BANGALORE: The one reason why the Sarjapur Road stretch on the Outer Ring Road (ORR) is emerging as the top commercial and residential real estate destination in the IT city is because over 2 lakh IT employees working for multinational companies on the ORR continue to prefer the area for its easy accessibility to residential areas, SEZs and IT parks along the stretch.
Even though South and East Bangalore are nearing saturation, one area that is still seeing significant real estate action is Sarjapur Road. The capital values on Sarjapur Road have been about Rs 3,500 per sq ft, which is considered affordable compared to the upmarket Whitefield (Rs 5,000 per sq ft) and Koramangala (Rs 7,500 per sq ft).
The area witnessed real estate development much later compared to Whitefield and Marathahalli. But currently, on account of its proximity to the IT clusters around Madiwala, ORR and Whitefield, the Sarjapur Road stretch is attractive property.
In rental preference, the area occupies seventh slot. Avinash Rao, Regional Director-South, Knight Frank Pvt Ltd says, “Sarjapur Road is a well-established destination for real estate investment. Within a budget of Rs 20 lakh, there are various projects on Sarjapur Road that can give substantial appreciation in the future.”
Demand for 2 and 3BHK multi-storey apartments are mainly from people working in IT companies along this stretch. “With such a large base of IT professionals, the locality is expected to witness good demand in the long-term. Therefore, to realise good return on investment, one must stay invested for 3-5 years,” observes Ravindra Pai, MD, Century Real Estate Holdings Pvt Ltd.
Although the area lacks well-established social infrastructure, but some malls, hospitals and international schools exist and others are coming up. Sarjapur Road is also witnessing a huge commercial and office space development. The demand for office space along this stretch is due to its proximity to the residential catchments.