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Bengaluru’s rise in global popularity has been only increasing. It comes as no surprise that this beautiful capital of charismatic Karnataka is turning into a real estate hotspot.
Whether it’s to holiday, shop, work, or live, Bengaluru is the preferred destination for an increasing global population.
Bengaluru’s rise
While the city is a known global IT hub with over 35 percent of India’s 2.5m IT professionals working out of here, Bengaluru is also home to 400 of the Fortune 500 companies: tech companies such as Microsoft, Oracle, Google, Facebook, and IBM are substantial business space occupiers. It is also a hub for start-ups, with more than 7,000 in the city – in fact, eight of India’s 21 tech unicorns were founded there.
As well as being the largest contributor to IT exports for India, Bengaluru accounts for 65 per cent of India’s aerospace business, has a strong manufacturing base as well as hosting financial services groups such as Visa, Goldman Sachs, RBS and Deutsche Bank.
These factors combine to give Bengaluru the best growth prospects in the world, according to Oxford Economics, which forecasts GDP to rise 8.5 per cent a year on average through to 2035.
So, it’s hardly surprising that the city’s real estate potential is on a high.
Key locations in focus
The entire city is growing exponentially. Nonetheless, there are key hotspots of real estate development – both commercial and residential.
A few localities in the spotlight presently are Yelahanka, Whitefield and Kanakapura Road. We tell you why.
Yelahanka
A quiet suburb is initially known for housing premier organizations like the Air Force Station Base, the GKVK campus, the Rail Wheel Factory, as well as a few well-known holiday resorts and spas, Yelahanka was flung into focus when the international airport came up in close proximity at Devanahalli
Today, Yelahanka boasts of improved infrastructure, excellent connectivity to major locales such as the international airport and proximity to IT growth corridors such as Manyata Tech Park, Ecopolis and the IT SEZ. It houses major college and international school campuses, multispecialty hospitals, and niche corporate offices.
According to realty firm Square Yards, this location has undoubtedly emerged as the most preferred choice of developers in Q3, dominating the new launches accounting for 40 % of the total share with a quarter-on-quarter rise of 4%. The growth of the region is further expected to grow manifold, given the improvement of infrastructure and connectivity.
Kanakapura Road
The growing preference for the tranquil outskirts has brought the once lesser-known locations like Kanakapura Road in prime focus. Earlier, this serene suburb was known for the Art of Living ashram, the Thurahalli forest with its rich flora and fauna, holiday resorts, and adventure sports, as well as the Pyramid Valley, an international meditation centre.
Presently, with an increasing number of citizens choosing to live here, Kanakapura Road’s rise in the popularity index, especially for prime residential projects, has been stupendous and steady.
The enhanced connectivity by major road networks as well as the location’s significance on the Metro Rail map has also made Kanakapura Road a preferred destination.
Sophisticated township projects by reputed developers like HM Constructions https://www.hmconstructions.com/ has upped the value of the locality too. HM Global City with the award-winning residential tower HM Indigo https://hmconstructions.com/index.php/projects/details/hm-indigo ensconced within its superior gated enclave has catapulted Kanakapura Road into the big league of residential real estate destinations.
Whitefield
Steeped in British colonial history, this sleepy suburb was once known as being ‘far away from the city’ with only the Hope Farm and the Sri Satya Sai Hospital as its major landmarks.
When Asia’s largest IT Park – ITPB, set up base at Whitefield, the locality became a strong blip on the global IT radar. Foreign investments poured in and so did major software development multinational corporates begin setting up base here.
Look at Whitefield’s meteoric rise in the commercial office space and residential property segment now and you’ll be stupefied. Thanks to prime tech parks by front-ranking developers like HM Constructions springing up in the vicinity, they have thrown up wonderful employment prospects for future software professionals.
The HM TechPark https://www.hmconstructions.com/projects/details/hm-tech-park located here is a prime commercial building housed on a high-profile corner property offering super visibility to companies with offices here, including existing banks.
Suitable for both, retail and office space, HM TechPark offers proximity to several MNCs and shopping destinations. With more usable space every square foot, the floor plans at this supreme office space are designed by senior architects from the in-house HM Studio, giving its occupiers quick turnaround time from shell to plug-n-play. Each office space comes with the promise of quality supervision by a team of engineers when occupiers move in. HM TechPark’s locational advantage with proximity to the Metro rail and road transport is a major plus for its occupants.
As newer areas emerge to win more hearts among home-seekers these three hot locations continue to hold sway over the present set of new homebuyers.
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