Bangalore’s growth from a town that had middle-class families who either worked for HAL or BHEL to a Silicon Valley consisting of people from all over the world has been nothing less than phenomenal. The transformation from Bangalore’s cold, foggy mornings, mildly warm summers, tree-lined avenues that lent a crisp freshness to the air to Bengaluru’s hot, humid days, chaotic traffic, and broken roads has been rapid.
“Bengaluru has been a stable market that has witnessed a gradual increase in capital values; however average rental yields are comparatively better ranging between 2-4% as compared to cities like Mumbai where yields are about 1-3%,” – Cushman and Wakefield.
But it’s the micro-markets of Bangalore that holds great interest for the investor who is looking for capital appreciation.
Bangalore has expanded beyond, much beyond, what Kempegowda, its founder, envisioned. The city limits now extend to places that were once considered farmland. Kanakapura is one of those places that is now considered within the city but was once a village.
Where is Kanakapura?
Kanakapura is located in Ramanagara district, which is famous for its silk and even sports the nickname Silk City. Located just 55 kilometres from Bangalore city centre, Kanakapura is now a state highway that is also fast becoming a busy suburb.
Earlier, it was known as Kankanhalli Road, and led to the river Arkavathi.
During the 1950s it was a dirt road that was bordered by the thick forests of Harohalli, Kaggalipura, Tataguni and Yediyur.
Legend has it that the name Kankanahalli originated from a building owned by a man named Kanakana, which was torn down by Jagadeva Raya, the chieftain of Chennapatna to build a fort.
What’s there to see in and around Kanakapura?
Kanakapura provides easy access to many idyllic picnic spots that are ideal for a day trip or a brief getaway from the noise of the city. Here are a few of them.
Thottikallu Falls or TK Falls, also known as Swarna Mukhi falls, is located off Kanakapura Road, about 32 kilometres from Bangalore city. Though located in an isolated place, it gets a fair number of visitors, particularly during the monsoon when the falls are heavy.
Turahalli Forest is located about 20 kilometres from Bangalore off Kanakapura Road and has recently become popular among cyclists. Marked by rugged and hilly terrain ideal for a rejuvenating cycle ride or a good trek, Turahalli is home to eucalyptus trees, a small hillock that offers a great view of Bangalore, and a small temple.
Chunchi Falls, located just about 30 kilometres away from Kanakapura, is popularly rated as one of the most scenic waterfalls near Bangalore. The rains feed the river Arkavathi during the monsoon, which adds to the force of the waterfall. The sight of the water tumbling over the rocks on the banks of the river is an unforgettable one.
Bilikal Rangaswamy Betta is located around 30 kilometres away from Kanakapura and is popular among trekkers. The name ‘bilikal’ is derived from the whitish coloured rocks that dot the hillside and the temple atop the hill, which is situated under a huge rock, is accessible from Kanakapura Road.
The Art of Living centre is situated in a 65-acre area and offers enough attractions for a pleasant day trip. Visit the Vishalakshi shrine set amid beautifully manicured lawns and offering a great view, walk along the duck pond, the Radha Kunj lake with its variety of birds and have an Ayurvedic lunch at their cafe.
Amenities and infrastructure
South Bangalore has always been at the forefront of development with various industries and SEZs making it their base. Already established and well-developed infrastructure as well as plenty of lung space in the form of lakes and parks have made South Bangalore the go-to area for people looking to invest in real estate.
Kanakapura Road, being in South Bangalore, has been at the heart of progress.
While Kanakapura continues to retain a rural charm with its lush greenery, small shops and eateries, and huts that line the smooth road that passes through it, development and modernity are also visible in the big wholesale outlet of retail giant Metro, and factory units of various brands like Khoday’s and Maiya’s.
In recent times, Kanakapura has expanded at a blistering pace to encompass all the social infrastructure required to make it an extremely attractive place for living.
Some of the best schools of Bangalore are situated near Kanakapura Road:
- Delhi Public School
- Jyothy Kendriya Vidyalaya
- Edify School
- Kumarans
- Jain International
- Valley School
Renowned hospitals like Vasan Eye Care, Apollo, Fortis, and Sri Sai Ram are all situated in close proximity to Kanakapura Road.
Compared to the rest of Bangalore, which is facing evacuation by 2025 if the water tables continue to be depleted, Kanakapura Road is slightly better thanks to the numerous lakes in the area and its proximity to the Cauvery river. “Two factors, the presence of a high water table and availability of land parcels that came about with change in land use, triggered growth on this road,” opines Suresh Hari, Secretary, CREDAI Bangalore.
Connectivity
Kanakapura Road is extremely well connected by road and Metro to many parts of Bangalore, including Jayanagar, JP Nagar, and Bannerghatta Road, which are in close proximity.
Easily accessible from NICE road, it is easy to get to the employment hubs of Electronic City and Sarjapur Road. It’s just about 45 kilometres away from the international airport, and BMTC buses ply regularly.
