Friday, September 22, 2006

Large scale development on cards

Large scale development on cards
R Jayaprakash has an overview of the factors that promise to push real estate development in the localities around this road
The Times of India

Kanakapura Road was once just a name of a State highway that led to Mysore and on to Tamil Nadu. But today the development this road has seen makes it a place to reckon with when it comes to living. Rich with art, cultural, and educational institutions, this road has the right commercial mix too. To put it in a nutshell, it is 'complete'.
What is evident is that the locality has transformed into one of the most sought-after areas that is bustling with activities in last five years. While Whitefield and Sarjapur Road were the first target locations for developers, Kanakapura Road is among the latest.
Kanakapura Road has everything to offer on a platter. The first factor though that gave the locality a boost was the Bangalore-Mysore Infrastructure Corridor Project (BMICP) that envisages a 106-km six-lane super highway between Bangalore and Mysore. It is aimed at reducing the travel distance and time between the two cities. The Kanakapura Road is now connected to the BMICP site. The BMICP's arch road between Hosur Road and Tumkur Road crisscrosses Magadi Road, Mysore Road, Kanakapura Road and Bannerghatta Road thereby setting up six lane uninterrupted connectivity between the east, west and south of Bangalore. This connectivity has virtually boosted the growth here.
Experts in the field say that once the road project is over the locality will see further development as scope for shopping malls, hotels, resorts, factory outlets and amusement parks will multiply. Also, it may be recalled here that Nandi Infrastructure Corridor Enterprise (NICE) has envisaged an integrated project in the form of BMICP that entails a business park in the immediate vicinity of Kanakapura Road. All these developments would translate to housing requirement for a great many people. With such development on the cards in the years to come, the locality promises to be one of the most prominent and wanted areas in Bangalore.
The growth in the area can be attributed to various factors such as, distance from the city centre, the State Government's initiative to widen and re-lay the road and network it with other areas, the BDA's residential layout and apartment complexes, commercial establishments, availability of land, and relatively reasonable land rates.
The Kanakapura Road is just five km from the city centre. The road is well-connected to the city and major peripheral areas through the Outer Ring Road and other intermediary roads made by the Public Works Department (PWD). Bidadi industrial area, Kengeri, Bannerghatta Road, and Hosur Road (Electronic City) are connected to Kanakapura Road, by the PWD's Rs 20-crore intermediary road improvement project. Also, the PWD widened the Kanakapura Road and relaid the road upto Kanakapura a few years ago. After this the commercial development on this road has been phenomenal.
The BDA, after a restructuring, resumed its retailing activity of sites and commercial complexes in the late 1990s, and thus Anjanapura Layout was formed in 1998. The sprawling BDA layout prompted many developers to put up private layouts and it is ideal for those who prefer an independent house. The BDA-approved sites here cost between Rs 1,800 and Rs 2,000. Some builders have even created row houses that are of high quality here. Coming to apartments, there are plenty of options. The BDA too has put up apartment complexes in the immediate vicinity. Availability of land is another major plus for people looking in this direction for property investments.


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