BANGALORE: Bangalore always had one major advantage large land parcels that were available at low rates. The only push needed to unlock their value and leverage their worth was accessibility. While on the one hand the Karnataka Industrial Areas Development Board (KIADB) began acquiring large tracts of land, the Bangalore Development Authority (BDA), the Bruhat Bangalore Mahanagara Palike (BBMP) and the National Highways Authority of India (NHAI) worked to bring the civic infrastructure up to cater to and fuel further development.
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These projects have led to several localities in the suburbs opening up and witnessing significant growth. Development taking off in Electronics City and Whitefield, the BDA began the Outer Ring Road (ORR) project with a view to connect these commercial hubs. This key link road also channelled traffic travelling towards the outskirts through the already-congested city roads.
It was classified as a mutation corridor, promoting commercial and mixed-use developments for up to 15 km from the city center. About 30 percent of the total operational IT/ITeS office space is concentrated in this corridor. It emerges at the top on occupiers’ lists due to easy connectivity, proximity to residential catchments as well as favourable rentals.
Localities around KR Puram, Hennur, Banaswadi, Sarjapur, Hosur Road, HSR Layout, BTM Layout, Kasavanahalli Main Road, Hebbal, Tumkur Road and more recently, Mysore Road and Magadi Road have benefitted from seamless connectivity. With the initiative to make the Hebbal-KR Puram stretch signal-free, travel time will come down between the north and the east, promoting commercial as well as residential development along this route.
Hosur Road elevated expressway
This expressway runs through the first and most densely populated IT belt in the city. Thanks to this project, travel between the Central Business District (CBD) and outlying areas such as the industrial areas of Jigani and Bommansandra, Electronics City corridor, Sarjapur Road belt and residential localities around has become smooth. The south is now expanding further outwards towards Attibele and the Chandapura-Anekal belt, where the budget housing segment is doing well. Other upcoming locations here are Hosa Road and Haralur Road.
The BBMP also has plans to widen key roads such as Sarjapur Road, Kanakapura Road and Bannerghatta Road, which will further improve connectivity and enhance the growth prospects of locations around. Bellary Road elevated expressway The 22 km expressway over Bellary Road was one of the most anticipated projects, with the relocation of the airport to the north. While the ORR and the Hebbal flyover spurred development up to Yelahanka; the airport, initiatives by the government such as the Hardware Park and Aerospace Park, and the expressway have taken the pace of development beyond Devanahalli.
Bangalore north is now said to be the next growth corridor with IT and industrial development, rise in residential options from the premium to the affordable and the presence of good social infrastructure. Some of the key residential locations in the north are Banaswadi, HRBR Layout, Hennur Road, Thanisandra Main Road, Bellary Road, Yelahanka, Kogilu, Chokkanahalli, Bagalur Road, Doddaballapur Road, New Town Yelahanka and Jakkur.
Tumkur Road elevated expressway
The next phase of growth in the west is expected to take off along Tumkur Road. In the past two years, Tumkur Road and its neighbouring locations have gained momentum due to the availability of large land parcels and improved connectivity . The high way along with the elevated expressway has made travel easy towards Nelamangala in the outskirts. This had turned the Bangalore-Nelamangala Tumkur corridor in the north-west into an emerging growth corridor with the development of industrial areas in Peenya, Nelamangala and Dabaspet, and the announcement of the Bangalore-Mumbai Industrial corridor.
The planned Peripheral Ring Road will further connect the key arterial roads of Bellary Road, Old Madras Road, Hosur Road and Sarjapur Road with Tumkur Road, promoting development along this route. Connectivity through the NICE Corridor has given impetus to development in this region. Locations around Tumkur Road recorded the highest average annual capital appreciation of 20-25 percent.
According to an analysis by Vestian Global Workplace Solutions, this micro-market was previously looked at as an industrial location, and is now undergoing a shift with the Metro connectivity. However, over the long term, the proposal to shift units within Peenya Industrial Area and the micro-location’s proximity.
The Metro is one of the most ambitious projects to cater to the expansions of a fast-growing city like Bangalore. While Phase I of the Metro connecting key city areas is expected to be fully operational by 2015, Phase II will see the extension of Phase I lines connecting Whitefield in the east, JP Nagar in the south, Kengeri in the west and Nelamangala in the north.
In addition, two new lines will run from Nagawara to Gottigere and BTM Layout to Bommasandra. This phase is expected to be operational by 2019.