BANAGLORE: Mahadevpura, a strategically located micro-market close to Whitefield and Indiranagar has reported impressive growth in residential projects in the Jan-Mar 2013 quarter. In a matter of three months the area has recorded an impressive 24 per cent increase in per sq rate.
The average price currently being quoted in the area is around Rs 5,100 per sq ft. Developers are also optimistic about its future growth.
“Location, infrastructure, distance from work place and proximity to airport and railway station are some of the deciding factors when buying a home, and in all these parameters Mahadevpura scours high,” states Harshil Davankar, of Green City Developers, who has several key projects in the area. “Its landscape is defined by technology parks, sophisticated high-tech industries interspersed with a lot of greenery including parks and forest area.”
The locality was previously facing acute shortage of water and was unable to cope with the rapid growth that the area has been witnessing. But residents now claim that the Kaveri water has come within a short distance of several complexes. With water lines already laid out, residences are expected to receive water supply from the BWSSP lines shortly.
The micromarket also has two lakes – Varthur and Bellandur in the vicinity, which make good catchment areas for water. Hence, the underground water table is maintained at a healthy depth.
Infrastructure-wise the locality has developed extremely well. A narrow uneven road connecting Old Madras Road and Whitefield via Mahadevapura is today a four-lane well laid road. It is close to the Export Promotion Industrial Park (EPIP) zone, which includes the International Tech Park and the Export Processing Zone.
By virtue of its location Mahadevpura is fast developing into an area with high growth potential. All leading schools, shopping malls, showrooms have come up within a 50-ft radius of the locality, and yet it has managed to maintain the greenery and quiet that residential areas require,’’ observes Aditya Banwar, Proprietor, Spring Villa Developers.
Almost all top developers have projects at various stages of completion in the area. These include the Brigade Group, Nester Projects, Sterling, SK Builders and Nandi Constructions to name a few.