Being the fifth biggest city in India with a populace of 10+ millions, Bangalore is a standout amongst the most favored investment destinations of India. It is otherwise called as Silicon Valley. It is one of the quickest developing urban cities of southern India since few years. The realty market of Bangalore is overwhelmed by private and business ventures, where the demand for 2 and 3 BHK apartment are high. The potential purchasers are searching for reasonable housing, which is furnished with world class amenities and adds value to the standard of living. One of such an ambitious project is Namma Metro, which is considered a significant milestone in improving the growth of real estate in Bannerghatta Road.
Some of the remarkable development that has occurred on Bannerghatta Road due to the construction of Namma Metro are:
The immediate effect of Namma Metro is the expansion in infrastructure activity along the corridor expecting better connectivity. Infrastructure development is already at its pinnacle 2-3 years before the start of the metro line.
1. All Grade A developers have procured land banks amid the development stage fully expecting higher valuation.
2. In Bangalore, smaller scale markets, for example, Tumkur Road, Kanakapura Road, and Mysore Road, which prevalently had plotted developments and single family developments before the declaration of the metro corridor saw a few extensive scale residential townships created by Grade A developers.
3. Amid the development stage, five new shopping centers have been commissioned along metro lines to be specific Mantri Square, Prestige Falcon City, Brigade Orion, and One MG Mall.
1. Grade A developers have been exploring for land parcels within walking distance from metro halls in CBD areas. There is restricted accessibility of land along the metro hallway in the CBD (consequently constrained supply) and an expanded demand for office space because of better connectivity has brought about a 20%-25% rise in rental values in CBD areas since the start of metro activities.
2. Grade A developments as per international norms can be expected in key areas inside walking distance from metro lines. Amalgamation of land parcels would be critical to such improvements.
3. Off-central areas, for example, Yeshwantpur and Magadi Road, which presently have developed social and residential foundation will observe commercial development as a major aspect of mixed use townships or in the office retail complex formats with a focus on working spaces, new startups and professionals.
4. A delay in the land construction and acquisition action of metro Phase II and IIA, will result in peripheral regions of Mysore Road and Kanakapura Road is witnessing commercial activities. These areas will observer bigger campus style developments. Companies that as of now have a nearness in Bannerghatta Road are likely to expand in these areas.
1. 30% expansion in residential absorption in off-focal West and off-central expected; price rise is expected to be 1%-2% higher than the other small scale markets.
2. Amalgamation of plots in off-central areas like Indiranagar, West of Chord Road, Malleswaram, Vijayanagar, etc and an expansion in apartment developments in these areas.
3. Aside from luxury and premium portions, these areas will observe the development of more new items, such as serviced apartment, micro-units, and rental housing.
Looking for an apartment at Bannerghatta Road? GR Group is launching exciting projects with world class amenities in South Bangalore. Contact us : +91 886 120 4263
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