The Namma Metro Phase II extension is in the works and will extend for 6.2 kilometres from Konankunte to Majestic with Kanakapura having a station of its own, which will be highly beneficial to residents and other institutions.
Work on the Peripheral Ring Road (PRR) is going at a good pace and once done it will connect Kanakapura Road to Tumkur Road, Old Madras Road, and Hosur Road.
These upgrades in the existing infrastructure of Kanakapura Road, including the approval of the Peripheral Ring Road, linking Tumkur and Hosur Road will have a positive impact on real estate prices.
The benefits of investing in Kanakapura Road
The growth of real estate on Kanakapura Road definitely catches one’s attention. Apartments of all sizes that vary in price line either side of Kanakapura Road.
Prominent Builders in Kanakapura
Kanakapura Road commands prices that range between Rs 3,600 and Rs 7,500 per sq ft in 2017, depending on the brand of the builder. These prices are expected to increase by 8% in the next one year while prices along the main road might go up by 15%-20% in the next year and a half.
Kanakapura has been one of the most attractive locations for investment for people in the IT industry due to its excellent connectivity, good social infrastructure and relatively traffic-free roads.
Additionally, since price movement is not extremely fast, as yet, in the area, it is still a very viable option for real estate investment.
Top ready-to-occupy properties in Kanakapura
Kanakapura has a variety of real estate to choose from ranging from budget apartments to luxury villas. Some of the more popular properties are gated communities that include facilities like swimming pools, clubhouses, sports centres, gardens, and ATMs. Here are five of the top builders present on Kanakapura Road.
Sobha Forest View
Sobha Forest View is one of the more pricier and luxurious of the options available on Kanakapura Road and is spread over 13 acres of land.
It has 2, 3 and 4 BHK apartments with a price range of Rs 92 lakhs to 2.25 crores. The price per sq ft range from Rs 1,506 to Rs 3,242 and the complex has all standard amenities.
Mantri Serenity
Mantri Serenity is one of apartment complexes that fall into the mid-range band.
Set across 43 acres, it offers 2 and 3 BHK apartments as well as penthouses. The price per sq ft is Rs 6,190 and prices range between Rs 60 lakhs to Rs 1.2 crores and it has all the standard amenities in addition to some special features like an indoor swimming pool with a Jacuzzi, a gym with a steam room, sauna and spa, an aqua gym, a creativity room, and a unisex parlor.
Work is ongoing, but many of the apartments are ready to move in.
Prestige Lake Ridge
Situated over 16 acres, Prestige Lake Ridge is one of the more luxurious properties situated just off Kanakapura Road in Uttarahalli and offers spacious 1, 2, 2.5 and 3 BHK apartments. Ranging between 661 sq ft and 1750 sq ft, Prestige Lake Ridge apartments are aimed at providing luxury and comfort at affordable rates with the price per sq ft being Rs 4,575 as of 2016.
The complex has all amenities, including some uncommon ones like a reading room, creche, mini theatre, laundrette, and a cards room. Other, more common, amenities include sports facilities, swimming pool, clubhouse, and a spa and health.
Brigade Meadows
Brigade Meadows is one of the affordable offerings from the well-known Brigade Group on Kanakapura Road.
Spread across over 60 acres, Brigade Meadows offers 1, 2, and 3 BHK apartments, 1800 units.
Located very close to the Art of Living centre, the complex has all basic amenities like a supermarket, a clinic, and even a coffee shop in its vicinity for the residents. Within the complex, there is a clubhouse, swimming pool, children’s play areas, walking tracks, and sports facilities.
Price hovers around Rs 4,240 per sq ft as of Oct 2016.
Kanakapura vs the rest of Bangalore
As with any area, Kanakapura Road has its pros and cons. While the pros are many, as enumerated above, Kanakapura Road has a few cons too.
Though well connected, a resident of Kanakapura Road still requires a minimum commuting time of 30-45 minutes to reach any of the IT parks or commercial areas.
Kanakapura is still in dire need of good pavements and proper drainage facilities. Open manholes and a dearth of bright streetlights still plague this area.
Summary
According to a 2017 research report by Knight Frank India, South Bangalore is second only to East Bangalore in being the best performing market thanks to a low Quarters to Sell (QTS) rate.
“With the sales velocity of the region improving in the past few quarters and with infrastructure development in the offing, the situation is expected to amend further,” states the report.
Most of the new launches in Bangalore in 2017 have been happening in the Southern part of the city, which includes Kanakapura Road with the promise of better infrastructure on the horizon.
All of these factors, assisted by recent initiatives from the government promoting affordable housing like tax incentives and buyer friendly clauses, no doubt, are what has catapulted Kanakapura Road to the top of the list of desirable locations to invest.
And going by the trend, it will remain there for a long time to come.
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