Bangalore/ Bengaluru known as the “IT capital of India” and “Silicon Valley of India” is the third-largest city of India. The emergence of the city as the center of India’s IT and tech industry has led to a subsequent real estate boom.
In the past decade, the garden city of India has witnessed a rapid appreciation in property prices, mainly due to the floating population of working professionals moving into the city in search of job opportunities.
North Bangalore is rapidly emerging as a viable long-term investment option due to its proximity to commercial developments, social infrastructure, and the emergence of various business parks.
We look into why north Bangalore remains in high demand for home buyers.
1. Commercial Developments
KIADB Aerospace SEZ: 950-acre Bangalore Aerospace Park which includes a 250-Acre special economic zone (SEZ) has attracted investments from 50+ large and mid-sized companies.
Devanahalli Business Park: 413-Acre Devanahalli Business Park is expected to attract an investment of $2.2 billion over the next decade, making North Bengaluru a major economic zone.
BIAL IT Investment Region (ITIR):12,000-Acres land is dedicated for BIAL-ITIR which has generated interest from over 55 multinational IT companies including tech giants like Infosys, Wipro, TCS, and Cognizant.
International Convention Centre: Bangalore International Convention Centre will be built on 35 acres of land next to the Bangalore International Airport through a public-private-partnership (PPP) model.
Disney Land Theme Park: The tourism infrastructure development department has proposed to build a theme park on the lines of Disneyland in the north of the city - either in Devanahalli or along Bengaluru-Tumakuru road.
Bellary Road: Bellary Road (NH7) from existing 6-lanes is getting widened to 8-lanes, which would sustain higher traffic due to airport expansion and expected real estate developments on either side of the NH7.
International Airport: The Kempegowda Bangalore International Airport is the key driver in demand for real estate in North Bangalore. Close proximity to the airport ensures hassle-free connectivity with other cities.
Railway Station: Yelahanka Railway Station provides good connectivity with other parts of the city as well as other cities. Being close to the railway station has its own set of advantages as it links you to other parts of the country.
Metro Rail: Bangalore Metro Rail Corporation Limited has already announced the extension of the metro in Phase 2, 2A, and Phase 3. Metro connectivity in North Bangalore makes the daily commute to other parts of Bangalore an easy task.
3. Residential projects for every budget