Bangalore has fast turned into a land of opportunities owing to the growth of IT/TIES establishments in the city. This fast pace of growth has created a lot of job opportunities, which has also led to increased demand for residential and commercial spaces within the city. While Central Bangalore has been the business district of the city, eastern and south-eastern parts of Bangalore have become major hubs for IT and financial companies.
The Southern and Western parts of the city are mainly residential areas. And the Northern and North-Eastern regions are a mix of industrial and residential developments.
But over the years, with the ever-increasing population of Bangalore and its need for quality residential units, there is has been a change in the trend. Homebuyers have started looking at the peripheral areas around the city, which not only promise larger land parcels but also provide better amenities and social infrastructure for them.
These young, aspirational homebuyers are willing to travel over an hour to eastern suburbs to find the home of their dreams.
Landscaped gardens, swimming pools, gymnasiums, security devices such as video door phones and the likes, which were once considered a luxury, are a matter of hygiene today and most customers expect these facilities in their residential area. There is also significant demand for developments that provide amenities such as schools, restaurants, malls, hospitals, libraries, and ample parking space in addition to the standard facilities provided by most developers.
While there is significant demand for homes in Bangalore, the supply is not enough to meet the demand and hence peripheral markets like Bellary Road, Sarjapur, Whitefield, Yelahanka and E-city are attracting homebuyers.
The Bellary road micro-market has emerged as one of the fastest growing residential areas of Bangalore with a number of infrastructure development projects coming up in the area.
With proximity to the commercial and industrial catchment areas of Hebbal, Yeshwantpur, and Devanahalli, Bellary Road also offers excellent connectivity to the Outer Ring Road, Bangalore International Airport, and the Central Business District.
Sarjapur is yet another location which has been growing at a rapid pace. With good road connectivity to Whitefield, E-City, Koramangala, Outer Ring Road and Marathahalli, Sarjapur has been seeing a lot of commercial and residential development in the past few years.
With the Wipro Campus situated in this area, Sarjapur has picked up well, and property prices have appreciated significantly.
Whitefield is an upmarket IT Hub. It has become one of the most preferred locations in Bangalore owing to the rise of several IT & ITES companies in the vicinity. Whitefield has an enabling social infrastructure and is one of the poshest localities in Bangalore today.
It also serves as a junction between the highways connecting Hyderabad and Vizag and is well connected to all major hotspots in Bangalore.
Yelahanka in north Bangalore is a peaceful locality. Its proximity to defence establishments makes it an ideal place to live for those who like to stay away from the urban chaos. Property prices in Yelahanka rose northwards after the opening up of the airport. And if sources and reports are to be believed, Yelahanka will soon be one of the most sought-after locations in Bengaluru.
A Knight Frank report suggests that Yelahanka’s eventual evolution as a peripheral business district will give birth to a thriving residential real estate hub.
Hebbal is yet another residential area that is ideal for those who prefer living slightly away from the city chaos.
Located on the outskirts of Bangalore and connected to the city through the Hebbal flyover, it has very good connectivity to the airport.
This article is contributed by Uday Bhaskar, Region Head South, Godrej Properties Ltd
(The views expressed here are solely those of the author and do not necessarily represent or reflect the views of RoofandFloor)