Bengaluru’s emergence as an outsourcing hub gave birth to IT clusters in the city, and earned it the sobriquet ‘Silicon Valley of India’. Until the mid-2000s, these were located in the central, southern and the eastern parts of the city which also enjoyed well-rounded development in terms of infrastructure as well as civic and social amenities. However, the development of the Kempegowda International Airport in Devanahalli in 2008 catalysed the growth of North Bengaluru. It attracted large scale realty investments and still continues to do so.
North Bengaluru comprises of the localities of Hebbal, Jakkur, Thanisandra, Hennur, Banaswadi, Yelahanka and Devanahalli. Development of the entire region is accelerating at an exponential rate. Here’s a look into the factors contributing to the development of North Bengaluru.
Public Infrastructure in North Bengaluru
If we look at the public infrastructure that is currently in place and under construction in North Bengaluru, we would be able to imagine the scale at which the region is growing. A 22-km Elevated Expressway to the International airport has reduced the travel time to and from the airport for the entire city.
Under Phase 3 of the development of Namma Metro, a line from Nagawara to the International Airport via Hebbal and Jakkur, spanning a total of 30 km, has been sanctioned. The project has been fast-tracked and is estimated to be completed by December 2023. Its completion would enable residents of North Bengaluru to seamlessly travel to the airport or to the city.
The proposed Peripheral Ring Road (PRR) is envisioned to be a 65-km stretch of Ring Road which will encircle the Outer Ring Road (ORR) and connect Doddaballapur Road, Bellary Road, Tumkur Road, Hennur Road, Sarjapur Road and many others, including Electronic City. The PRR will largely decongest the ORR and provide faster connectivity around the city.
Finally, the government of Karnataka is contemplating developing a suburban railway network connecting the city of Bangalore to the International Airport. The plan is to convert Devanahalli into a terminal station of the suburban line which would further connect Bangalore City Railway Station to the airport via KR Puram and Hebbal Railway Station. This is a bold plan and would provide airport-to-railway connectivity thus boosting tourism as well as unprecedented multi-modal connectivity in the city.
Peripheral Business District
North Bengaluru is developing into a massive business hub. The $22 billion, 12000-acre KIADB Devanahalli IT Park is one of the most awaited developments here. This is in addition to the already-functional KIADB Aerospace SEZ, a science park and a 10 billion dollar financial city which would rival the financial hubs of Gujarat and Maharashtra, and further attract a lot of growth and employment opportunities. Manyata Tech Park and Kirloskar IT Park are among some of the IT parks that have come up in the region. A 2018 Knight Frank report observes that office transactions (sq. ft.) in the region have seen a 73% YoY growth; this is estimated to increase further.
Cheaper Land Rates Contributing to the Real Estate Boom
North Bengaluru has benefitted from traditionally cheaper land rates which has enhanced its attractiveness to developers and investors. Despite the recent flurry of development, and improved infrastructure and connectivity, the rates continue to be lower than other parts of the city. This has consequently resulted in a booming residential market with more affordable housing options for the masses choosing to settle in Bengaluru. Estimates of prices per sq. ft. for apartments in North Bengaluru – Hebbal (Rs. 5000-10000), Hennur (Rs. 3500-7500), Yelahanka (Rs. 4000-6500) and Thanisandra (Rs. 3000-8000).
Vast Array of Options
A homebuyer looking for a new abode in North Bengaluru has the flexibility to choose from a variety of options curated to suit their lifestyle needs. Apartments of varying configurations, townships boasting vast green spaces with digitally enabled homes or green homes, villas, and plotted developments are some of the dizzying array of choices that real-estate developers offer the discerning homebuyer or investor. North Bengaluru is emerging as the destination of choice to live a well connected, urban life with the luxury of abundant green spaces.
Proximity to the best of Social Infrastructure
The burgeoning growth of North Bengaluru as a commercial and business hub has ensured the growth of a reliable and good quality network of social amenities such as schools (Stonehill International School, Canadian International School, Delhi Public School, Sir M Visveswaraya Institute of Technology, etc), hospitals (Columbia Asia, Cloud Nine, Regal Hospital, NRV Hospital, Aster CMI Hospital, etc), malls and entertainment options (RMZ Galleria, Decathlon etc).
Despite the tremendous construction and development in North Bengaluru in recent years, the region continues to have an abundance of vast, open spaces. The existence of Nandi Hills and lots of greenery also adds to the attraction of this region.
North Bengaluru is the latest shining jewel in the crown that is the city of Bengaluru. Investors and residents alike can expect much from this region in the coming decade. The completion of public infrastructure projects such as Metro connectivity till the airport, Peripheral Ring Road, the establishment of Business districts, SEZ’s, and IT clusters will completely transform the landscape, economy and real estate potential of the region.
(Previously published in The Hindu’s Property Plus supplement on 28th Sept)