The new Hosur Airport has been announced and with this Tamil Nadu Chief Minister, MK Stalin has come under the media limelight more than once and some of the igniting discussions that have ensued across the country include.
The Hosur Airport is going to transform the infrastructure development of Krishnagiri district in Tamil Nadu.
Soon after the declaration of the new airport in Hosur, The Karnataka Government started a survey towards the construction of a second airport in Bangalore. The Karnataka State Infrastructural Development Minister, MB Patil has shown the desire to begin the study on the likelihood of a second airport to Bangalore.
About the further development of this blog, it is interesting to discuss the infinite possibility of the fact that the construction of a new Hosur airport offers, the surrounding area which includes the large real estate dive that the new airport offers is something big that requires a giant push for.
Let’s explore the massive real estate opportunities the new Hosur Airport has to offer to the surrounding localities to get a massive push in infrastructure development and a boost in real estate investment opportunities!
A Sketch of the Proposed New Hosur Airport:
Hosur is an Industrial and IT Hub situated in the Krishnagiri district of Tamilnadu, 40 km away from Electronic City, Bangalore. Hosur has the advantage of its strategic positioning which connects the east and west of Bangalore. The city of Hosur facilitates small-scale enterprises in and around the localities of Tamilnadu and Bangalore.
As the new airport is coming into the market, there will be increased industrialization connectivity will be provided at a drastic rate for the companies in Electronic City.
The development will assist in improving the connectivity since it will provide another option to Kempegowda International Airport in Bangalore. Moreover, it is also stated that the proposed international airport at Hosur will lead business development in the nearby areas of Bangalore, predominantly Electronic City.
An appropriate location for the establishment of an industrial estate has been the focus of research being conducted by the Tamilnadu Industrial Development Corporation Limited(TIDCO) to establish an industrial estate to maximize the prospects of air traffic demand. The airport may either be developed as a Greenfield project or an expansion of the existing private airstrip of Taneja Aerospace and Aviation Limited (TAAL).
Hosur is a major industrial center having nearly 3000 industrial establishments and prominent automobile car producers and electrical scooter makers. The airport is projected to accommodate passenger and freight transport increasing the socio-economic and industrial productivity. The airport is under the center’s UDAN program, which stands for the ‘Ude Desh ka Aam Nagrik’ meaning ‘simpler flying for the citizens of India’. This could potentially, include destinations currently that were not well-served by Kempegowda International Airport.
The intention behind the Hosur International Airport project is to fulfill the need for aviation services, serve south Bengaluru people with less traveling time, and enhance industrialization in Hosur and nearby regions.
How Bangalore can benefit?
Hosur is 25 kilometers away from Electronic City of Bangalore, and can now benefit from improved infrastructure and accessibility. The region will now be embracing exceptional business growth especially because the new Hosur airport will boost transport connectivity of cities to Bangalore particularly Electronic City, an Information technology city.
One such significant part of air travel, that has acted as a lifeline for connectivity for an area like Electronic City is the Kempegowda International Airport in Devanahalli. Situated over 50KMs North, the accessibility to this place is very congested. The Hosur Airport will help minimize the time taken by areas such as Electronic City, Mahadevapura, and Bangalore’s South East and South West parts.
The neighboring city Bangalore is certainly going to enjoy enhanced connectivity with the new Hosur Airport coming up. The business landscape of the city through various IT companies is going to see a remarkable surge along with the real estate in and around Hosur and Bangalore.
The business community and the IT professionals will find a smooth commute to International destinations with the proposed Hosur Airport, they needn’t travel a long distance towards north Bangalore wading through congested traffic and longer time to reach the airport. The Hosur Airport will provide easy accessibility.
Some Concerns Raised on the New Hosur Airport
In addition to some advantages, the new Hosur airport has emerged as a coincident factor giving rise to many concerns in Bangalore. There could be a momentous transfer of commercial activities and companies from south Bangalore to the newly proposed Hosur airport in Tamilnadu.
This was the primary concern which has led the Karnataka Government to consider the importance of planning the desirability of a new airport in Bangalore. The government has been persistently looking for land near Anekal and Bidadi to build a new airport.
The Policy Pitfall:
A specific provision in the concession agreement Bangalore International Airport Ltd (BIAL) and the Central government inked may throw a wrench in the plans, notwithstanding the euphoria around the projected airport.
Except for Mysuru and Hassan airports, the agreement prohibits the construction, enhancement, and modernization of any airport within 150 kilometers of the KIA before 2033. Given that the KIA in Devanahalli is only 74 km away from Hosur, it will take at least nine years for the airport to be completely operational.
The bright side is that the Tamil Nadu government has plenty of time to finish all the legal requirements, including acquiring land, obtaining environmental and other necessary permits, creating a thorough project report, and putting out tenders for the building of runways and an airport. After everything is finished, the Hosur airport will strengthen the twin city’s relationship between Bengaluru and Chennai.
Hosur Airport Takeoff: Real Estate Ready for Liftoff?
The new Hosur Airport which is proposed has already triggered a real estate appreciation for the surrounding localities. Buying a plot in and around Hosur is going to be a wise investment for the future.
The real estate potential of the city has surged by a huge margin, especially plots along the Hosur Road region. The localities near the roads connecting Bangalore to Hosur have started seeing price increases, especially Nice Ring Road and Hosur Road. These spots can be touted to be hot real estate investments.
Infinite prospects for new company clusters and real estate possibilities in and around the region would be sparked by the projected airport in Hosur. In addition, the 288 km long Satellite Town Ring Road will pass through important locations like Thalli Road in Anekal and Dharmapuri Road in Hosur.
The prominent localities in focus for the real estate surge are Attibele, Bommasandra, Electronic City, Thalli, Anekal, Jigani, Bagalur, Sarjapur, Malur in Bangalore, and coming to Tamil Nādu, Hosur, Krishnagiri, Dharmapuri areas will see great real estate investment prospects.