BANGALORE: Bangalore south has expanded horizontally as well as linearly with several new locations opening up for residential realty development. This can be attributed to two major factors – the growth of IT and initiatives to enhance civic infrastructure. Beginning with the Outer Ring Road (ORR), the Intermediate Ring Road (IRR) and more recently, the Hosur Road expressway, connectivity was enhanced to lesser known localities, spurring growth. This made it convenient for the significant IT population to find a range of options without worrying about access, leading to increased demand and further growth.
Elaborating on the upcoming suburbs in the south, Alexander Moore, Chief Executive Officer – India, LJ Hooker, says, “There are four major corridors in south Bangalore – Sarjapur Road, Hosur Road, Kanakapura Road and Bannerghatta Road. Existing suburbs around Sarjapur Road include Harlur Road and Bellandur; around Hosur Road, Koramangala, HSR Layout and Electronics City; around Kanakapura Road, J P Nagar; and around Bannerghatta Road, BTM Layout and Hulimavu. As for upcoming suburbs, while Chandapur-Anekal and Attibele are some emerging locations in the Hosur Road corridor, in the Bannerghatta Road corridor, potential suburbs include Gottigere, Arakere, with the spread taking place towards NICE Ring Road. The spread in the other two corridors is taking place along the highways and in pockets around.”
Idirees Chenakkal, Head – Research & Consulting, LJ Hooker India, adds, “To the south-west, while Kengeri is an existing suburb in the Mysore Road corridor, the spread is again happening along the highway in pockets around. Other major locations are Banashankari, Uttarahalli and Rajarajeshwarinagar.”
IT fuels demand
The presence of social infrastructure, sustained demand from IT-ITeS employees, upcoming Metro Rail development, presence of organised retail etc continue to provide an impetus for healthy transaction activity in the south. However, connectivity has played the most prominent role in opening up locations around.
Kalpana Murthy, Associate Director – Residential Services, Cushman & Wakefield, explains, “The NICE Corridor connects Bannerghatta Road, Kanakapura Road and Banashankari to Hosur Road and Electronics City, Mysore Road and Tumkur Road. The upcoming Metro line is going to improve the connectivity to all the key micro-markets. The ORR also offers connectivity to prime locations, especially the signal-free stretch from Silk Board junction to Hebbal facilitates improved transit towards the airport. This allows people to move to locations a little far off where they can find apartments for lesser capital value, but with good connectivity to other parts of the city.”
Chenakkal seconds her view. “As far as connectivity is concerned, Hosur Road developed faster than any other suburbs due to the elevated expressway and NICE Road. Other factors include proximity to workplace with good connectivity, availability and ease of transportation, presence of civic amenities and good social infrastructure.”