Why North Bangalore real estate markets have better investment opportunities among other key micro-markets?
North Bangalore in the recent years has evinced a miraculous spurt of growth among other key real estate markets. Rapidly flourishing into one of Bangalore’s leading investment hubs, it also features prominently on the radar of real estate investors. Its rapid progress has been nurtured by contributing factors such as the infrastructure of the airport, presence of global corporate titans and Bangalore’s infrastructural bodies.
With an excellent connectivity to Bangalore’s international airport, North Bangalore is replete with key commercial micro-markets such as Yelahanka, Bellary Road and Hebbal, which one anticipates will observe a future with tremendous growth potential. Marquee hospitals like the Pristine Hospital & Research Centre or the Columbia Asia Hospital are conveniently located within a close proximity for the residents of North Bangalore. Surrounding neighborhoods in the north have excellent commuting provisions to Bangalore City with a presence of well constructed roads, aimed to help in this sub-market’s rapid progress.
The government of Karnataka observing this tremendous development opportunities, has been proactively developing North Bangalore. Key micro-market areas in the North are Bellary Road, Hebbal, Yelahanka, Banaswadi, Hennur and Jakkur.
A few salient points which have contributed to North Bangalore’s development:
Aerotropolis: A first of its kind project in India. Bangalore International Airport Limited (BIAL) is working on projects for Kempegowda International Airport’s expansion, transforming it into a mini-city or Aerotropolis constructed around the airport.
New Commuting Facilities: Nagawara the hotspot of business parks would be linked to the airport in the north, courtesy Namma Metro’s second phase. Also in the pipeline is a proposal to build a 33 kilometers long High-Speed Rail Link (HSRL) which would effectively connect the airport with Central Bangalore.
Revival of the ITIR: With the Government announcing the revival of the (Information Technology Investment Region (ITIR) project, 40 lakh employment opportunities would potentially get generated in the region. Phase I of the project is scheduled to be operational by the end of year 2020.
Imminent Commercial Growth-Potential: The planned commercial development projects in the area would feature an aerospace and a hardware park, with global giants like TCS and Wipro. There is a forecast of a minimum of 2.5 lakh jobs being created in the region as a consequence of these projects.
New Residential projects: With the spurt in North Bangalore’s growth potential – commercial and transportation – the planned developmental infrastructure is indicative that the locality is positioned to house an estimate of over 25 lakh residents through the upcoming decade.
When it comes to property investment, North Bangalore presents as one of the hottest real estate markets promising excellent capital returns on investment.