Suburbia Bangalore

Electronic City’s market thrives on residential demand

2013-01-12T02:57:00.001-08:00

If you have been looking for residential property in Electronic City, the commercial hub of Bangalore you may be scouting for the right location. Citing the demand, a number of developers are now building housing projects in the area.

Famous for IT companies such as HCL, Infosys, TCS and Biocon, Electronic City has witnessed a number of realty developments in terms of residential projects in the past four years. At present, there are 35 under-construction residential projects that are to be delivered within the next three years. 20 such projects have already been delivered. There are projects by eminent developers such as Godrej Properties Ltd., Prestige Constructions, Ajmera Housing Corporation, Concorde Group, SK Projects and DLF Group among others. All the new projects are offering 2 and 3BHK units with 1,150sq ft and 1,500-1,900 sq ft area, respectively.

The prevailing capital rate for residential property in Electronic City ranges from Rs 2,500-3,500 per sq ft. The rental values of 2 and 3 BHK are Rs 15,000 and Rs 20,000 per month, respectively.

The amenities offered with new projects include basic as well as luxurious facilities. Most of the big developers such as Mahindra Homes Pvt. Ltd., Patel Realty, Foyer Group, SJR Prime Corporation Pvt. Ltd., Godrej Properties Ltd. and Ajmera Housing Corporation are offering high-end amenities such as swimming pool, gym, club house, amphitheatre, meditation centre, tennis court and supermarket. This definitely keeps the pricing at premium in most projects, said realtors in the region.

A look at buyers in Electronic City suggests that surrounding infrastructure plays a vital role in pushing the demand. “The workforce of IT companies as well as hospitals and educational institutions play the key role in fueling the demand for residential property in Electronic City,” says Iqbal Sharieff from Sapphire Estates, a local realty firm.

While explaining the development factors in Electronic City Sharieff adds, “Good connectivity to Whitefield, Bannerghatta Road, Hosur Road, Kanakoura Road and Sarjapur Road also contributes to the realty developments in the area.” Thus a lot of demand comes from these areas. Having so many under-construction and upcoming residential projects, Electronic City is set to become a prime residential hub in Bangalore in near future.

Begur Road sees rise in property prices

2013-01-12T02:54:00.003-08:00

Road area in Bangalore is fast growing to be a hot property destination for the IT crowd. In the last couple of months the area has witnessed significant growth in real estate prices. The average price recorded in the area stands at Rs 2,942 per sq ft, an impressive increase of 21 per cent since the previous quarter.

The locality is strategically situated about 7 Kms from Electronic City, close to Wipro, Infosys, Siemens, BHEL offices. It is about 3 Kms from Bommanahalli Circle, supporting the NICE corridor connecting both Hosur Main Road and Bannerghatta Road.

“The off Begur Road area is strategically located, a quiet area away from the hustle and bustle and noise of the city, yet very close to several IT parks,” observes M Dinesh, proprietor of Shivapriya Builders. “This is the reason why the area has witnessed the growth of primarily high-end and mid-segment properties.”

Several apartments targeted at the upper mid-segment and high-end layouts have mushroomed along Begur Road. Some of the premium layouts that have developed in this area include the Royal Meridian, just off Begur-Road, about 2 Kms from Central Silk Board and Madiwala market; Aratt Felicita, an exclusive community of lifestyle flats in BTM Extension, based on Aratt Homes, featuring the finest in finishes and amenities and Radiant Redwood Luxury Apartment Complex.

The highest price commanded in the area stands at Rs 3,169 per Sq ft, primarily in the luxury layouts further off Begur Road, a growth of 18 per cent as compared to the last quarter; while the lowest rate currently being quoted in the area is around Rs Rs 2,715 per Sq-ft, a growth of about 24 per cent for the same period.

“The average price of a 2BHK apartment in this area till a few months back ranged from about Rs. 1200 per sq ft to about Rs. 2800 per sq ft; a very affordable number considering most of the projects are targeted at the upper mid- or the luxury segment,” states Ganesh Thimmaya, a real estate agent in this area. “Although prices have escalated in the last few months, they are still affordable, which is unique considering that the area is well connected and close to Electronic City.”

Silk Board becomes a hot residential destination

2013-01-12T02:52:00.001-08:00

Proximity to IT areas and educational institutions has led to a hike in property rates in Silk Board of Bangalore. The area is transforming into a sought after residential destination.

Due to its strategic location, buyers look for multi-storey apartments in this area. Huge demand from genuine buyers has pushed the sale price further by 26 per cent in October-December 2012 quarter, according to survey data. Multi-storey apartments in Silk Board are in ready-to-use form and are available from price range of Rs 3,500 to Rs 6,000 per sq ft, depending upon the amenities and builders. Apartments with ample parking spaces, service lift and other basic amenities are available for Rs 6,000 per square feet.

