Since the liberalisation of India in the 1990s, many Indian cities have witnessed rapid economic growth. The spurt in IT growth during the late 90s and early part of this century gave Bengaluru the title of “Silicon Valley of India”. Over the last decade, industries such as Biotechnology, Pharma and ITES have also given the city a unique place on the Indian map.
Though the residential sector in many parts of India is slowly picking up, Bengaluru shows an entirely different picture.
The growth story of Bengaluru’s suburbs
1) Sarjapur Road
Once a completely barren area, Sarjapur is today a great location for first-time buyers. Middle-class buyers searching for 1 and 2 BHK flats, along with high-income groups searching for villas, have found solace here. Due to the proximity to Outer Ring Road (ORR) which houses a large number of companies, Sarjapur Road is most convenient.
2) Whitefield
The IT industry transformed the landscape of Whitefield from 2000 onwards. Due to the IT boom, companies such as IBM, SAP Labs, Mphasis and Mindtree have offices here. Additionally, Whitefield is also one of the greenest areas of Bengaluru.
3) Yelahanka
After the start of the Kempegowda International Airport, real estate development for office and other use started expanding on the NH7, the highway connecting the airport to Yelahanka. Several apartment projects are now being set up, and prices in this area have started marginal appreciation within the last year.
4) Devanahalli
One of the fasted developing areas for real estate is Devanahalli, a suburb located in North East Bengaluru. Its landscape has also been led by the Kempegowda International Airport, which is in the same area. Within 15 years, the rural landscape has become urban, with industrial parks, gated communities, and ultra-luxury apartments.
5) Kanakpura Road
Not too far ago, Kanakpura was considered as just the extension of J.P. Nagar, but with the expansion of the city, it has become more than just an extension with affordable land rates. Though there were only a handful of builders here earlier, it now has a line queuing up, namely Mantri Developers, Purvankara, Nitesh Estate, Sobha Developers, and Brigade Enterprises. Close connectivity to an expressway that connects from here to Bengaluru’s industrial hub of Electronic City, along with the upcoming Bengaluru Metro makes the area even more attractive. An excellent network of hospitals and schools has been set up here. Schools include Ryan International, DPS and Kumarans, while hospitals such as Wockhardt, BGS Hospital and Apollo can be found here.
With RERA, interest in property is picking up. Buying a home in proper Bengaluru might be a dream beyond the reach of many, but the city’s fast-emerging suburbs are offering great choices as well. Living in the suburbs is not just a burden, but a choice these days.
