Bangalore set to witness increasing Real Estate demand

The development of the KR Puram area was boosted after the cable-stayed bridge connected it with the Outer Ring Road (ORR). Also the upgradation of Whitefield Main Road played an important role in increasing the value of the entire area from KR Puram to Hope Farm Junction. There have been many other developments in the area too which contributed to the area’s appraisal, like the railway station in KR Puram and up gradation of Old Madras Road. Let’s take a look at the reasons why the Realty sector is about to witness a demand upsurge:

Infrastructure

The ORR has no doubt contributed notably to the fast development of the areas around KR Puram. On top of that, the flyover at Kadugodi has facilitated a better connectivity around the Hope Farm Junction. Now, with the Metro Rail connectivity will render the area even more accessible and push the already increasing demand for properties around it.

The Phase 2 of Metro Rail is currently under development which goes from Baiyappanahalli to ITPB where Kadugodi is the last stop. With about 14 stations on this route, it will connect Kadugodi with KR Puram, Jyotipuram, Doddanekundi Industrial Estate, Vishveshwariah Industrial Estate, Kundalahalli, Vydehi Hospital, Sri Sathya Sai Institute of Higher Medical Sciences, ITPB, Whitefield, etc. This phase is anticipated to be completed by 2019. Once this is done, apart from the direct connectivity to the above mentioned areas, it will establish connection with every other major destination of the city via the Kempegowda Metro Station, which will connect with other Metro Lines.

Due to the Metro line the Floor Space Index (FSI) of the area will increase to 3.25 which is an additional attraction for real estate developers. There are plenty of malls along this route which is in the future development plans of many builders.

Residential options and locations

The road that is on the left side of the Hope Farm Junction is witnessing a stupendous development. There are plenty of plots for sale and most of the apartments are under construction. Most of the properties being developed are coming around Hoodi, KR Puram and Mahadevapura. The price range is between Rs. 3, 800-4, 200 per sq. ft. in this area. There is a mall under development in Mahadevapura where the plots around it are priced in the range of Rs. 4, 000-6, 000 per sq. ft. There are a plenty of premium developments in the loop as well towards ITPB where villas are coming up in the range of Rs. 8000-12000 per sq. ft.

Since, the areas closer to Whitefield Main Road are priced in a bit of higher range; the apartments are coming up in much more numbers than villas.  There are residential developments under process around the EPIP Zone, along the main road around KR Puram and Mahadevapura. There are several apartment complexes mushrooming along Old Madras Road from Bhattarahalli to Budigere Cross too. The places around Whitefield area, witnessing construction of huge number of residential apartments are Channasandra and Saukya Road.

The average price all along the way from Hope Farm Junction to Seegehalli is around Rs. Rs. 5, 000 per sq. ft. As far as the developments by developers as well as push for better infrastructure by government authorities are concerned, everything is indicating a dramatic upsurge in demand for residential properties soon. In the next 4-5 years the entire landscape of the areas from Hope Farm Junction till KR Puram will be filled with adequate infrastructure as well as plenty of residential and commercial properties.