BANGALORE: From housing some of the oldest localities in Bangalore, the south has stretched far beyond to witness development up to Hosur. The main factor pushing growth has been the proliferation of the IT/ITeS sector in this belt. Civic projects such as the Hosur Road expressway, the upcoming Metro line, good social infrastructure and lower land cost towards the peripheries have led to residential development along this corridor. Some of the localities that have come into focus are J P Nagar, BTM Layout, Banashankari, Uttarahalli, Bellandur, HSR Layout, Sarjapur Road, Hosur Road Electronics City, Jigani, and Attibele-Anekal Road.
Shrinivas Rao, CEO – Asia Pacific, Vestian Global Workplace Services, says, “The growth/expansion in the IT/ITeS sector, growth in the manufacturing sector, improving social infrastructure and better connectivity are the factors responsible for residential properties in this region.
There has been an increase in residential developments due to the expansions of established residential locations of Jayanagar and J P Nagar in south Bangalore. Kanakapura Road is presently classified as an ‘upcoming micro-location’ due to improvement in infrastructure and proximity to Electronics City. Other areas gaining prominence include Mysore Road, Begur Road and Bannerghatta Road (beyond NICE Road). Absorption has been observed in Grade-A projects before NICE corridor.”
Albert Manuel, an IT professional, bought his first home in August this year. He elaborates on the factors that led him to purchase a two bedroom apartment at Arakere, near Bannerghatta Road. “The apartment is at a walkable distance from the main road. There are no water issues with a good view of the lake nearby, and plenty of options in schools for my son. The floor area and the design requirements matched my expectations and were best-suited for my budget. In addition, since I hail from Mysore, it is convenient for me to visit my hometown while avoiding traffic hassles”.
Hosur Road expressway, connectivity
Covering close to 10 km on the busy NH7, the elevated expressway, along with the presence of the Outer Ring Road (ORR), came as a boon to commuters travelling to and from the city. Better connectivity coupled with an expanding IT belt led to increased demand for residential options in a wide price band. Bommanahalli, Begur Road, Electronics City, Haralur Road and Hosa Road are some residential localities that have gained due to better connectivity.
Hosur Road has particularly witnessed hectic residential activity over the last 5-7 years with integrated townships and large-scale residential projects. This micromarket has witnessed the rise of a range of options in the affordable housing segment along with some options in the mid-range and luxury segments, especially in the Chandapura-Anekal belt, BTM Layout and Madiwala.
The completion of the NICE Ring Road which links the two major arterial corridors of Hosur Road and Tumkur Road, the proposed Metro Rail Phase II connecting Nelamangala, BTM Layout and Bommasandra are other factors that will give a boost to connectivity.