Friday, May 16, 2008

Emerging residential areas around city

Emerging residential areas around city
Increased connectivity, the new international airport and commercial development are driving demand for new residential localities around the city. Sai Prasanna reports

Many areas in Bangalore are opening up to residential development due to various reasons like increased connectivity, road development and improvement of civic amenities, and upcoming commercial projects in the vicinity. Specially, areas around North Bangalore, close to the new international airport, have been witnessing an upward trend in demand for property.
What's driving the demand for new residential localities in Bangalore?
Hebbal to Yelahanka
This region has high-end residential developments and is largely witnessing apartment projects coming up. There are some layouts being developed here too. The driver in this region has been the spill-over effect from localities such as R T Nagar, Sanjay Nagar, and Gangenahalli, among others, where it is becoming difficult to get sites. The location of two prominent business parks here has also driven the demand for residential options in this area.
Residential development in this area was primarily driven by the Yelahanka satellite township that was developed by the government to decongest Bangalore's core areas. The area has come into prominence due to the upcoming international airport at Devanahalli. The area is currently witnessing developments of apartments.
Areas around the Devanahalli airport and Doddaballapur have witnessed largescale layout developments, gated community projects, and villa developments. These developments are expected to continue as the primary demand driver for these developments has been the upcoming airport. However, this area has not witnessed commercial developments as yet significantly. The airport is expected to drive development of commercial office spaces. These spaces will find demand due to their proximity to the airport.
Tumkur Road
The areas around Tumkur Road and HMT Layout are witnessing residential development as they are well-connected to the Central Business District (CBD) as well as to the international airport. Parts of Yeshwanthpur Industrial Area have been categorised as commercial/hitech zones as per the new Comprehensive Development Plan - Master Plan 2015. This has led to commercial development in this corridor. This commercial development is expected to drive the demand for residential options here.
Bangalore South
The areas around Bannerghatta Road and Hosur Road have the potential to emerge as a residential corridor catering to commercial development around these areas. Improvement in connectivity - widening of Hosur Road and the Elevated Road project - is the main reason for this corridor to emerge into prominence. Some residential developments are already in progress in this area and developers have already proposed more residential developments (apartment as well as layouts) in this region.
Peripheral Ring Road
Connectivity to major locations in the city and future commercial developments will spur residential development in some areas around the planned Peripheral Ring Road (PRR). The emerging residential areas in close proximity to the PRR are around Gottigere, J P Nagar 8th Phase, Anjanapura, Banshankari 6th Stage, Begur, Yelahanka and KHB Colony, Tumkur Road and Hesarghatta Road.
Sarjapur Road
The areas around Sarjapur Road continue to witness huge residential developments due to the increasing requirements from commercial developments on the Outer Ring Road (ORR). Also, more major companies are considering this area as a corridor with a potential for more growth and have already acquired land. This will also spur residential development in and around these areas.
BDA layouts
The Bangalore Development Authority (BDA) has proposed these five layouts:
Dr K Shivarama Karanth Layout between Doddaballapur Road and Hesaraghatta Road
Nadaprabhu Kempegowda Layout between Magadi Road and Mysore Road
Sri D Devaraj Urs Layout between Airport Road and Varthur village
Sri K C Reddy Layout between Hosur Road and Sarjapur Road
Sri S Nijalingappa Layout between Varthur Village and Sarjapur Road
These layouts are in addition to the other ones of BDA in Banashankari 6th Stage, Visvesvaraya Layout (near Kengeri), and Anjanapura Layout (near Kanakapura Road).


At Saturday, May 31, 2008 at 1:54:00 PM GMT+5:30, Blogger Unknown said...

Its a good information for an investor. Keep posting such info.


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