Situated around the outer ring road, the Electronic City is just 10 kilometres away. Marathahalli IT area and ITPL are also in close proximity. The area is also close to International airport which is also one of the key reasons.

“Silk Board has good connectivity to major areas of Bangalore like HSR Layout, Koramangla, BanShankari, etc. Following the IT boom, the area is witnessing an upward trend,” said Abhinav of Abhinav Shelters.

The buyer investor ratio in the area is 90:10, say realtors. Buyers in this area are mostly from the IT sector. “Due to good roads, green area and moreover good climate, people working in the offices buy apartments here,” he adds.

The area offers a mix of configurations. A high-end 2BHK apartment in the area is available in two sizes- 1,200 sq ft and 1,000 sq ft. “A 3BHK, high-end apartment come in sizes ranging from 1,400 sq ft to 2,000 sq ft,” he adds.

Both configurations are equally in demand. In high-end configurations, there are firms such as Shobha Developers, Prestige Group, Mantri Developers, etc. Mahavir Group is also one of the developers when medium-group apartments are concerned.

Uber-premium properties to dot Hebbal now

2012-08-05T23:36:00.000-07:00

Once the end point of Bangalore city in the north,Hebbal is set to redefine its stature over the next five years.Taking into account launched residential projects and projects that are to be announced in the coming months,with the Hebbal lake as the centre point,a whopping 2,000 residential units,mainly apartments,are set to come up in the area.And whats interesting is that all units are priced above Rs 1 crore,of which close to 1,000 units are priced above Rs 2.5 crore.

This development can be geographically split into two parts one part of the development is around the Manyata Embassy Business Park,and the other is along a 3-km radius on Bellary Road from the Hebbal lake.As J C Sharma,MD,Sobha Developers,puts it,This stretch will be the new M G Road of Bangalore. Hebbal is where the new Bangalore is going to be.Hence,the demand, says Jitendra Virwani,CMD,Embassy Group,adding that most of the infrastructure projects on Bellary road are running ahead of schedule.Besides primary infrastructure,the area has attracted a lot of social infrastructure like high-end hospitals and schools thats fuelling real estate development.

In the Hebbal micro-market,availability is low in the Rs 60- to Rs 90-lakh segment,and the new products being launched are in the higher price segment of above Rs 1 crore, says Karun Varma,MD (Bangalore & Kochi),Jones Lang LaSalle India,a real estate consultancy firm.

From clubhouses in the sky to designer homes by Jade Jagger,to apartments that tower 40 floors high,Hebbals skyline would represent a bespoke luxury lifestyle.

REALTY SHOW

In the pipeline: 2,000 residential units,mainly apartments,priced over Rs 1 crore Price range: Some 1,000 of these units priced well above Rs 2.5 crore Drying up: Availability of units in the Rs 60-90 lakh segment is very low

BULGE BRACKET

Some sport bespoke luxury lifestyle: clubhouses in the sky to designer homes.A few apartments are 40 floors high

Second-home buyers zero in on Hebbal properties

Even in times of real-estate ebb,Hebbal is the new destination for those seeking high-end,premium addresses.

But why Hebbal Basically,you are targeting the second-home buyer who cant afford to buy on Palace Road or in Sadashivanagar or in any of the other central locations, says Cherag Ramakrishnan,CEO,Equinox Realty,who is developing a high-end residential unit,Waters Edge,near Manyata Embassy Business Park.Besides Equinox,Mantri Developers,G:Corp,and Karle have also launched projects in the same vicinity.Golden Gate Properties is also slated to launch a high-end residential project in the area.

There is a shortage of high-end space within the city limits,and here you have a destination thats 15 to 20 minutes away from the city centre,and has land available, adds Jitendra Virwani,CMD,Embassy Group.
Bespoke projects from RMZ,Embassy,and Godrej Properties,priced above Rs 2 crore,have been launched along the Bellary highway after the Hebbal flyover.Century,Brigade and Salarpuria have also planned high-end projects in this area.Last year,Sobha launched its mega township project of 1,500 units Sobha City located off Bellary Road.The average per sqft rates that developers are quoting is in the range of Rs 5,000 per sqft to Rs 8,000 per sqft.

The airport has definitely magnetized this part of town as it attracts a lot of senior management of companies.Hence,you see the pricing in the area is line with the customer profile, says Raj Menda,CMD,RMZ Corp.

Interestingly,the spike in residential activity in the region has brought back some amount of investor demand,though developers reiterate that Bangalores residential market is very much end-user driven.There has been a lot of interest from investors from Mumbai and Kolkata for high-end projects in Hebbal, says Sudeep Chandran,owner,Terrafirma Developers,adding that 15% to 20% of offtake seen in Hebbal is by investors.However,there are no signs of bulk buying by investors,which could potentially create a price bubble.

