Industrial hub pushes demand for housing in Hoskote in Bangalore
May 31, 2014
Source : The Times of India

 

BANGALORE: The growth story of Hoskote and its surrounding areas has been phenomenal. This growth story has been pushed by the fundamentals of development for any region connectivity and good social infrastructure.

Located in the eastern zone of the city, this township has grown owing to the presence of more than 400 manufacturing industries in the region.
The Karnataka Industrial Areas Development Board (KIADB) has spurred this development with its well-planned industrial zones.

The Narsapur Industrial Area in Kolar District, which is located 53 km from Bangalore, is developed across three phases. Spread across a total area of around 4,000 acres, the combined phases of the Narsapur Industrial Area has prominent Japanese firms as well as Indian manufacturing giants.

“Vemagal is being developed as an extension to the Narsapur industrial belt. Located between the Bangalore and Chennai region, and coming in the region of the proposed Bangalore-Chennai Infrastructure Corridor (BCIC), the KIADB has developed this new industrial area in two phases. While it has acquired 660 acres so far in the first phase, the second phase will come up on another 1,000 acres,“ says Gurudutt Shanbhag, an industrial consultant with the KIADB. Vemagal is located on the Kolar-Devanagiri State Highway.

Interestingly, Hoskote has the added advantage due to its geographical location. Development is happening from the Chennai end as well. NH4 the Bangalore-Chennai expressway is well developed and has good connectivity to the western and southern parts of the city. It also connects to Oragadam, which is an established industrial location outside Chennai. “Compared to other townships, Hoskote has excellent social infrastructure such as schools, hospitals and shopping areas,“ says Pramod Kumar S, President, Hokote Industries Association.

Infrastructure The factors that make Hoskote an ideal satellite township include the upgradation of the Hoskote-Chintamani Road, rail link between Whitefield and Kolar with a station at Narsapur, road to Devanahalli and the international airport, as well as the BangaloreChennai Infrastructure Corridor connecting Hoskote via Malur up to Chennai.

Residential catchments The road to Hoskote from the city is witnessing the development of a mixed range of housing. Plotted developments as well as mid-range housing are available here. Since the Hoskote industrial belt is an emerging automobile and aerospace hub, the demand for high-end residential units is on the rise too. The development of the industrial corridor is also pushing this locality as a prominent residential catchment.

A comprehensive plan for this Andhra Pradesh-Chennai-Bangalore-Mumbai business corridor, also called Peninsular Region Industrial Development Corridor (PRIDe corridor), is being drawn up and this will see the development of townships along this corridor. Areas such as Budigere Cross, Hoskote and its surrounding areas, where land is still available at relatively lower rates are seeing the development of residential layouts.

According to Anuj Puri, Chairman and Country Head, JLL India, there are expectations from the newly formed government at the Centre. India’s housing shortage is considerable, and the government has always kept low-cost housing in focus. Since the industrial belts of Narsapur and Vemagal will also see the need for low-cost housing, this may augur well for the realty sector. “The new government may look at helping with quicker land acquisition, faster approvals, easy and low cost funding, and better infrastructure to make it a more interesting proposition for developers and investors“, explains Anuj.

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