A decade ago, Abhiram B, an IT professional, bought an independent home in Nagawara, Bangalore for Rs 60 Lakh. At present, the value of his home stands at Rs 2.6 crore, indicating a rise of nearly 333% in 10 years.
Well, the saying, “Don’t wait to buy real estate, buy real estate and wait,” explains Nagawara’s real estate growth.
From a quiescent village to real estate hotspot, the metamorphosis of Nagawara has been nothing short of remarkable.
Nestled between Hennur Bellary Road Layout (HBR Layout) and Thanisandra, the area has evolved from a suburb into a thriving locality in a span of just a few years. Moreover, availability of land parcels at a relatively affordable rate has led to several leading developers utilising land here for residential development.
The upcoming Namma Metro Phase 2 is further expected to up the ante of this area. Recently, the state cabinet also approved the Bengaluru Metro Rail Corporation Limited (BMRCL) plan to provide Metro connectivity to the Kempe Gowda International Airport. The 30km stretch will ensure seamless connectivity with just six stations planned.
This line will be an extension of the North-South Line under Phase II. Once operational, reaching the airport from Nagawara will take just 30 minutes.
Catalysts fuelling realty growth
Proximity to Manyata Tech Park is one the biggest factors for the growth of the realty market in Nagawara. With traffic in Bangalore getting worse each passing day, a good percentage of IT professionals prefer to stay close to their IT Parks. And this has boded well for both the primary and rental market of the area.
When it comes to social infrastructure, Nagawara does not disappoint at all. The area has good schools like Dhee Global School, Sri Chaitanya School, and Kingston High.
A number of day-care centres have also mushroomed over the last few years, along with healthcare facilities. Elements Mall is the go-to place for the residents here, which is at a distance of 2km from Nagawara.
Connectivity
Nagawara is situated close to Hebbal with its network of roads and flyovers converging into Outer Ring Road and Bellary Road. It also benefits from connectivity between Service Road on HBR Layout, Outer Ring Road, Hebbal Flyover, and NH-7.
BMTC buses ply via the Nagawara Junction Bus Stop and other bus stops in the locality situated close to Manyata Tech Park.
Kempe Gowda International Airport is situated 30km away and is easily accessible via NH-7.
Real estate market
Given the fact that the housing market is largely driven by IT professionals, the dominant property type in the area is apartments, followed by villas. Interestingly, several major projects are also offering 1BHK and studio apartments to attract the young crowd.
[bctt tweet=”The capital values in Nagawara have recorded an upward growth trajectory.” username=”RoofnFloor”]At present, the average property values fall in the brackets of Rs 4,800-6,950 per sq. ft, clocking returns of about 8-10% on a yearly basis.
Major projects
