IT corridor and the ORR surges demand and push prices in few locations of Bengaluru

Bengaluru is an investor friendly city with perennial job generation by the immigrating multinationals and the IT companies in places along the Outer Ring Road, Whitefield, Electronic City and the IT parks and office buildings that are interspersed along Hosur Road, Bannerghatta Road and other places of the city. In one of the surveys it was pointed out that majority of the country’s startups are happening in Bengaluru and that guarantees a perennial supply of job generation and migration from other parts. The education sector is expanding in the same speed making Bengaluru one of the hot spot destinations among both students and educators. In all these myriad events and the countless factors that affects the prices of the land one is confused as to where to invest in order to optimize the returns on investment. Even if one chooses to buy land or property or even an apartment for the sake of residence what would be the factors to consider apart from proximity from one’s workplace and the infrastructure. The question that often arises in the prospective buyers’ minds is which are the areas of demand and where, the probability of the rise in prices are high? The reports, surveys,and the researches of the global consultants like Knight Frank, Cushman and Wakefield and others suggest that there are few areas in Bengaluru that shows high prospects and the rate of change is higher.

It is undoubtedly true that places like Bellandur, Marathahalli, Silk Board, HSR Layout, K R Puram and Hebbal are in the list of most preferred areas owing to the Outer Ring Road which has fostered the growth of offices along both of its sides. The connectivity is good and the infrastructure is on a swift move with the construction of malls, super markets and hospitals. There are places for free hangouts with eateries, spas and gymnasiums sprawling up with the influx of an enthusiastic population filling the areas in picturesque buildings built for different segments of the market. The experts and the market watchers note that there are few areas that had a more price elasticity and the names that need to be mentioned are Marathahalli, Whitefield and K R Puram.

Marathahalli – Investor’s Paradise
Marathahalli has emerged as a cosmopolitan area with a blend of the Richie-rich and the middle class too coexisting in respective niches. The region gives option for the investor to earn good returns in rental prices as the average rent in the area starts from Rs. 15, 000 and goes up to Rs. 60, 000 per month. The average price of one square feet of constructed apartments is Rs. 3, 500 to Rs. 5, 500 and so it is a good option for the investor and the prospective residents desirous of moving in ready to move in apartments. The average of the aggregate property prices in Marathahalli is Rs. 30, 000 to Rs. 2 crores giving one the freedom to choose from a host of properties depending on one’s lifestyle. 
The reason why Marathahalli is popular among investors is firstly many uber-luxury homes are built with the higher income group of the population shifting to the area. Secondly the connectivity of the place is pretty good with the ORR running throughout and the proximity of the IT parks and offices which are an indispensable plus. The International Airport is about 45 km away through the ring road and one can reach within an hour. 


K R Puram – The promise on the East.

K R Puram lies as a middle point between the both extremes of the Outer Ring Road namely Hebbal in the North and the Silk Board in the south and theinvestment hot spots of Bengaluru.
Whitefield with its growing population of the IT crowd. The railway station already enriched the place as the commercial hub connecting the suburbs of Karnataka. With the IT parks and the SEZs sprawling on the both sides of the ORR, K R Puram emerged as an investor’s hub with the Marathahalli – K R Puram stretch and the K R Puram – Hebbal stretch of the ORR being the preferred destination for the IT and the ITeS companies. The reports from the renowned global real estate consultants state that there are about 13.7 million sq. ft. of office space in the area and half of that belongs to the IT and the ITeS sector.  The average rental prices of the area are about Rs. 50 to Rs. 60 per square feet with an increase of 15 percent over the prices in 2013. Considering the connectivity of the place and the growing investor’s interest which is increasing the prices in the area, K R Puram should be one of the

Whitefield – The investor’s hot spot

Whitefield with the plethora of multinationals, Banks, IT and ITeS companies and the SEZs have become the investor’s paradise and the resident’s choice of all the sectors and especially the uber- luxury sector. The IT parks, SEZs and companies like Accenture, SAP labs, Societe Generale, GE, Capegemini, HCL and many others have helped the sleepy hamlet to become a tinsel town with all kinds of infrastructure which came up in the last one and a half decade. The area has lot of educational institutions and the Sai Baba hospital which also attracts crowd from all parts of India. The communication is also superb with connections to the ORR and the two state highways namely SH 104 and SH 207 connect it to the International Airport. The connectivity to Bengaluru is through two routes namely via Mahadevpura and Marathahalli and Old Air Port Road.
 
Presently the area offers plenty of ready-to-move-in apartments in the price range of Rs. 35 to Rs. 55 lakhs. Many developers have built and are building apartments which would be ready for possession in the year 2015 or latest by 2017. With the current spree of the population and the influx of the commercial spaces and office spaces in the area, Whitefield is definitely a place to invest for assured higher returns.

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