The senior management of IT companies is looking at north Bangalore as an investment opportunity.As of now,they are investors.Once the developments are ready,many of them would become end-users, explains Ram Chandnani,deputy MD of South India CBRE South Asia,a global real estate consultancy firm.

Says Farook Mahmood,CMD,Silverline Group,Bangalore is turning to be a very mature market,and our prices are still one of the lowest as compared to other metros.

According to another global consultancy firm Cushman & Wakefield (C&W),The purchases in Hebbal are mostly led by long-term investors and the prices have appreciated consequently. Considering the first two quarters of 2012,C&W says,Hebbal has witnessed a price appreciation of around 8% in the high-end residential segment

WHITEFIELD SHOWS THE WAY TO REALTY GROWTH

2012-08-05T23:32:00.003-07:00

This area has emerged as a successful development model

Whitefield,once a sleepy suburb,is now an example of what connectivity and realty development can do to make a suburb a self-sustained model.The Outer Ring Road (ORR) paved the way for the area to spread out and grow.The emergence of the IT Special Economic Zones (SEZs) gave way to residential catchments and retail hubs.

Retail growth

"Each of these high streets,multiple malls and mini markets are but a representation of the new living standards of Bangalore.What is spectacular about Bangalore is that new suburbs get created with residences,offices,shops,parks and restaurants,"says Kumar Rajgopalan,CEO,Retailers Association of India.

Whitefield is a thriving micro-market.By the end of this year,a first-of-its-kind wholesale market will open here which is pegged at an investment of over Rs 100 crores.Spread across 10 acres,this will have 10 lakh sqft of developed area.

Commercial belts
According to Naveen Nandwani,Director - South India,Cushman & Wakefield,"Whitefield has witnessed a rise of commercial space which in turn has fueled the growth of residential and retail real estate.Currently,24 percent of the city's commercial stock is located in Whitefield.There is about 21.37 million sqft of commercial stock available of which 4.43 million sqft is in the Special Economic Zone.By the end of this year,the total stock in this location is expected to rise by 1.07 million sqft.Tenants have expressed interest in taking up space in Whitefield and so the maximum absorption has taken place in Whitefield in the first two quarters of 2012."

Due to the availability of land parcels,Whitefield is expected to witness further real estate growth.Already,most major developers have a presence in the Whitefield residential real estate.Currently,there are also many under construction projects in the middle residential segment.Mostly villas are coming up in the high-end residential segment.

"Around 2.03 million sqft of retail mall space is already operational in Whitefield and 0.36 million sqft of retail supply is expected to be added by the end of this year.Marathahalli junction is the nearest high street to Whitefield.Due to the current high supply of retail space in this micro-market,the rentals are expected to remain stable in the short term.However,once the residential projects in Whitefield are completed,the demand supply scenario is expected to be balanced,"adds Naveen.

The presence of hospitality majors in this belt has made it convenient for corporates to drive into Whitefield from the international airport,stay at top-end hotels near the offices and head back.Five-star luxury hotels are already operational and around 1,500 rooms are available in the Whitefield micro market.Many prominent new hotels are expected here.Currently,the average room rentals are stable and are expected to continue.However,the room supply in Whitefield is expected to see a jump of 45 percent in the next two years.So,the hotels may extend special customised offerings in the future.

Devanahalli develops into new realty hub in Bangalore

2012-06-12T03:15:00.003-07:00

Popularly known as the Silicon Valley of India, Bangalore has become one of fastest developing state of India. The city which is gaining heights as a business corridor has witnessed one of the most vigorous growth pattern and higher price route in property investment in comparison to other cities in India.

The property in Bangalore has been implying with steady growth and control in prices, has resulted in positive purchasing pattern from customers who intend to purchase plots, flats and villas in and around Bangalore.
The growth in Bangalore is not just inclined to the city area, but has also spread to the outskirt that includes Sarajapur, Hoskote and Devanhalli. All these places are bordered by the new international airport and other areas are covering Bangalore as a shell.

Out of all the above Devanahalli has emerged as a new residential hub and is slowly getting recognised as an upcoming town. The prices as observed by realtors make them believe that there has been an elevated price hike for residential plots in the recent times in the Devanhalli area. Since recent past though the land prices have seen a surge but as a good point the fact remains that the prices have not been too over shot and still stand in affordable range. If the market sources are to be believed, then this is the right time to invest so as to get higher return on investment.

Devanhalli is very tactically located on the NH 7 linking it to Hyderabad. Its close proximity to the International Airport and Devanahalli business park has led to higher rate of returns on investment. The place is going to get another major boost as the connectivity through railway will also be a reality soon as the work is underway already. All these factors have contributed for prices to appreciate and has resulted Devanahalli to become a hot spot for investment.

