Ever since the emergence of the city’s new international airport in this area, there has been an unprecedented boom in north Bengaluru, making it the fastest appreciating property location. As a refreshing change from the confines of the city, there are large tracts of land available here, and this has spurred a number of property ventures.
Several factors make north Bengaluru such an alluring destination. For starters, there’s great road connectivity thanks to an express highway, and plans are already afoot for a high-speed rail link and monorail. Many educational institutes of repute, and multi-specialty hospitals dot the vicinity. Taking note of the tremendous potential, the government has initiated various IT/SEZ projects in this belt. And then, of course, is the proximity to the city’s ring road, and future connectivity through the planned peripheral ring road.
As a result, industry watchers expect property prices in north Bengaluru to go only one way in the near future – further up. No wonder investors in Bengaluru and other parts of India, as well as NRIs, are making a beeline. Clearly the future is here and it makes sense to invest now.
IN THE CORRIDOR OF GROWTH. MAKING IT A DREAM INVESTMENT.
- Widening of Bellary (airport) road from a 6 to 8 lane for faster, effortless travel.
- A 33 km proposed High-Speed Rail Link (HSRL) to connect central Bengaluru with the airport.
- Peripheral Ring Road, Intermediate Ring Road and Satellite Town Ring Road connecting most parts of Bengaluru to the airport.
- A 15 km elevated corridor connecting Central Silk Board junction to Jayamahal Road for quicker access between north Bengaluru and other parts of the city.
- Phase 1 of the Bengaluru Metro corridor will connect Hesaraghatta Circle with Putenahalli. Metro phase 2 (72 km) to extend up to airport in the north and NICE junction in the South.
PROPOSED COMMERCIAL DEVELOPMENT
- 4000 acres of KIADB land to be developed in IT/BT, Hardware and Aerospace fields near the airport.
- The 980-acre Bangalore Aerospace Park is attracting investments from 56 large and mid-sized companies.
- An aerospace park with an investment around Rs. 30,000 crore (current exchange rate) that will create 4,000 to 5,000 jobs in the highly skilled area and 2.5 lakh jobs in skilled and indirect jobs.
- Wipro Infrastructure Engineering, the global hydraulics business of Wipro is setting up an actuator manufacturing facility with an investment of Rs. 7,000 crore to produce 2,000 actuators a year.
- Swiss Group STARRAG is setting up a machining plant.
- A 14-acre Nano Park with a 100 crore investment at Nelamangla.
- With BIAL IT investment in 10,000-12,000 acres, 55 MNCs including TCS, Wipro, the development will generate investments worth USD 1.2mn direct & USD 2.8 mn indirectly.
- KSIIDC – commercial development on 309 acres.
- Sanctioned 35 acres for the construction of convention centers and hotels.
- 22 acres of retail, hospitality complete with 3 hospitals coming up. Also proposed is Trident 5 Star hotel in Devanahalli near BIAL.
- The Government of Karnataka has also proposed setting up an entertainment park named ‘Space City’ along the lines of Disneyland in Bangalore.
UPCOMING HOTEL PROJECTS
- The Oberoi at BIAL, Marriott Golf Resort and Convention Centre near Nandi Hills and The Taj Business Hotel coming up soon.
- Construction for the biggest convention center has been sanctioned by the government. This will house two 5 star hotels on approximately 35 acres of land, close to Devanhalli Business Park.
- Manipal Education is setting up a 200-acre university campus.
- Aviation Academy spread across 9 acres.
OPPORTUNITIES ARE MANY
- As per primary research by Prop equity in H1 2013, Devanhalli is to be a major commercial hub.
- Aerospace & SEZ will be fully functional by 2017.
- Shell, Ascendas, IFCI campuses & Convention Centre will be ready by 2016.
- With the completion of Phase 1, ITIR will see IT companies creating 1.5-2 million white collar jobs.