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.

Latest Realty News

Southern landlord Pai plans to list investment company
May 26, 2014
BANGALORE: South India's biggest landlord, Dayanand Pai, is looking to unlock close to Rs 1,000 crore by taking his newly created Century Real Estate Investments (CREI) for an initial public offer (IPO), people directly familiar with the matter said.
Infrastructure pushes commercial realty in micro-markets
May 23, 2014
BANGALORE: The city’s realty market’s dynamics changed with the IT revolution that swept across its landscape. The ‘Information Technology Capital of India’ soon became a thriving hub for professional education and employment opportunities, and its realty market started booming.
Political stability will act as a catalyst for revival of realty sector
May 18, 2014
BANGALORE: Real estate sector expects growth to come with clear mandate to one party.“With so much riding on the general elections, we are happy that the results indicate a stable and progressive government coming in place. The last couple of years were not the best years for the Indian real estate, and the slowdown impacted all asset classes,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.
Pay property tax even on holidays this month
May 10, 2014
PUNE: The civic administration has planned to keep the property tax payment facility open even on holidays this month, so that the maximum number of citizens can avail of the discount offered on payments made before May 31.
Bangalore’s high-end realty draws NRI investors
May 10, 2014
BANGALORE: With the drop in rupee value and foreign currency getting stronger, many NRIs are evincing interest in picking up residential property in the city. Bangalore is being viewed as a luxury market destination and ticks many of the boxes that work in favour of a good city to invest in.
Bangalore ORR witnesses growth in office space market
May 09, 2014
BANGALORE: The Outer Ring Road (ORR) was the first significant civic infrastructure project that connected Bangalore laterally. While connectivity was enhanced cutting travel time considerably, it led to rapid commercial and mixed use developments along this belt. The Hebbal-KR Puram-Sarjapur Road stretch of the ORR has emerged as one of the preferred commercial hotspots, leading to hectic residential property development in localities around.
Xander, Dutch pension fund APG to go on $300m office buying spree
May 08, 2014
BANGALORE: Emerging markets investor Xander and Dutch pension fund APG have partnered for a Indian venture that would deploy $300 million (or Rs 1800 crore) to buy tenanted office spaces across the country's top metros.
Global PE funds more than doubled investments in Indian realty: C&W
May 08, 2014
BANGALORE: Global private equity funds more than doubled their investment in India's real estate sector in the quarter to March as they foresee an improvement in economy leading to stable long-term yields, according to a report by brokerage Cushman & Wakefield, PE funds invested Rs 2,800 crore in the country's commercial and residential real estate during the period, a 145% jump over the year-ago quarter, the report said.
Inflation makes rental income underperform
May 08, 2014
BANGALORE: I live in a centrally located area of Bangalore. A canal bifurcates the main road into the ‘rich’ and ‘poor’ areas. On the affluent side of the canal, hotels, restaurants and highrises dot the street. The real estate rates hover between Rs 12,000 and Rs 15,000 a square feet. On the other side – home to a garbage dump – the rates are about Rs 3,000 a square feet.
Property prices crash 30% as buyers hold on cash till election verdict
May 07, 2014
BANGALORE|MUMBAI|NEW DELHI: Not all asset classes have been on a bull run in anticipation of the election result on May 16, when votes will be counted. Stocks may have been surging over the past few months but the secondary residential market has been going the other way, according to anecdotal evidence and the data that's available.

Latest Realty News Of State

Realty Talk's