A top official from Tata Housing said "Devanahalli has huge potential for grabbing investors in times to come because of its close proximity to easily available amenities. It is strategically located and other developments such as coming up of 5 star hotels, Villas project, hospitals, restaurants etc are so handy that anyone can enjoy the benefits of the organisation. He predicts that in buying a property around Devanahalli will yield 3 fold returns in times to come." He further added that, one can expect a minimum of 30% appreciation in two to three years.

According to sources, the prices for residential plots have shown an average increase of 9% in the Jan-March 2012 quarter which depicts high appreciation rates as compared to other places.

Bangalore no wonder has been on the list of cities for increased property investments taking place because of huge inflow of FDI and multinational companies setting their business in Silicon Valley of India. Hence, Devanhalli which is close to most of the commercial places is no wonder coming one hot stop destination for realty boost as there are various factors catalysing its growth.

Marathahalli: Whitefield's bridge to the CBD

2012-06-09T01:52:00.000-07:00

A sizable chunk of the Marathahalli-Sarjapur stretch is covered with IT companies, and approximately one lakh IT-related employees work in the area.

That the IT boon resulted in Bangalore's real estate growing exponentially is no hidden secret. Several areas once considered sleepy hamlets were given a complete makeover by the entry of several IT-based companies. One such locality is Marathahalli. Considering its proximity to the Old HAL Airport which was an essential part of the IT boom in the 90s, several technology-based companies decided to make their presence felt here. With the Outer Ring Road passing right through the heart of Marathahalli, connectivity was never an issue.

Today, approximately 20 million sq. ft of commercial and retail space covers the Marathahalli area. A sizable chunk of the Marathahalli-Sarjapur stretch is covered with IT companies and approximately one lakh IT-related employees work in the area. This makes the development of any residential project hot property in the area. Marathahalli today can be considered an extension of the main city of Bangalore. There are several people who prefer its central location to Whitefield and that has also given a fillip to the area.

LOOKING CLOSER

Every builder worth his salt has a presence on this stretch. Though the main roads are largely saturated, the adjacent and inner roads are open to construction and there are several projects coming up here and are being lapped up by the public.

Of course infrastructure is another aspect that needs to be looked into. As such most builders make their own arrangements for the provision of power to their projects. Power lines are drawn from nearby substations.

As far as water is concerned, despite the demand in the area, it is not yet connected with the Cauvery water supply network. Promises of beginning the supply this year may be delayed till 2013-14. Though contractors have been hired for the job, the going is rather slow.

Traffic snarls are common in the area but this is largely due to the construction activities that are taking place. As and when projects are completed, these bottlenecks will clear up for themselves. With the completion of service roads, a signal-free corridor will be built which will add to the connectivity factor. Roads are rather congested right now especially around the Marathahalli-Sarjapur junction. If more attention is paid to the improvement of public transportation, considering the large techie population, there are chances of an improvement in the traffic flow.

Civic amenities are not in place right now and most home owners make their own arrangements.

GOOD RETAIL INFRASTRUCTURE

There are several good schools such as Ryan International School, Air Force School and Greenwood High on the Sarjapur stretch. Fortis Hospitals and VIMS specialty hospitals ensure that medical care abounds.

Innovative Multiplex was Bangalore's first multi-screen set up and came up in this area. It has massive retail infrastructure ensuring the area is self- sufficient.

Marathahalli can be viewed as a bridge between Whitefield and the rest of Bangalore. The quality of the constructions coming up here is top notch and you get your money's worth.

Should the government complete its end of the bargain as far as work on bridges and side roads goes, Marathahalli will be an ideal location to live in.

A concrete plan for Kanakapura Rd’s last surviving green patch

2012-06-09T01:46:00.002-07:00

One of the oldest surviving green patches on Kanakapura Road off Banashankari temple in Bangalore South will soon get a concrete face. The lush Nilgiri plantation, popularly known in the area as ‘Sarve Topu’, owned by the Khodays, has been transacted for a joint development agreement.

The 40-odd acres of plantation, which is part of a former glass factory, is being proposed for mixed use development — residential complex, IT spaces and a high-end mall. The land costs nearly Rs 12 crore per acre.

As Bangalore East has reached the saturation point in terms of realty development and Bangalore North towards Devanahalli is getting clogged, developers are now eyeing the Kanakapura Road.

The stretch between Sarakki and Talaghattapura connecting the state highway, which was once a village, is the most happening place, thanks to the Namma Metro cutting through the corridor. The adjoining areas, where the real estate prices had hit rock bottom, have woken up after the BMRCL announced and commenced the construction work.

The who’s who in the industry — Mantri, Puravankara, Brigade, Sobha, Nagarjuna and the latest entrant, Prestige Estates, are making a beeline to the place.

