BANGALORE: The north has emerged right on top of the list as a preferred destination in Bangalore from the time the airport moved here. With connectivity in focus, with grade separators that facilitate smooth travel from Sadashivanagar right up till the airport, the widening of the Hebbal flyover, and the upgradation of Bellary Road with the elevated highway, localities around are witnessing a mix of premium luxury residential developments as well as mid-segment and budget housing options. The Government’s announcement of the Devanahalli Business Park, Hardware Park and Aerotropolis will give a boost to commercial and industrial development and thereby, further residential growth.
Alexander Moore, Chief Executive Officer – India, LJ Hooker, says, “The north is the future of the city with the majority of infrastructure development and new commercial development taking place inthis region.”
Triggers for growth
Connectivity and the international airport have played the most significant role in the emergence of the north as a region with potential for growth and capital appreciation. The widening of the Bellary Road from 6-lane to 18-lane with an elevated section, underpasses and flyovers will at once clear 22-km for commuters heading to and from the airport.
Commercial and industrial development facilitated by the government will give further impetus to the region.
The National Highways Authority of India’s (NHAI) upgradation of the NH-7 has proved to be the biggest boon to the north. Once complete, it will enable smooth, seamless travel whether from the north or the south and east through the Outer Ring Road (ORR). Future connectivity through a new Metro line running up to Nagavara has also led to interest in the north.
Moore states, “Infrastructure and commercial development based on proximity to the new airport and the NH7 corridor have spurred growth here. Whilst there are some developments operating here, most of the growth is yet to come. The north side is a 5-10 year play. The Hebbal area will, in the long term, be regarded as the ‘centre’ point of the city, much like M G Road is now.”
The announcement of mega projects such as the KIADB Park, Aerotropolis, Information Technology Investment Region and Devanahalli Business Park has triggered development in the north. The government has invited a number of corporates to set up their facilities and offices here. The presence of operational business parks here has also made these northern markets preferred residential destinations, primarily by the employees engaged in the IT/ITeS sector.
Proposed malls and hospitality projects are expected to increase the development potential in the region.
“With the exception of one sizeable completed tech park, only a small number of commercial facilities are on the ground and operational at this stage. However, a number of new facilities are to come both in IT/ITeS and aerospace,” Moore explains.
Locations in the limelight are Hebbal and localities close to NH-7, Thanisandra Road-Heggade Nagar, Hennur Road and Yelahanka-Doddaballapur Road. The presence of good international school, hospitals, retail and other social infrastructure has provided good support for residential growth.
According to Moore, “Some large new large projects have been very successful where they have delivered well-connected and located, good quality affordable properties for the average buyer and tenant moving into the area. The more affordable properties have now shifted further out towards Yelahanka.”