The stretch in the area in the Hebbal flyover upto Devanahalli is abuzz with plans for many commercial projects. The recent Global Investors’ Meet, brought the therapy lamp into focus. Many industries have evinced keen interest in a few industrial parks which are coming up on 3,000 acres of land in this area and will also be prepared to occupy by the end of this year.
The widening in the Bellary Road and future connectivity with the planned Peripheral Ring Road (PRR) has also made this area a sought-after one. The PRR is aimed for connecting Tumkur Road, Hosur Road, Mysore Road, Magadi Road, Bellary Road, Old Madras Road, and improve use of Devanahalli. This is spurring interest in residential options around these areas.
Based on findings from real-estate firms, there are particular locations like north Bangalore which are buzzing with activity. This is because of infrastructure developments such as the new air port, the metro project, flyovers, underpasses and road widening activities, which are encouraging developers who anticipate an improvement in demand. “Presently, real-estate in North Bangalore is undergoing rapid transformation because of commercialization. Also, it is noticeable the region has significant residential real-estate activity, in addition to commercial developments.
The availability of land parcels for commercial development is among the main factors driving growth and development of Real-estate in North Bangalore. The demand keeps growing without having corresponding supply within the pipeline, in addition to the existing tech park here. Other significant factors will be the proximity towards the airport, road projects and upcoming residential and hospitality developments.
Over 3,000 acres of land, hardware, IT/BT and aerospace parks will be coming up near the air port. There is also provision to formulate residential facility for individuals in those industrial plants inside 250-300 acres of land. Many of the leading developers of Bangalore and Karnataka Housing Board (KHB) happen to be provided land. 100 acres happen to be used on the KHB and 25 acres to personal developers. Many of the projects have been approved plus some are under consideration. While Ninety percent in the space will be allocated for industrial and commercial activities, 10 % in the space is reserved for housing.
You can find land parcels over 10 acres accessible in this micro market. The Prestige Falcon City and the Greater Peenya project coming up may also have a tremendous touching on the growth in this area, because of the connectivity factor.
Additionally, growth and development of infrastructure takes high priority in this area.
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