One of the early birds on the stretch were the Khodays, who set up a brewery and glass factory from 1972 onwards. A popular yesteryear watch brand, Hegde and Golay, was the first to set up its factory here.

Says Hari Khoday, the senior-most member of Khoday family and managing director of Khoday India Limited, “Prestige is doing a joint development project with us on our property.”

The 70-year-old reminisces the days when the area lacked even bus facilities. “When I came here in the 1960s, there were no buses. Farmers got the KSRTC to ply buses to the area. Though the stretch was a village, it woke up during 2005 onwards. We put up our brewery and glass factory after getting the land allotted by the area development board,” he says.

Majestic Developers managing director S A Rehman, who has an office at Sarakki Gate on the Kanakapura Road, said during 2002-03, the property price was around Rs 1,000-1,200 per sqft. In the subsequent years, it was around Rs 2,000/sqft. Besides the Metro, the corridor also saw a lot of good schools coming up.

“Once the Metro was announced and the road widening work commenced, the property prices shot up. With big realty houses stepping in, the corridor has seen a real boom. Now the prices are in between Rs 3,000-3,850 per sqft,” says Rehman, who has been in the realty industry for a decade.

MYSORE ROAD ENVIRONS ON GROWTH PATH

2012-04-13T05:41:00.002-07:00

Connectivity and availability of land make this region potential for investors

The realty development towards Mysore has grown much beyond the ambit of the Outer Ring Road (ORR) at Nayandahalli. This sector has always remained on the radar of property investors,owing to its proximity to Mysore and hill stations such as Coorg,Ooty and Wayanad beyond.The development along this corridor had been purely residential till recently.However,owing to the widespread residential growth,retail and office spaces are emerging in this segment of the city too.

The four lane State highway to Mysore opened up vistas for development in this region.The construction of the NICE corridor too has given a shot in the arm for development.With the Metro Rail work now under progress on this road,investors can look at reaping good returns on their investments along this route.

The Metro Rail's Phase II has a proposal to extend the network up to Kengeri.This will give a major thrust to development in the region,and may even result in the mushrooming of satellite townships.

Another development which will result in major plans in residential layouts is the move to lift the freeze on farmlands for development of satellite townships.The Bangalore Metropolitan Region Development Authority (BMRDA) had in 2006 taken steps for the development of integrated townships in Bidadi,Ramanagar,Solur,Sathanur and Nandagudi.These townships,they felt,would provide for complete workhome relationship and focused economic activity.Sathanur,near Magadi Road,and the industrial estates in Ramanagar and Harohalli on Kanakapura Road,now stand to benefit from this move.

Residential catchments

There are major industries functioning out of this region.These include automobile giants and IT majors.In order to facilitate the workforce to stay close to workplaces and also have a thriving social environment,the residential development is replete with facilities such as schools,hospitals,malls,multiplexes and is available in the form of layouts and apartments.

Rajarajeshwarinagar is one such layout which has seen widespread development and is now a micro market with most amenities in the vicinity,making it very self-sufficient.The road connecting Kengeri to Kanakapura and passing through Uttarahalli is now beyond recognition as the landscape has changed from that of a rustic one to a very urban form.

Gottigere is a locality to watch out for,given that under Metro Rail's Phase II there are plans to draw up an additional line from here all the way to Nagawara.

Between the State Highway 17 to Mysore and the NICE corridor there are many layouts to look out for.Apartments have come up in the Uttarahalli sector and with colleges and hospitals nearby,along with good connectivity,this region is fast-emerging as a preferred place to stay.The easy connectivity up to Kanakapura Road is another factor for the rapid development.Kanakapura Road is a bustling region with the Metro connectivity and industrial growth.

BEML Layout,Subramanyapura,and Banashankari V and VI stages are the areas to look out for which come on the left side of Mysore Road,as you drive towards Mysore.The areas on the right of the State Highway 17 too are equally well-developed.

QUICK BYTES

THE AREA AROUND MYSORE ROAD IS A HOT SPOT FOR REALTY DEVELOPMENT OWING TO GOOD CONNECTIVITY AND AVAILABILITY OF LAND PARCELS
MANY LOCALITIES ALONG THE MYSORE ROAD HAVE BECOME SELF SUFFICIENT AND BOAST OF AMENITIES AND GOOD SOCIAL INFRASTRUCTURE
THE PROXIMITY OF MYSORE ROAD TO KANAKAPURA ROAD IS ALSO PUSHING REALTY DEVELOPMENT IN ITS VICINITY
INDUSTRIAL GROWTH UPTO RAMANAGAR IS ALSO A FACTOR LEADING TO RESIDENTIAL DEVELOPMENT

Metro work in progress at Nayandahalli junction near Rajarajeshwarinagar

Bangalores billionaire club calls Jayanagar their home

2012-03-31T18:32:00.002-07:00

Conventional wisdom is that the rich live in distinct parts of the city.The old money in Sadashivanagar,Basavanagudi and Malleswaram and wealthy immigrants,especially of the professional / services class in Indiranagar and Defence Colony and more recently in places like Koramangala.Of course,the seriously rich of recent have fled into secure,uber luxurious gated communities on the outskirts of Bangalore.

