Photo by Precondo CA on Unsplash
Few cities in India inspire people from all over the world to relocate and put their roots down. Bangalore, the greenest city in the country, has this magical allure – it draws you into its canopied shade. Glorious weather, a progressive and inclusive culture, abundant employment opportunities, and a strong property market with realistic prices make the Garden City an attractive destination for home buyers and investors alike.
The Bangalore real estate market is among the most stable in India. The average price growth in the city’s residential areas, over the last three years, has been around 23%, which is higher than the average price growth in all other major destinations including Delhi NCR (18%), Mumbai (22%), and Pune (17%).
Homebuyers have long been drawn to the traditional residential strongholds in Central and South Bangalore. Well-established infrastructure, ample greenery, and proximity to commercial hubs made these areas the preferred destinations. North Bangalore, an obscure outpost in the city’s periphery, seldom featured in the consideration set of discerning buyers.
The arrival of the international airport at Devanahalli was the milestone event that changed North Bangalore’s fortunes. With the airport in its backyard, growth accelerated, and North Bangalore has emerged as one the fastest growing regions in the city. Buying a property here does not necessitate a compromise on the infrastructure and greenery of the older suburbs. North Bangalore offers the best of both worlds – vibrant neighborhoods away from the noise and pollution of the city, ample green cover, access to parks and lakes, plus Nandi Hills in the backdrop. Best of all, a decidedly competitive edge in terms of price relative to the older suburbs in the city’s precincts.
Source: Cushman & Wakefield
North Bangalore, in recent years, has transformed into a bustling business hub rivalling the CBD. Mega-corporations have set up campuses here, lured by the proximity to the airport and availability of land at affordable prices. The Bangalore Aerospace Park spread over 250 acres houses over 50 companies. The upcoming Devanahalli Business Park, located on an expansive 400 acres, is expected to attract $2.2 billion in investment, over the next few years. The 12,000-acre BIAL IT Investment Region, slated to be an alternative IT hub, has garnered interest from reputed IT companies – Wipro, TCS, Cognizant included. Commercial enterprise in North Bangalore has expectedly spurred demand for residential real estate. Well over 200 residential projects have mushroomed in the vicinity of Kempegowda International Airport Limited (KIAL).
The key drivers of North Bangalore’s transformational growth are:
Connectivity
A slew of infrastructure developments following the international airport has vastly improved connectivity to the area.
The 6-lane Bellary road connecting central Bangalore to the international airport has considerably reduced travel time along the 28-kilometre route. The proposed widening of Bellary road from 6 to 8 lanes will further reduce the commute. High-frequency BMTC buses provide easy access to prominent parts of the city. A network of arterial roads including Outer Ring Road, Bellary Road, and Tumkur Road bridge the city’s outer reaches. Construction of the 72-kilometer Namma Metro line, perhaps the most significant of all developments, is an added bonus. The Green Line of the metro will traverse Nagasandara in North Bangalore and Kanakpura in the South in a mere 45 minutes making travel quick and convenient. Further bolstering North Bangalore’s prospects, the proposed Satellite Town Ring Road connecting North Bangalore to Sarjapur, Hoskote, and Kanakapura will enhance connectivity to the area and catalyze demand for property at this prime location.
Employment Hubs
North Bangalore is dotted with commercial developments – IT Parks, Tech Centers, SEZs, etc. It is home to Manyata Tech Park, Aero SEZ, Ecopolis, Kirloskar Business Park, SLK Software, International Tech Park, and the upcoming Devanahalli Business Park. Public Sector Units (PSUs) such as BEL and HMT are within easy reach.
Marquee names including TCS, Target, L&T, Rolls Royce, Philips, Nokia, Cognizant, Shell, Fidelity, ThyssenKrupp Aerospace, StarragHeckert, Nvidia, AXA, IFCI, and Wipro are located here. North Bangalore’s evolving credentials as a business hub will bring more businesses to the area, thereby generating abundant employment opportunities.
Social Infrastructure
North Bangalore offers a peaceful environment away from the hustle and bustle of the city, with requisite urban conveniences.
Reputed educational institutions such as Delhi Public School, Vidyashilp Academy, Ryan International School, National Public School, Canadian International School, Kendriya Vidyalaya, Chrysallis High School, Euro School, Mallaya Aditi International School, VIBGYOR High, CMR University, REVA University, and Presidency College, among others, ensure that students have access to world-class education. Medical establishments such as Columbia Asia, Chaitanya, MS Ramaiah Medical, CMI, Navvachethana, Aster, and KK hospital provide the best care to the infirm and elderly. Entertainment centres – Esteem Mall, Elements Mall, RMZ Galleria, Garuda Yelahanka, Orion Mall – and restaurants – Onesta, Sigree Global Grill, Truffles, Brewklyn Microbrewery, not to mention myriad eateries at the international airport – ascertain a vibrant social life for the entire family.
Varied Housing Options
The residential areas around the CBD and South Bangalore have become unaffordable for many investors. Real-estate prices have sky-rocketed, making it harder to find pocket-friendly properties. Even buyers with larger budgets are forced to compromise and settle for less square footage.
North Bangalore, by contrast, is unexplored terrain; land here is cheap and plentiful. The spate of businesses relocating to the area has stimulated residential property development. Developers are going to great lengths to cater to diverse customer needs and tastes. From rowhouses, apartments, villas to plotted housing in gated communities, there are umpteen choices.
No matter what your budget, you are almost certain to find a home here. Moreover, you can get a larger place at a much lower price. Which is a big drawcard, post the pandemic, with work for home becoming the norm and buyers are looking for larger places to accommodate workstations and children’s study areas.
Since the developments in North Bangalore are relatively new, the quality of the projects is far superior. Besides, most places come equipped with luxury amenities – clubhouses, gyms, swimming pools, and more -offering a lifestyle upgrade.
Price ranges from 25L to 3 cr. for apartments and 3 cr. to 6 cr. for villas and plotted developments, making North Bangalore the destination for affordable and luxury properties.
Growth Potential
North Bangalore is among the fastest growing areas in Bangalore and will continue to be at the forefront of growth due to ongoing investment in the area and ensuing urban development. Hebbal, Yelahanka, and Devanahalli which have played significant roles in the growth of North Bangalore real-estate, will remain the most sought-after locations. Yelahanka will be the front-runner among prominent neighborhoods, with the metro station coming up in the area and Phase 2 of the metro soon becoming operational. And Yelahanka Satellite Town will be the new face of Yelahanka.
With properties values rising, you are well advised to invest now and capitalize on the opportunity of this thriving location.