Saturday, October 24, 2009

BANGALORE EAS

BANGALORE EAST
Localities in the east are self-sufficient. The first of the city’s IT hub developed here. It is from here that the IT saga unfolded. The total Grade A stock of office space in Whitefield alone is estimated at around 14 million sqft


After south Bangalore, the eastern belt saw the spread of commercial and IT office spaces in and around Whitefield and Sarjapur-Outer Ring Road (ORR) stretch. Large land parcels, relatively lower rentals, and provisions in the revised Master Plan have seen IT parks, SEZs, commercial, and retail establishments coming up here. There are more than 600 IT/ITeS companies and seven industrial parks in the EPIP area in Whitefield alone.
CONNECTIVITY
With the advent of IT, civic agencies like the Karnataka Industrial Area Development Board (KIADB), railways, Public Works Department, and the Bangalore Development Authority (BDA) came out with projects to link the city centre and residential catchments to this region.
The opening up of the Marathahalli bridge, widening of Old Madras Road, the four-lane Varthur Road, six-laning of the Benniganahalli stretch, and the ORR have made it easy to commute. Flyovers coming up at the Agara and Iblur junctions will allow seamless connectivity between Varthur, Sarjapur, Marathahalli and Whitefield.
The BDA is coming up with eight more flyovers at HSR Layout, Bellandur, Kadabeesanahalli, Devarabeesanahalli, Mahadevapura, Kalyannagar, Hennur, and Veeranapalya, making the ORR signal-free. This will allow smooth connectivity to the international airport and to residential catchments.
REALTY SCENARIO
The eastern region has developed into a self-sufficient market. Marathahalli, Sarjapur-ORR, and Whitefield have emerged as commercial, residential, and retail hubs. Highend residential options - apartments, villas, and row houses - have mushroomed in Whitefield, Brookefields, Varthur, Old Airport Road, and Sarjapur Road.
In Whitefield, rentals for two and three bedroom apartments (1,200-2,500 sqft) are in the range of Rs 12,000 to Rs 18,000. The rentals for high-end options (2,500-6,000 sqft) are in the range of Rs 25,000 to Rs 2.2 lakhs.
In the Sarjapur-ORR stretch, the rentals for mid-range apartments (1,200-2,500 sqft) are in the range of Rs 12,000 to Rs 20,000. The rentals for high-end options (2,500-5,000 sqft) are in the range of Rs 28,000 to Rs 60,000. The total Grade-A stock in Whitefield is approximately 14 million sqft and by 2011, another four million sqft will be available. Grade B and C office space stock is approximately 10 million sqft. On the Sarjapur-ORR stretch, a little over four million sqft of large Grade-A office space is expected by 2011. Presently, the completed stock stands at 12 million sqft.
A lower rental (Rs 28-30 per sqft) has seen many IT companies looking at expanding their operations in this belt. Proximity to the industrial area at Hoskote has led to further investor interest here. Residential catchments in the vicinity are Old Madras Road and Kadugudi where villas and midrange apartments are coming up.

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