But where do the seriously wealthy the ones who make the global rich list prefer to live in Bangalore The surprising answer is Jayanagar,the solidly middle to upper middle class suburb.A majority of the citys billionaires call this South Bangalore patch of land,home.The Jayanagar billionaire brigade includes Infosys co-founder and chairman emeritus N R Narayana Murthy and two other co-founders K Dinesh and SD Shibulal (current CEO of the company).GM Rao,chairman,GMR Group,also lives here.

The other billionaires are scattered across the city: Wipros Azim Premji lives inside the Wipro Campus at Sarjapur,while former Infosys CEO and UIDAI chairman Nandan Nilekani stays in Koramangala.So do Wipro CFO Suresh Senapathy and Infosys vice-chairman Kris Gopalakrishnan.Vijay Mallyas ancestral home,currently being redeveloped in to a swanky White House in the sky,is located on Vittal Mallya Road.

Proximity to Electronics City and Murthys penchant for a low key lifestyle are,perhaps,the main reason why the Infy crowd moved to Jayanagar.But theres more to it than that.According to realty consultants,Jayanagar has a sizeable target market in the residential space for the super rich.The key audiences according to Vestian Global Workplace Services,a global real estate and transaction advisory,and project services company,are: New/ outgrown families of business communities operating from MG Road,Lalbagh Road,Basavangudi,Jayanagar and Bangalore South regions;professionals such as stockbrokers and lawyers operating from locations in proximity to the stock market (on Lalbagh Road) and high court respectively;industrialists operating in Kanakpura Road,Jigani and Bomasandra;senior IT/ITeS professionals;and doctors and chartered accountants working in the CBD as well as in Bangalore South.Jayanagar is also emerging as a hot retail destination.Jayanagar 11th Main is one of the cardinal roads connecting Jayanagar to JP Nagar,Bannerghatta road,Banashankari,and other prominent markets,and also its close proximity to 4th Block Complex and market.All these factors have transformed this road into a sought after high street location, says Ram Chandnani,deputy MD of South India CBRE South Asia,a global real estate consultancy firm.

Five years ago,retailers spent anywhere between Rs 50 to Rs 60 per sqft on rentals in this area,which today has touched the Rs 250 mark,a whopping 400% increase.Some instances of rentals touching the Rs 300 mark have also been reported.

According to real estate analysts,leasing activities in Jayanagar 4th Block 11th Main have been on the upside and is highly coveted.Some prominent brands in the area include Reliance Jewels,Nike,Max Fashions,Louis Phillippe,Raymonds,John Players,Heath and Glow,Office Depot,Lee,Kalyan Jewels,Amoeba Bowling,Levis,Mc Donalds,KFC,and Metro Shoes to name a few.For these brands and similarly positioned ones,Jayanagar is in the top 5 of their priority areas,with 11th Main being the location of first choice, says Shubhranshu Pani,MD-Retail of Jones Lang LaSalle India.

Why suburb rocks

The strong preference for Jayanagar is primarily because of the suburb being a well planned layout,has a mature social infrastructure,its proximity to the CBD,has a fine mix of traditional and cosmopolitan population,and has a good urban infrastructure.

Vestian Global Workplace Services | GLOBAL REAL ESTATE COMPANY

Jayanagar has become the South Bombay of Bangalore.The suburb is a city within a city concept.

Sudeep Chandran | OWNER,TERRAFIRMA DEVELOPERS

PERFECT PLAN: RV Road a few weeks before Metro rail work began

The growth of Malleswaram from a sleepy hub to an emerging hotspot

2012-03-30T21:13:00.000-07:00

The Kaadu Malleshwara temple at Malleswaram

Mantri Square @ Malleshwarm

Malleswaram is developing at a break-neck speed but it still manages to retain its old world charm. A walk down Sampige Road and you can see a huge crowd of hip, 20 something girls and boys hanging out at the local eateries or busy shoppers making a beeline to high-end branded showrooms spread across the entire length and breadth of the road. Walk a little further and the iconic Mantri Mall greets you at the very entrance of Sampige Road, though it chokes the traffic and brings it to a halt at all times of the day, somehow people seem to throng this mall with great passion. Beyond the mall though, the road is still lined with small dingy shops in stark contrast to the almost larger than life structure of the mall.

