent and likewise similar growth is expected in the coming time. Some of the key micro-markets within North Bangalore involve Hebbal, Devanhalli, Yelahanka and Hennur etc.
At Kin Housing we extensively specialize in properties in Bangalore. If you are looking to invest in North Bangalore or any other part of the city, feel free to connect with us for free advisory. We will ensure that you undertake the best investment decision.