PRR will fuel more development in Bangalore
Jan 13, 2014
Source : The Times of India


BANGALORE: The revival of the Peripheral Ring Road (PRR) project is an indication of more commercial belts and development around the city over the coming few years. The PRR was originally planned by the Bangalore Development Authority (BDA) to ease pressure on the Outer Ring Road (ORR). The heavy vehicular traffic such as trucks, passing through the city on their way to other States in the south, can use this road rather than the outer fringes of the core city localities. Also, those moving around the city from one suburb to another can use this road, and avoid the ORR and other arterial roads within the city. A considerable number of vehicles using the core city roads will thus be off them, easing the traffic condition.

The PRR will also translate to more land parcels – both commercial and residential – being opened up for development. As witnessed in the past, all it takes for a locality to turn into a prime commercial and residential belt in Bangalore is a wide road connecting it to a core city belt. Many of the extensions that are holding promise now such as the Devanahalli belt, Hennur Road and Hoskote belt will get a boost with this project augmenting the vital connectivity factor.

Bangalore, that was once an agglomeration of small hamlets has changed into a regional commercial nerve centre, thanks to the connectivity that projects such as the widening of arterial roads, the ORR and the recent flyover projects brought about. With each of these projects, more potential commercial belts opened up for development. With a space crunch in the established IT belts in the southern and eastern parts of the city, given the augmented connectivity, more localities found favour as IT hotspots. The ORR turned into a micro market hosting significant IT development, especially along the Hebbal-Marathahalli-Sarjapur Road belt.

The next phase in the course of the city’s growth seems to be in integrated development with the concept of walk-to-work promising to catch on. Integrated developments that host office spaces, malls, hospitality, healthcare, education and entertainment need large land parcels. It is more feasible on the outskirts for both developers and end-users. The land cost being relatively lower here at this point in time makes it possible for developers to take advantage of the PRR connectivity and plan such developments.

In the coming years, cost of owning real estate in the present core city areas will be even higher. Also, land for sprawling developments will not be available easily. Such large developments will become feasible in localities that are inaccessible now with inadequate connectivity. For, end-users, entrepreneurs and investors alike, the PRR is a project to track closely.

Latest Realty News

Quota for OBCs in cooperative institutions, housing promised
Jan 13, 2014
BANGALORE: Chief Minister Siddaramaiah on Sunday promised that his government would consider giving reservation to people belonging to other backward classes in cooperative institutions and housing under the Bangalore Development Authority, the Karnataka Housing Board, urban development authorities, municipal institutions and the Karnataka Slum Clearance Board in the State.
Vested interests alter BDA land boundaries
Jan 13, 2014
BANGALORE: It has now come to light that the boundaries of the land in survey number 20 of Nagadevanahalli (Kengeri hobli), where Bangalore Development Authority (BDA) had formed Visvesvaraya Layout, were changed and survey sketches altered to benefit vested interests.
Cognizant buys Hyderabad office space for Rs 112 crore
Jan 13, 2014
BANGALORE: Nasdaq-listed IT software firm Cognizant has bought a 11.04-acre land parcel that includes a 250,000 sqft operational office space facility in Hyderabad, from Bangalore-based technology park developer DivyaSree.
Demand for office space set to perk up
Jan 08, 2014
BANGALORE: In 2014, the real estate market is likely to see an increase in activity. Sanjay Dutt, Executive Managing Director (South Asia), Cushman and Wakefield, says, “With the economy expecting more stability in the post-election phase from 2014, the absorption trend is also expected to pick pace, especially in established markets of Bangalore, Mumbai, and the NCR.”
Houses that can be transported
Jan 07, 2014
BANGALORE: How much time does it take to build a house? Four to six months, at least? Well, here is a technology that helps build a minimum of four houses a day. These are ready-made houses built in the factory with the amenities required and transported to the construction site. Of course, this is applicable only for vertical or group housing structures such as apartment complexes and hotels.
Revenue site registrations shoot up in Bangalore
Jan 07, 2014
BANGALORE: There’s fresh hope for 2014 on the realty front. Buoyed by an uptick in the registration of sites and buildings in revenue pockets during the fag end of 2013, realty observers expect the momentum to continue till April.
IT park builders log on to on-campus homes
Jan 07, 2014
BANGALORE: Eight senior India executives of Dubai-based Landmark Group have bought homes, priced between Rs 1.3 crore and Rs 10 crore, in 77 Town Centre, a tech park that's coming up near the old HAL Airport here. The decision to buy was taken after Landmark decided to take up close to 4,00,000 sq ft of office space in DivyaSree's project.
New home launches in Bangalore break records
Jan 06, 2014
BANGALORE: The country’s IT capital saw the highest number of new residential property launches between January and September of 2013 among Indian cities. The final number for the year could be the highest ever for the city.
Office space absorption in Apac: Bangalore to be ‘2nd-most sought after’
Jan 04, 2014
BANGALORE: Bangalore is expected to see the second-highest office space absorption in Asia Pacific (Apac) region for 2014 after Tokyo, according to real estate services firm Cushman & Wakefield. According to the report, the southern metropolis is set to absorb 5.6 million square feet (msf) office space, a growth of 16% over the previous year, with most of the demand coming from the expansion of the IT, ITeS industry.
Commercial, retail segments pick up pace in Bangalore
Jan 04, 2014
BANGALORE: For the real estate sector across India, year 2013 did not bring much activity and the same was for Bangalore too. However, the Bangalore real estate market showcased a stable picture, in terms of pricing and actual transactions. The developers have now pinned their hopes to 2014 and expect that with the country-wide realty sector set to gain momentum after general elections, Bangalore will be benefitted as well. The city is driven by the information technology sector and with major I

Latest Realty News Of State

Realty Talk's