Brigade Gateway @ Malleshwarm-Rajajinagar

Welcome to Malleswaram….an erstwhile hub of temples, trees and tasty oota that is now in the midst of a huge infrastructural transformation! Spread across from the Link Road in the East to the Railway line on the West and flanked by CV Raman Road in the North and Mahakavi Kuvempu Road in the South, today Malleswaram broadly comprises of areas like Sadashivnagar, Seshadripuram, Sripuram, Kumara Park, Vyalikaval, Subramanyanagar, Rajajinagar and even parts of Yeshwantpur. “Malleswaram is one of the older localities in Bangalore with good social infrastructure. Given that it is a very old colony, land is scarce as most of it has already been developed. But it is on the throes of development as builders are making a beeline for properties here,” appraises a senior manger of a leading real estate consultancy. particularly large bungalows have been razed down and very high-end commercial and residential buildings have come up which have changed the very face of Malleswaram,” explains Bijay Aggarwal, Managing Director, Salarpuria Sattva Group. There are a lot of new projects coming up like Mantri Greens, an integrated township project by Brigade Gateway and Embassy Heritage by the Embassy group. A few other builders have also got projects in the pipeline, including Salarpuria Sattva who plan to launch high-end apartments called Luxuria shortly.

“Malleswaram has developed into an alternate CBD today providing quality residential developments, commercial offices and glitzy malls with good retail options. One of the main reasons why Malleswaram is witnessing a huge facelift as compared to other older localities of the city like Basavanagudi is its proximity to CBD. Malleswaram is also the beginning of North Bangalore where the future of Bangalore’s real estate lies,” explains T S Sateesh, Managing Director, Hoysala Projects.

Another reason for the development in the area is its huge contribution to the IT industry. “Nearly 30 to 40% of IT employees are from this neighborhood. Their exposure to modern developments abroad and demand for quality residential space has pushed up the real estate development in this area,” he adds. However residents in the locality though still like it for its old world charm.

“Despite the change it is witnessing, Malleswaram retains the flavor of good old Bangalore. People still queue up during weekends to savor hot idlis at the Veena stores or the lip-smacking dosas at CTR on Margosa Road which is one of the best in the city!” says K S Narahari, Director- Corporate Communications at Texas Instruments who has been living in Malleswaram for the last 30 years.Residential apartments in the locality command a very good value particularly those who offer the latest amenities. Prices for residential built up range from Rs. 6000 – Rs. 8000 per sqft, depending upon the type of construction. Rates for commercial leasing range from anywhere between Rs. 50- 100 per sqft. With the Metro work almost nearing completion, the new Expressway on NH4 leading to faster entry and exit to and from here and the proximity to the International Airport, Malleswaram is the new gateway to North Bangalore which is fast emerging as one of the most sought after hotspots of the city!

Sahakarnagar is fast turning into a residential hub.

2012-03-26T02:19:00.000-07:00

Amongst the fast developing regions in the Secondary Business District of Bangalore, Sahakarnagar, covering an area of approximately 2.5 sq. km (about 600,000 acres), is emerging as a much-sought-after-destination, for builders as well as residential and commercial aspirants.

Given its proximity to a host of facilities such as retail infrastructure, offices, schools, and hospitals, not to mention the new Bengaluru International Airport, Sahakarnagar is seeing a spurt of development that is fast threatening to crowd the place in a few years from now, says a recently published limited circulation report by Jones Lang LaSalle (JLL).

Proximity to tech parks

Situated about 15 km from Majestic and about 13 km from MG Road, Sahakarnagar comes under the Byatarayanapura and Kodigehalli wards of the BBMP and Planning District 304 as per the BDA Revised Master Plan-2015. It has major commercial landmarks including the Manyata Tech Park covering 100 acres with 8 million sq. ft already operational, Kirloskar Business Park spread over 26 acres, and L&T Engineering Solutions (within a six km radius).

The Karle Town Centre, spread across 80 acres, has 26 acres set aside for IT-ITES SEZ, which is already notified, with the remaining area catering to commercial, retail and residential requirements.

Good connectivity

Sahakarnagar's connectivity too is good with the Hebbal Flyover and Outer Ring Road being there within a seven-km radius. The area is the nearest residential neighbourhood from the international airport, with proximity to Yelahanka as well as the CBD besides the NH-7 Bellary Road.

The area has also become an attractive destination because of its proximity to some of the top schools, including Trio World School, Ryan International School, and Canadian International School. Healthcare facilities such as Columbia Hospital, and Baptist Hospital near Hebbal, have augmented the social infrastructure development of this area.

There are also other attractions such as Esteem Mall, Bhupathi Tennis Village, Lumbini Park and Nagawara Lake in the vicinity.

Although Sahakarnagar predominantly had plotted residential developments, apartments too are coming in to accommodate the increased demand for residences.

The captive areas around Sahakarnagar have a working population of one lakh, employed predominantly in the IT-ITES and service sectors situated in and around Hebbal.

This group forms a potential demand for the residences available. The demand is a mix of both affordable as well as upscale projects, prompting both segments to feature in the area.

Attractive returns

Rentals range from Rs. 12,000 to Rs. 17,000 for a typical 1,100 to 1,300 sq. ft. two-bedroom apartment and this goes up to Rs. 25,000 for a larger size of about 1,800 sq. ft unit. The average annual increase in the rental value here is 8-10 per cent, compared to other residential locations in the suburbs of the city.

Sahakarnagar commands an investment potential of Rs. 46 lakh-96 lakh in a 1,200-1,800 sq. ft. residential unit, depending on the segment targeted.

A mid-segment project would cost 4,000 per sq. ft on average while the premium segment, targeting high-profile customers, exceeds Rs. 7,000. The average prices for residential apartments on the stretch between Hebbal and Yelahanka hover around Rs. 3,000-4000 per sq. ft.

There is going to be a significant increase in demand for residential units in the city due to new employment avenues created.

As a result, upcoming residential developments are expected to be absorbed in a short period of time.

Sahakarnagaris poised to witness faster absorption of residential units in the next two to three years.

Bilekahalli

2012-03-25T19:43:00.001-07:00

IT HAS HIGH-RISES but low water levels

IT Hub Bilekahalli Cries For Water,Civic Amenities

Where super-storied buildings dot the skyline today,Bilekahalli,until 20 years ago,was a small village along Bannerghatta Road.It was surrounded by JP Nagar,once the farthest end of developed Bangalore on one side and Arakere on the other.

Defined by a few hundred houses and farmlands,the area gained prominence with the establishment of IIM-B in 1983.Thereafter,it went on to became a hub of prominent companies like Honeywell,Accenture and HSBC between the early and mid 90s.Followed residential and commercial developments.

Today,it denotes all-round development and is a major IT hub too, says Syed Hidayath,director of a private firm.Builders saw potential in this area,which officially came under the Begur Hobli,Bangalore South taluk.
Between the 90s and into 2000,Bilekahalli was abuzz with IT companies.So apartment complexes dotting this road Epitome,Kolte Patil,Mantri and Ranka __ attracted young investors employed in the IT and multinational segments.Among them is Bharathan Aravamudhan,senior marketing manager in an MNC in the area.What attracted me here two years ago was the fact that it was a great location, he says.But,like other suburbs in Bangalore,Aravamudhan found that this area too lacked water and sanitation facilities.And,theres practically no road, he says.

PR professional Sumit Jain,a resident of Surabhi Apartment along the same stretch too,is aggrieved: Ive been living here for four years when it rains,its a nightmare.Given there are no streetlights,its dangerous for old people,pregnant women and children to walk on the road,especially during the rains.

Water woes persist.Till date,theres no Cauvery water supply.People in our complex which houses 200 apartments are collectively spending Rs 10,000 daily to procure water, says Jain.

As residents face woes,builders have been bending backwards to ensure that amenities come home fast.Hidayath has been organizing meetings with several residential associations to resolve issues and handle crisis situations."We worked closely with BBMP,BDA and revenue authorities to help build a storm water drain and widen the Ranka Colony Road,'' he says.

But all this didn't come easy as there has been lack of co-ordination between agencies,resulting in years of delay in completion of planned works.Finally,efforts seem to be paying off,and the work has speeded up over the past six months,despite the fact that there are three different contractors,who often don't work in tandem.

OLD-WORLD CHARM

Residents of Vijaya Bank Colony in Bilekahalli too face water shortage.GK Pillai,a resident,says that they get Cauvery water supply only once a week.All borewells have dried up;you need to dig far below 1,000 feet to find water, says Pillai,adding,The reason for the shortage is that people have been building ten apartments on 50 by 80 plots,which are meant for single bungalows.
Water woes apart,this colony wears the air of Old Banaglore with plush bungalows,parks and wide roads,away from the din of Bannerghatta Road.Jayakar Shetty,retired GM of Vijaya Bank,owns a house here.This area used to be a village full of coconut trees and mango plantations,until the layout was founded in 1984.We are surrounded by Devarachikahalli,Kodichikahalli and Hulimavu villages,the terrains of which are being fast dotted with massive high-rises, says Shetty.

THE PLUSES

Area has easy access to super speciality hospitals like Fortis and Wokhardt
Connected to NICE Road,which makes commute to IT hubs like Electronics City fast
Shoppers Stop,Meenakshi Mall and Reliance outlets are in the vicinity

THE MINUSES

Water woes abound there is neither underground water nor ample Cauvery water supply
Bannerghatta Road clogged at peak hour,with commuters accessing it to reach NICE Road
Ranka Colony Road,although connected to BTM Layout,doesn't have access to the area,making Bannerghatta Road,sole entry and exit